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The National Pension Commission (PenCom) has announced that its Personal Pension Plan is now open to students and infants, encouraging Nigerians to start retirement planning from an early age.
Director-General Omolola Oloworaran made the disclosure on Tuesday after the second Pension Industry Leadership Council meeting in Lagos.
Oloworaran explained that the move is part of efforts to expand retirement savings and strengthen financial security across all segments of society.
“The Personal Pension Plan is available for everyone. Previous system limitations on age have now been resolved,” Oloworaran said.
She noted that previous age restrictions have been removed to make the plan accessible to everyone.
“Students can now contribute if they choose to, including newborns. Parents can begin saving for their children from birth.”
She also revealed that PenCom is developing initiatives to make the scheme more attractive and encourage wider participation among Nigerians.
On the PenCare initiative, Oloworaran said the first tranche of premiums for low-income retirees would be disbursed before the end of the week, with payments scheduled in phases ahead of the programme’s official launch.
She claims that the programme will give low-income retirees access to free healthcare, with PenCom paying for medical costs.
