Personal Pension Plan Target Threatened By 91% Unfunded Accounts

The National Pension Commission (PenCom) has warned that the Personal Pension Plan’s (PPP) target to have 30 per cent of accounts funded by the fourth quarter of 2026 is unlikely to be met.
The regulator attributed the shortfall to the persistent gap between account registration and actual savings, compounded by weak contribution habits among enrollees.
Data from the latest Nigerian Pension Industry Quarterly Report indicate that of the 219,316 PPP accounts opened under the scheme, only 18,811 have ever received a contribution.
This represented a funded ratio of about 8.5 per cent, leaving roughly nine in ten registered accounts empty.
The commission said the industry had focused ...