PenCom Reaffirms Commitment to Revolutionary Pension Reforms

By Correspondent in Abuja.

The Director-General, National Pension Commission (PenCom), Omolola Oloworaran, has reaffirmed the Commission’s commitment to a revolutionary approach in pension administration aimed at enhancing efficiency, transparency, and service delivery across Nigeria’s pension system.

Oloworaran made the remark on Tuesday in Abuja during the Commission’s 2025 Customer Service Week celebration, themed “Mission Possible.”

The theme, she said, captures the spirit of optimism and determination that underpins PenCom’s ongoing reforms and service transformation efforts.

Represented by the Acting Commissioner, Inspectorate, Mr. Samuel Uwandu, the D-G said the theme resonates deeply with PenCom’s vision of ensuring that every Nigerian worker,whether in the public, private, or informal sector, enjoys a secure and dignified retirement.

“Over the years, what once seemed impossible has become possible. We have worked tirelessly to build a transparent, accountable, and sustainable pension system in Nigeria,” she stated.

According to her, the Commission’s efforts reflect a people-centered philosophy: “Behind every regulation and every reform is a human story, individuals who have entrusted their future to the pension system. Our duty is to justify that trust through efficiency, transparency, and responsiveness,”the DG said.

Highlighting recent innovations, Oloworaran unveiled a new phase of pension administration tagged “Pension 2.0,” describing it as a bold step toward modernizing and expanding the pension industry through innovation, inclusion, and integrity.

Under this initiative, she said, PenCom has introduced landmark regulatory instruments such as the Guideline on the Administration of Retirement Savings Accounts in Foreign Currency, which enables Nigerians working for foreign firms or living abroad to participate in the Contributory Pension Scheme (CPS).

“This innovation ensures the pension system remains responsive to the realities of a global workforce while promoting inclusion of Nigerians in the diaspora,” she explained.

Oloworaran also highlighted the Personal Pension Plan (PPP) , a major innovation designed to integrate self-employed individuals and informal sector workers into the CPS.

She described the PPP as a practical demonstration of the “Mission Possible” spirit, breaking long-standing barriers to financial inclusion and allowing every Nigerian, regardless of income or occupation, to secure their retirement future.

To deepen access and participation, she said, the Commission developed a framework for engaging accredited pension agents who would promote and market the PPP nationwide, thereby reaching communities and individuals previously underserved by formal pension structures.

The D-G further disclosed that PenCom recently issued the Revised Guidelines for Corporate Governance for Licensed Pension Fund Operators (LPFOs), aimed at strengthening accountability, transparency, and ethical conduct across the industry—core values essential for sustaining public trust.

Also speaking, the Desk Officer, SERVICOM, Mr. Duruba Sesugh, said the Customer Service Week—celebrated globally during the first full week of October—serves as an opportunity to appreciate staff dedication, promote teamwork, and reinforce the value of quality service delivery.

“The celebration calls attention to the importance of people in service delivery. The employee experience is the new customer experience because customers care about how staff are treated,” he noted.

Sesugh explained that the objectives of the annual celebration include recognizing employees’ commitment to creating positive customer experiences, strengthening the organisation’s bond with its customers, and promoting feedback-driven service improvement.

He commended the D-G, management, and SERVICOM team for sustaining the culture of reflection and innovation through the 2025 Customer Service Week, describing it as “a crucial step toward maintaining citizen-focused service excellence within the Commission.”

Edited by Dada Ahmed.