Renewed Hope Agenda Is Yielding Positive Results In Pension industry-Oloworaran

 









By allcitynews.ng



Renewed Hope is more realistic in pension industry under President Bola Ahmed Tinubu’s Renewed Hope Agenda.





As such, the Nigerian pension industry has transitioned "from reform to reality," marked by unprecedented financial interventions and structural updates designed to restore retirees' dignity.










Just as the Renewed Hope Agenda pursuit in the pension industry has triggered the growth of pension fund assets from ₦10.7 trillion in two years to reach ₦31.48 trillion.


The Director General of the apex pension regulatory body,  National Pension Commission (PenCom) Omolola Oloworaran, while addressing the Pension Media Conference in the 10th edition, which took place in  Ikeja, GRA, Lagos State, Nigeria, pointedly said that the Renewed Hope Agenda has pushed to clearing decades of  pension  arrears as Federal Government  issued a landmark ₦758 billion intervention bond to completely wipe out inherited pension liabilities and unpaid backlog increases dating back to 2007, benefiting 957,045 retirees across the country.










She also announced The PENCARE Free Healthcare Initiative: Starting in November 2026, adding that no fewer than 30,000 low-income retirees will begin accessing free healthcare services, offering medical safety nets to elderly citizens


Oloworaran furthermore,  declared war against delayed payment of pension entitlements, saying "Era of endless waittfor" pension entitlements is gone"The  agency has eliminated the historical struggle where retirees waited months or years for payouts, as  PenCom has mandated a 48-hour approval turnaround. Federal employees retiring up to December 2029 already have their accrued pension rights credited to their Retirement Savings Accounts (RSAs), allowing them to receive pensions immediately upon retirement.



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