HomeBusinessRevealed: Why PenCom raised retirees' health insurance income

Revealed: Why PenCom raised retirees’ health insurance income

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PenCom raises monthly pension threshold for health insurance eligibility from N70,000 to N150,000 for retireesPenCare initiative aims to provide free health insurance to low-income retirees, enrolling over 13,000 so farNational Pension Week to enhance public awareness while tackling employer compliance on pension contributions

Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.

The National Pension Commission (PenCom) has expanded access to its PenCare health insurance initiative by increasing the income eligibility threshold for retirees from N70,000 to N150,000 in monthly pension payments.

The move is expected to allow thousands more retirees under the Contributory Pension Scheme (CPS) to benefit from free healthcare while providing PenCom with enough participants to effectively assess the pilot programme.

Nigeria raises retirees' monthly health insurance limitPenCom doubles retirees’ monthly health insurance to N150,000. Credit: MoMo Productions
Source: Getty Images

Speaking after the third Pension Industry Leadership Council (PILC) meeting in Abuja, PenCom Director-General Omolola Oloworaran said the

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