OPINION- For most of our working lives, we diligently pursue income, security, and a better future. We save for retirement, invest in our children’s education, and work hard to build a life of stability. But one often overlooked reality looms quietly in the background—healthcare needs in retirement.
In Africa, where the majority of health costs are paid out-of-pocket, the threat of financial strain due to medical emergencies after retirement is real and growing. It is here that the idea of a Post-Retirement Medical Fund (PRMF) becomes not just a sensible option—but an urgent necessity.
At Octagon Africa, we have seen firsthand the devastating impact of poor post-retirement planning for health care. Retirees, no longer earning regular income, often struggle to meet even basic medical expenses. Many fall into poverty not because they didn’t save, but because they didn’t plan for how much they would need for health—and how quickly those costs would rise.
This is why we have developed the Octagon Post-Retirement Medical Fund, a long-term solution designed to address the health needs of retirees without disrupting their financial dignity. It is a dedicated pool of savings that individuals contribute to during their working years—distinct from their pension or gratuity—and which becomes a financial cushion specifically for medical care after they retire.
The benefits are clear:
• Predictability: Medical inflation is real. By saving today, individuals can soften the blow of expensive future treatments.
• Dignity: No retiree should have to beg, borrow, or rely on overstretched adult children for basic health services.
• Peace of Mind: Knowing your medical needs are covered provides emotional security and allows retirees to enjoy the fruits of their labour.
Critically, this isn’t a burden—it’s a choice to plan ahead. Through workplace integration, individuals can contribute small, manageable amounts monthly into their PRMF account. Employers also have the opportunity to support this vision by co-contributing or embedding this fund into employee benefit structures.
In Kenya, Uganda, and across the region, we are working with progressive employers to institutionalize this approach. We are advocating for policy frameworks that recognize post-retirement medical cover as part of national health and pension planning.
Retirement should be a time of rest and reflection, not fear and fragility. As the region’s leading retirement benefits provider, Octagon is committed to helping individuals live longer, healthier, and more dignified lives—even beyond the paycheck.
It’s time to stop treating healthcare in retirement as a last-minute emergency. Let’s make it a first-line priority. A Post-Retirement Medical Cover is not a luxury for the privileged few—it is a lifeline we all need to secure our future.
The writer is Darius Niwaha Kishaho, CEO, Octagon Uganda
