PENCOM LAUNCHES LEADERSHIP COUNCIL TO STRENGTHEN PENSION SECTOR
By: Safiya Abdulrahim Dabban
The National Pension Commission (PenCom) has inaugurated the Pension Industry Leadership Council (PILC) in Abuja to boost trust, innovation, and growth in Nigeria’s pension system.
PenCom’s Director-General, Ms. Omolola Oloworaran, said the council will serve as a permanent advisory platform where regulators and operators collaborate on policies and challenges to improve service delivery and strengthen public confidence. She added that members will adopt a governance charter and roadmap to institutionalize the council as a standing body for collaboration.
Highlighting government’s commitment, PenCom’s Head of Contributions and Bond Redemption, Mr. Usman Musa, revealed that the recently approved pension increase by President Bola Tinubu will take effect once the National Assembly gives the green light, likely by October. He stressed that ongoing reforms include healthcare services for retirees and measures to shield pensions from inflation.
The inauguration was performed by the Secretary to the Government of the Federation, Senator George Akume, alongside senior government officials.