PenCom Lifts PenCare Limit to N150,000, Prepares RSA-Backed Mortgages for Retirees
Updated
Updated · Businessday · Jul 8
PenCom Lifts PenCare Limit to N150,000, Prepares RSA-Backed Mortgages for Retirees
2 articles · Updated · Businessday · Jul 8
Summary
N150,000 is the new monthly pension ceiling for PenCare eligibility, more than doubling the previous N70,000 threshold to widen access to free healthcare for retirees.
About 13,000 retirees have enrolled so far, short of the 30,000 PenCom says it needs to properly test the pilot before a nationwide rollout, prompting the temporary expansion.
PenCom said the full scheme will have three tiers: free care for low-income pensioners, a co-payment option for those needing partial support, and enhanced cover at negotiated premiums for higher-income retirees.
RSA-backed residential mortgages are also nearing launch, with PenCom finalising rules that would let eligible retirees use Retirement Savings Account balances to access home loans.
The measures sit within a broader review of Nigeria's Pension Reform Act, which PenCom says is meant to close implementation gaps and update the system with input from employers and labour unions.
As Nigeria's pension system modernizes, how will it extend social protections like healthcare to the vast informal sector?
Will using pension savings for mortgages and infrastructure risk Nigeria's long-term retirement security for short-term gains?
PenCom’s 2026 Initiatives: Broader Healthcare and Housing Access for Nigerian Pensioners
Overview
The National Pension Commission (PenCom) has introduced major reforms as of July 8, 2026, to improve the welfare and financial security of retirees and contributors. These reforms focus on expanding healthcare access through the PenCare Initiative and making it easier for people to own homes with RSA-backed mortgages. PenCom’s efforts show a strong commitment to strengthening retirement income, increasing pension inclusion, and enhancing social protection for retirees. By addressing both healthcare and housing needs, PenCom aims to ensure that Nigerians can retire with greater peace of mind and financial stability.