National Pension Commission reports growth in Nigeria's pension registrations

The National Pension Commission (PenCom) reported that cumulative Retirement Savings Account (RSA) registrations under the Contributory Pension Scheme rose by 143,248 in the first quarter of 2026. Total registrations increased from 11,040,227 at the end of 2025 to 11,183,475 by the end of Q1 2026, a growth PenCom attributed to improved digital onboarding and public sensitization.

Regarding financial contributions, PenCom clarified that while headline figures showed a drop from N903.70 billion in Q4 2025 to N559.42 billion in Q1 2026, this was due to N499.15 billion in exceptional transfers from the Federation Account in the previous quarter. When excluding these one-off payments, Q1 contributions actually grew by N154.87 billion, representing a 38.2 percent increase.

Stanbic IBTC Pension Managers led new registrations with 25,024 accounts, followed by AccessARM, FCMB Pensions, TangerineAPT, and Trustfund. Contributions were split between the public sector (50.9 percent) and the private sector (49.1 percent). Additionally, the commission recovered N1.18 billion from 15 defaulting employers.