The National Pension Commission (PenCom) has called on civil society organisations (CSOs) to take a leading role in driving pension inclusion, accountability, and public trust as Nigeria deepens its ongoing pension reforms under the Pension Revolution 2.0 agenda.
The Director General of PenCom, Ms. Omolola Oloworaran, made the call on Tuesday in Abuja at the 2025 PenCom–Civil Society Conference, where she described civil society as a critical partner in expanding pension coverage and safeguarding the integrity of the Contributory Pension Scheme (CPS).
Speaking on the theme, “Civil Society as a Catalyst in the Pension Revolution 2.0,” Oloworaran said the reform agenda was deliberately designed to deliver measurable impact, rebuild confidence in the pension system, and ensure retirement security for Nigerians across all sectors of the economy.
According to her, Pension Revolution 2.0 represents the most comprehensive overhaul of the pension industry since 2004, combining regulatory reforms, stronger supervision, digital transformation, and governance improvements to future-proof the system.
Oloworaran highlighted the Presidential approval and disbursement of ₦758bn to clear outstanding pension liabilities as one of the most significant milestones recorded in the past year, noting that the intervention sent a strong signal that the Federal Government is committed to honouring its obligations to workers and retirees.
She also disclosed that long-standing pension increase backlogs for treasury-funded retirees, some dating back to 2007, had been fully settled, while zero waiting time for the payment of accrued pension rights was restored from July 2025.
“These are not just statistics,” she said. “They represent dignity for retirees, access to healthcare, and peace of mind after years of service.”
As part of efforts to improve benefit adequacy, the PenCom boss said the Commission introduced Pension Boost 1.0, which has added ₦2.68bn to monthly pension payments for CPS retirees.
On pension inclusion, Oloworaran described the restructuring of the Micro Pension Plan into the Personal Pension Plan (PPP) as a game changer aimed at capturing millions of Nigerians in the informal economy, including artisans, traders, transport workers, gig workers, and self-employed professionals.
She explained that the introduction of Accredited Pension Agents under the PPP would not only expand pension coverage but also create employment opportunities for thousands of young Nigerians who would be trained and deployed nationwide.
Oloworaran stressed that participation in the new scheme had been simplified, with enrolment requiring mainly a National Identification Number, a valid phone number, and a bank account.
She further noted that PenCom had strengthened governance standards in the industry by raising capital requirements for pension operators and eliminating practices such as shadow directorships, insisting that transparency and integrity were non-negotiable in managing contributors’ life savings.
Calling on CSOs to intensify advocacy, awareness, and oversight, the PenCom Director General said pension was neither a tax nor a privilege, but a right that guarantees dignity in old age.
“As we move into the next phase of Pension Revolution 2.0, our focus remains on expanding coverage, deepening trust, and protecting retirees,” she said, adding that the reform process was irreversible.
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