Five PFAs control pension market, account for 54% of new RSAs

August 27, 2026

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By Rosemary Iwunze

Five Pension Fund Administrators, PFAs, out of 18 licensed operators accounted for 54.41 per cent of new Retirement Savings Account, RSA, registrations in the first quarter of 2026, Q1’26, indicating continued concentration in Nigeria’s pension market.

According to the Q1’26 industry report released by the National Pension Commission, PenCom, Stanbic IBTC Pension Managers led the market, accounting for 17.47 per cent of new RSA registrations during the quarter.