By 
The National Pension Commission (PenCom) has accredited its first pension agent to support enrolment into the Personal Pension Plan (PPP), marking a key milestone in efforts to expand pension coverage in Nigeria. The announcement was made via the commission’s official social media channels.
The PPP, formerly known as the Micro Pension Scheme, was introduced to bring workers in the informal sector into the formal pension system and improve long-term retirement savings across the country.
In naming the first Accredited Pension Agent (APA), PenCom said Awabah has been licensed to support the marketing and registration of participants under the PPP, in line with the regulator’s commitment to broadening pension participation across Nigeria’s workforce.
PenCom explained that the Personal Pension Plan is designed for self-employed individuals and workers outside formal employment, including artisans, traders, freelancers, consultants, and professionals such as lawyers, doctors, and accountants. Accredited Pension Agents are companies authorised by PenCom to market the scheme and register eligible individuals.
Awabah is also approved by PenCom as a payment solution service provider, under a new initiative aimed at delivering a secure, cost-free, and fully digital pension remittance platform nationwide.
Despite growing registrations, recent data highlights a funding gap within the scheme. As of the third quarter of 2025, most Retirement Savings Accounts (RSAs) under the rebranded Personal Pension Plan remained unfunded.
According to PenCom’s Q3 2025 report, only 7.6 per cent of registered accounts had received contributions during the period. Out of 206,917 RSAs recorded as of September 30, 2025, just 15,677 were funded in the quarter, while 191,240 accounts — representing 92.4 per cent — had no contributions.
The accreditation of pension agents is expected to help address this gap by improving awareness, onboarding, and contribution levels among informal sector workers.
Comments