Hardship threatens personal pension plan, 92% of accounts dormant

*Only 8% of 215,412 accounts receive contributions *PenCom to drive awareness through agents, fintechs, cooperatives *Experts commend scheme, point way forward

By Rosemary Iwunze

More than 90 per cent of informal sector workers who enrolled in the Personal Pension Plan, PPP, have abandoned the scheme, as subscribers blame worsening economic hardship for their inability to make regular pension contributions.

Financial Vanguard findings show that only 17,320, representing eight per cent of the 215,412 registered Retirement Savings Accounts, RSAs, under the scheme, had received contributions as at December 2025, while the remaining 198,092 accounts, representing 92 per cent, were dormant.

Many traders and artisans also expressed ignorance of the scheme or how it works, even as the National Pension Commission, PenCom, pledged to expand awareness through accredited agents, fintechs, cooperatives and other distribution partners.