The Director-General of the National Pension Commission (PenCom), Omolola Oloworaran, says the Pension Industry Leadership Council (PILC) will focus on expanding pension coverage to Nigeria’s informal sector.

Speaking at a press conference in Abuja on Thursday, she outlined PILC’s mandates, which include broadening coverage, enforcing governance standards, and driving industry-wide innovation to safeguard contributors.

Oloworaran unveiled “Pension Revolution 2.0”, a reform initiative championed by President Bola Tinubu. It introduces a minimum pension guarantee and healthcare coverage for retirees—measures she described as unprecedented in Nigeria’s pension history.

She assured contributors that new investment instruments and revised regulations are being developed to hedge against inflation and currency depreciation, ensuring Retirement Savings Accounts retain long-term value.

According to her, pension funds will increasingly support infrastructure, agriculture, affordable housing, and capital markets, generating jobs and economic growth while maintaining safety.

She described pensions as a pillar of social protection, inclusion, and sustainable economic growth.

Oloworaran disclosed progress on the N758 billion bond programme, noting ongoing government efforts. She also urged the media to champion awareness and advocacy for better retirement planning across the country.