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April 2025

02Apr

Nigeria’s pension assets to GDP up by 8% in 2024

Nigeria’s pension assets contribution to the country’s GDP has risen to 8 percent in 2024, from 5.6 percent in 2015. While this rise reflects a positive trend in the management of the country’s pension funds, Nigeria still lags behind the global average put at 30 percent, highlighting need for increased saving and regulatory compliance. Industry players believe that a shift towards better savings habits among Nigerians and adherence to regulatory compliance by employers at all levels would enhance contribution of the...

April 2, 2025
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March 2025

24Mar

Nigeria. Companies Must Promote Policies that Support Gender Equality to Sustain Growth

Associate Director, Access ARM Pensions, Adaora Ude speaks on gender equality, advising on the structures companies should put in place to maximise female potential for growth sustenance. She also speaks on the pension industry and how her firm is prioritising customer-centric solutions that help contributors plan for a secure and comfortable retirement. Nume Ekeghe brings the excerpts. As a senior executive in a traditionally male-dominated space, what challenges have you faced, and how have you navigated them? One of the biggest...

March 24, 2025
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21Mar

2024 Informal Economy Report

By Moniepoint The informal economy, also known as the shadow economy, comprises businesses that are typically described as untaxed and unregistered. And it is all around you: your family, neighbours, and even friends who have side hustles to supplement their income. This report weaves critical data, insights and expert perspectives to illuminate and help you understand Nigeria’s shadow economy. Get the report here

March 21, 2025
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February 2025

25Feb

Why a significant portion of Nigeria’s workforce remains vulnerable to old-age poverty – Aiku

Opeyemi Aiku is a seasoned investment management professional with over 19 years of experience in multi-asset portfolio management, high-net-worth advisory, pension fund oversight, and financial planning. She specialises in fixed income, equities, and alternative investments, applying her expertise in risk management, research, and strategic planning to help individuals and institutions achieve long-term financial stability and growth. As Senior Investment Manager at TotalEnergies EP Nigeria CPFA Limited, she oversees the Fixed Income & Research desk, ensuring fund portfolios align with strategic...

February 25, 2025
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January 2025

30Jan

More Nigerians transfer pension savings into mortgage

More Nigerians  are relying on their pension savings to acquire residential mortgage as the number of Retirement Savings Account, RSA, holders that transferred part of their pension savings into residential mortgage increased by 65.03 per cent quarter on quarter, QoQ, to 3,804 in the third quarter of 2024, Q3’24 This form of transfers recorded 2,305 in the second quarter of 2024, Q2’24. According to the Pension Industry Performance Dashboard released by the National Pension Commission, PenCom, yesterday, the value of funds transferred in...

January 30, 2025
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December 2024

23Dec

Nigeria. PenCom targets 20 million contributors under micro-pension scheme

The National Pension Commission (PenCom) is targeting inclusion of over 20 million contributors in its Micro Pension Scheme as part of its plans to overhaul and expand the commission’s landscape. The commission said the overhauling of the Micro Pension Plan (MPP) was part of a broader strategy to increase financial inclusion and extend pension coverage to more Nigerians, particularly in the informal sector. The reforms, announced by the Director General, Omolara Oloworaran, during the 2024 PenCom Media Conference in Lagos on Thursday,...

December 23, 2024
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20Dec

Nigeria. PenCom to remodel micro-pension scheme – DG

The Director-General of the National Pension Commission, Omolola Oloworaran, has revealed that the micro pension scheme would be remodelled to boost participation. Oloworaran said this on Thursday at the 2024 PenCom Media Conference held in Lagos. Micro pensions are specifically designed for individuals in the informal sectors. She said, “What we are doing with a micro pension is treating it a little differently from how we were doing it before. As we know, the micro pension doesn’t resonate with everyone within the...

December 20, 2024
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18Dec

AI and machine learning to help pension plan governance, says CFA report

The CFA Institute Research and Policy Center has released new research exploring how AI and machine-learning technology can address critical issues facing the global pensions industry. Demographic shifts, underfunding of defined benefit pension plans, inflation, rising inequalities, and gaps in financial literacy, are creating an increasingly complex pensions environment and more risk of pension inadequacy for retirees. The research, ‘Pensions in the Age of Artificial Intelligence’. explores whether technology can offer solutions to address key issues across various parts of the value...

December 18, 2024
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17Dec

Nigeria. Voluntary pension savings rise as workers prioritise future

Workers are voluntarily increasing their contributions to the pension scheme as they focus on the future in the face of economic uncertainties. Data from the National Pension Commission (PenCom) shows that Additional Voluntary Contributions (AVCs) under the Contributory Pension Scheme (CPS) have more than tripled in the last two years. The total AVCs rose from N1.08 billion in second quarter 2022 to N3.46 billion in second quarter 2024, indicating a 220.4 percent increase over the two-year period. This sharp increase in voluntary...

December 17, 2024
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03Dec

Low-Income Nigerians Can Access Entire Pension Pot – PENCOM

Low-income pensioners can now withdraw their entire retirement savings at once or continue receiving their monthly pension while awaiting the Minimum Pension Guarantee approval. In a memo issued by the National Pension Commission, signed by A.M. Salem, the Head of the Surveillance Department said that the change aligns with the new section 4.1 (g) of the revised regulations for managing retirement and terminal benefits, following the recent minimum wage increase to N70,000. Previously, retirees could only withdraw one-third of their total Retirement...

December 3, 2024
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