PenCom Mandates PFAs to Secure Retirees’ Consent Before Enrolment into PenCare
Ebere Nwoji The National Pension Commission(PenCom), has mandated all licensed Pension Fund Administrators (PFAs) to ensure they are in agreement with retirees before enrolling them into the PenCare initiative. The
The National Pension Commission (PenCom) has issued a directive to Pension Fund Administrators (PFAs) requiring them to obtain informed consent from retirees before enrolling them into the PenCare initiative. This mandate, announced in a circular published on PenCom's official website, came into effect on October 27, 2026. The PenCare initiative is a social welfare program launched by the Federal Government, aimed at providing free basic primary healthcare services to eligible retirees.
Eligible retirees must be aged 60 and above, have chosen the Programmed Withdrawal (PW) option for their retirement benefit collection, and have a monthly pension benefit amount between N70,000 and N150,000. The circular, signed by the Director of PenCom's Surveillance Department, Mr. A.M. Saleem, emphasizes the importance of obtaining consent during the retirement process to streamline the enrolment procedure, prevent delays, and maintain accurate records.
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