The National Pension Commission (PenCom) has launched the PenCare Initiative, a groundbreaking healthcare support programme designed to enhance the well-being of retirees under Nigeria’s Contributory Pension Scheme (CPS).
This Pension Industry Health Care Initiative (PenCare) represents a major step forward in strengthening retirement security by integrating affordable healthcare into pension benefits.
Why PenCare Matters
Healthcare expenses remain one of the biggest financial pressures facing retirees in Nigeria. Through the PenCare Initiative, PenCom aims to:
- Reduce out-of-pocket medical expenses
- Ensure access to quality and subsidised healthcare services
- Support low-income and vulnerable retirees
- Cushion retirees against unexpected medical costs
- Promote dignity, comfort, and quality of life in retirement
This initiative reflects PenCom’s commitment to ensuring that retirement is not only financially secure but also supported by good health and well-being.
Programme Structure and Implementation
The PenCare programme operates as an industry-wide collaboration involving:
- Licensed Pension Fund Administrators (PFAs)
- Accredited healthcare providers
- Registered Health Maintenance Organizations (HMOs)
A dedicated PenCom approved Board of Trustees provides governance oversight to ensure transparency, accountability, and effective nationwide implementation.
For CrusaderSterling Pensions’ retirees, AXA Mansard has been appointed as the HMO responsible for providing healthcare services in partnership with CrusaderSterling Pensions.
Eligibility Criteria for PenCare
Currently, the initiative is open to retirees who:
- Are 65 years and above, and
- Earn below₦40,000 monthly, as programmed withdrawal.
There is hope that the programme will be expanded in the future to accommodate more retirees
By extending CPS benefits beyond income replacement to include healthcare support, the PenCare Initiative is redefining retirement planning in Nigeria. It reinforces the industry’s long-term commitment to contributors’ welfare and promotes true peace of mind in retirement.
For retirees and contributors, PenCare represents a new era where financial security and healthcare protection work together to enhance quality of life in old age.
For further information, please contact us: Call 08139856160, 08139856161, 08070111996, 08070111997, Email: info@crusaderpensions.com
