PenCom Registers 143,248 New Pension Accounts in Q1 2026

In the first quarter of 2026, the National Pension Commission (PenCom) reported the registration of 143,248 new Retirement Savings Accounts (RSAs), marking a 24.7% increase from the 114,864 accounts registered in the preceding quarter. This growth raised cumulative RSA registrations from 11.04 million at the end of December 2025 to 11.18 million by March 2026.

PenCom attributed the increase to improved digital onboarding and public sensitization efforts. However, registered pension contributors still represent only about 12.1% of Nigeria's estimated 92 million labor force, highlighting a significant gap in pension coverage, especially among informal-sector workers.

The five largest Pension Fund Administrators (PFAs) accounted for 54.41% of new registrations during the quarter. PenCom is also planning to increase statutory pension contribution rates and develop a new investment vehicle to channel resources from Nigeria's $22 billion pension industry into critical infrastructure projects.

As of May 2026, Nigeria's pension assets reached a record N31.32 trillion, reflecting a 1.23% increase from April.