A 365days scorecard:’ PenCom DG presents statement of intents and achievements one year in office

The Director-General of the National Commission, Omolara Oloworaran (PenCom) has expressed deep satisfaction over the presidential approval and disbursement of N758billion to settle outstanding pension liabilities, describing the development as a most historic milestone of the year 2025.

Addressing journalists in Lagos, she stated that the intervention by the Federal government in helping to clear the backlog was a clear and powerful statement that Nigeria honors its promises to its workers and retirees. The DG made the assertion, while addressing a group of insurance and pension journalists on the activities embarked upon by the commission in the past one year tagged: ‘Pension Revolution Summit and the 2025 Media Conference.’

The day’s theme: ‘A 365days Scorecard,’ she said is not a reflection of time passed, but a statement of intent, addressed issues of accountability, delivery, and the future of retirement security in Nigeria.

Speaking on efforts so far made by the commission to reform the pension industry under her watch she stated: ‘’I am proud to say that this past year has been defined by bold decision, structural reforms and measurable impact. ‘’We formally launch pension revolution 2., the most comprehensive reform agenda in Nigeria’s pension industry since 2024. This was not cosmetic reform, but structural reforms.

‘‘I brought together new regulations, Stronger supervision, governance reforms, digital transformation and industry realignment, all designed to future-proof the pension system and position it as a pillar of national stability and long term development.’’

‘’She stated that the commission under her watch also cleared long standing pension increased backlogs for Federal government treasury-funded retirees, some dating back to 2007. What many believe would never be paid has now been paid.

In addition, she stated that zero waiting time for the payment of accrued pension rights was restored with effects from July 2025. ‘’Today, retirees receive their benefits when due. Not months or years later.’’