The National Pension Commission (PenCom) has announced that its Personal Pension Plan is now open to students and infants, in a move designed to encourage Nigerians to begin retirement planning much earlier in life.
Director-General, Mrs. Omolola Oloworaran, disclosed this on Tuesday in Lagos after the second Pension Industry Leadership Council meeting.
Oloworaran said the initiative formed part of broader efforts to expand retirement savings and strengthen long-term financial security across all segments of society.
According to her, students and infants can now contribute voluntarily to the scheme, with parents encouraged to enrol their children early to secure their financial future.
“The Personal Pension Plan is available for everyone. Previous system limitations on age have now been resolved.
“Students can now contribute if they choose to, including newborns. Parents can begin saving for their children from birth,” she said.
She added that the commission was developing additional initiatives to make the scheme more attractive and accessible to a wider population.
On the PenCare initiative, Oloworaran said the first tranche of premiums for low-income retirees would be disbursed before the end of the week.
She explained that the payments would be made in phases, ahead of the programme’s official launch in the coming weeks.
According to her, the initiative will provide low-income retirees with access to free healthcare, with PenCom covering their medical expenses.
