91.4% of personal pension accounts remain unfunded – PenCom ​‌‍​‌‍⁠⁠‌‍​​‍‍​

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The Personal Pension Plan recorded a total of 219,316 registrations from inception to the first quarter of 2026, with only 18,811 accounts funded.

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This is according to the first-quarter pension industry data released by the National Pension Commission.

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The data showed that funded Retirement Savings Accounts accounted for 8.6 per cent of total PPP registrations, while 200,505 accounts, representing 91.4 per cent, remained unfunded.

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The figures highlighted the significant challenge facing the PPP, particularly the need to convert registrations into active accounts with sustained pension contributions.

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The data further showed that total contributions under the PPP stood at N1.66 billion from inception to the first quarter of 2026.

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It also indicated a significant increase in quarterly contributions, with contributions rising from N103.30 million in the fourth quarter of 2025 to N147.16 million in the first quarter of 2026.

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This represented an increase of N43.86 million or 42.46 per cent during the period.

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The Personal Pension Plan is designed to enable self-employed persons and workers in the informal sector to participate in the Contributory Pension Scheme and build retirement savings.

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