The Personal Pension Plan recorded a total of 219,316 registrations from inception to the first quarter of 2026, with only 18,811 accounts funded.
This is according to the first-quarter pension industry data released by the National Pension Commission.
The data showed that funded Retirement Savings Accounts accounted for 8.6 per cent of total PPP registrations, while 200,505 accounts, representing 91.4 per cent, remained unfunded.
The figures highlighted the significant challenge facing the PPP, particularly the need to convert registrations into active accounts with sustained pension contributions.
The data further showed that total contributions under the PPP stood at N1.66 billion from inception to the first quarter of 2026. Related News Lagos paid N168.2bn to over 48,000 retirees since 2007 – Govt PenCom records 11.18 million pension registrations in Q1 TeamApt deploys POS network to bridge pension access gap
