Over 92% of personal pension savings accounts remain unfunded

June 18, 2026

By Rosemary Iwunze

Amidst efforts by the National Pension Commission, PenCom, to include informal sector workers in the pension scheme, the Personal Pension Plan, PPP, which caters to the informal sector, has remained stagnant.

While the PPP has 215,412 registered Retirement Savings Accounts, RSAs, only 17,320 of these RSAs, which represents 8.0 per cent, have received contributions. The remaining 198,092 RSAs, which represent 92.0 per cent, are dormant.

PenCom, in its fourth quarter 2025 report stated that registrations are not savings and registration without funding is creating a misleading picture of inclusion.