The National Pension Commission (PenCom) has disclosed that just 215,914 Nigerians in the informal sector are enrolled in the Personal Pension Plan (PPP), leaving about 91.88 million workers without any form of pension cover out of an estimated 92.1 million informal-sector workforce.

The pension regulator, in its third-quarter 2025 report, said the figures highlight the enormous untapped potential within the informal sector and underscore the need for a more deliberate and coordinated industry-wide strategy to deepen micro-pension adoption.

PenCom noted that achieving national pension inclusion targets would require intensified public awareness campaigns, expansion of agent networks, and the development of pension products specifically tailored to the realities of informal-sector workers, to also ensure the long-term sustainability of the PPP scheme.

A review of PPP registrations in the third quarter of 2025 further revealed a highly concentrated market structure, with AccessARM and Stanbic IBTC jointly accounting for 68 per cent of all registered Retirement Savings Accounts (RSAs) as at September 30, 2025. AccessARM retained its leadership position with 50 per cent of total registered participants, while Stanbic IBTC followed with 18 per cent.

Read more @thenationonlineng