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92% of personal pension plan accounts dormant — PenCom

Amidst efforts by the National Pension Commission to include informal sector workers in the pension scheme, the Personal Pension Plan which caters to the informal sector, has remained stagnant. While the PPP has 215,412 registered Retirement Savings Accounts only 17,320 of these RSAs, which represents eight per cent, have received contributions. The remaining 198,092 RSAs, […]

Business

PenCom, NURTW move to enrol nine million transport workers

The National Pension Commission and the National Union of Road Transport Workers have commenced talks on a partnership to bring an estimated nine million transport workers into the Personal Pension Plan under Nigeria’s Contributory Pension Scheme. The development was disclosed in a statement issued by PenCom on Wednesday after the NURTW National President, Musiliu Akinsanya, […]

Business

PenCom launches monitoring platform to enforce pension compliance

The National Pension Commission has stepped up efforts to enforce compliance with the Contributory Pension Scheme by launching a dedicated monitoring platform aimed at states yet to fully implement the pension system. As part of the initiative, the commission inaugurated the first Bi-Annual Consultative Session for Heads of Service from non-compliant states, a move designed […]

featured Insurance

Under-30 drive pension growth as 44,837 join CPS in Q4 2025 — PenCom

More young workers under the age of 30 years signed into the Contributory Pension Scheme in the fourth quarter of 2025, Q4’25, as 44,837 contributors representing 39.03 per cent joined the scheme. This is as total Retirement Savings Accounts rose to 11,042,903 in Q4’25 from 10,928,039 recorded in Q3’25. According to the fourth quarter report […]

Investment

PenCom grants PFAs waiver to invest in Dangote Refinery IPO

The National Pension Commission has granted Pension Fund Administrators a special regulatory waiver allowing them to invest pension assets in the upcoming Initial Public Offering of Dangote Petroleum Refinery & Petrochemicals FZE. Nairametrics reported that the waiver, announced in a circular dated May 13, 2026, effectively suspends several investment restrictions, marking a significant shift in […]

Business

PenCom removes approval requirement for PFA advertisements

The National Pension Commission has scrapped the requirement for Pension Fund Administrators to seek prior written approval before publishing advertisements and marketing materials. The change was outlined in a circular dated May 8, 2026, signed by the Director of the Surveillance Department, A.M. Saleem. According to the commission, the new directive takes immediate effect and […]

Finance

PenCom to deploy tools for states pension compliance enforcement

The Director-General of the National Pension Commission, Omolola Oloworaran, has disclosed that the agency plans to deploy “tools” to enforce pension compliance at the state level. Nairametrics reported that she made this known during a press interview on Thursday on the sidelines of the maiden edition of the bi-annual consultative session for Heads of Service […]

Finance

Employees ₦30bn pension contributions stuck in PFAs accounts – PENCOM

Nearly N30 billion in pension contributions is currently stuck with Pension Fund Administrators instead of reaching employees’ accounts. The National Pension Commission attributes this N29.84 billion backlog to employer errors, such as inconsistent data and irregular schedules, which prevent the transfer of funds to individual Retirement Savings Accounts. Stanbic IBTC accounts for nearly half of […]

Business

PenCom lifts age limit on personal pension plan for students, newborns

The National Pension Commission has removed the age restriction on its Personal Pension Plan, enabling students and even newborns to start saving for retirement. Director-General Omolola Oloworaran announced the change following the second Pension Industry Leadership Council meeting in Lagos on Tuesday. With this update, Nigerians of all ages can now participate in the personal […]

Business

FG unveils PenCom governing board in Abuja

The Federal Government on Monday inaugurated the Governing Board of the National Pension Commission weeks after the Nigerian Labour Congress made the request to PenCom Director-General, Ms. Omolola Oloworaran. The inauguration ceremony, held in Abuja, was overseen by the Secretary to the Government of the Federation, Senator George Akume. It was earlier reported that during […]

Business

Pension funds hit N28.04tn, govt securities dominate

Nigeria’s pension funds totaled N28.04 trillion, with federal government securities and domestic stocks accounting for 74.85 per cent of the portfolio, as of January 31, 2026. The National Pension Commission reported the figures in its latest unaudited industry portfolio update, highlighting fund managers’ preference for government-backed instruments and local equities to ensure safety and regulatory […]

Business

PenCom raises equity limits across RSA funds

The National Pension Commission has raised the investment limits for ordinary shares across RSA Funds I, II, III and VI-Active, a step that could unlock nearly N1tn in potential inflows into Nigeria’s equities market, according to a new thematic report by CardinalStone Research. The report noted that the regulator said the move was aimed at […]

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