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Parthian Pensions Limited has unveiled plans to expand pension coverage across Nigeria’s informal sector through its rebranded Personal Pension Plan (PPP), aiming to boost the number of Retirement Savings Accounts (RSAs), which reached 10.88 million as of August 2025.
Speaking at the 10th National Conference and Anniversary of the Nigerian Association of Insurance and Pension Editors (NAIPE) in Lagos, the company’s Head of Operations, Adetunbi Ashaye, said Parthian Pensions would leverage digital platforms to onboard millions of self-employed and informal workers currently outside the formal pension system.
Ashaye noted that the initiative aligns with the National Pension Commission’s (PenCom) revised guidelines on the PPP, which extend pension participation to employees in small businesses, self-employed individuals, and formal sector workers seeking to make additional voluntary contributions beyond the mandatory scheme.
“We may be a relatively new player in the industry, but our strength lies in technology-driven service delivery. We are strategically positioned to penetrate the micro-pension market — an area with 70 to 80 million Nigerians yet to be reached,” Ashaye said.
He explained that the company’s digital-first approach allows contributors to register remotely and manage their pension accounts with ease, adding that financial literacy, transparency, and customer engagement remain central to Parthian’s strategy.
Ashaye also called for intensified public education to raise awareness about the Contributory Pension Scheme (CPS), describing it as essential to financial inclusion and retirement planning.
“The old pension system was largely unfunded and unsustainable. The contributory scheme, on the other hand, is both funded and regulated — guaranteeing financial security for workers after retirement,” he said.
He observed that many Nigerians still prioritise immediate needs such as food and housing over long-term financial planning, urging the industry to simplify, digitise, and diversify pension products to reach broader segments of the population.
With Nigeria’s total pension assets projected to hit ₦29 trillion by the end of 2025, Ashaye emphasised that transparency, efficient asset classification, and regulatory oversight would remain vital in sustaining trust and growth within the sector.
He reaffirmed Parthian Pensions’ commitment to building inclusive financial solutions that ensure every Nigerian — whether formally employed or self-employed — can secure a dignified retirement.
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