PenCom expands pension access to informal sector, unemployed Nigerians

Oct. 16, 2025

National Pension Commission (PenCom) says unemployed Nigerians and individuals in the informal sector can now contribute to the pension scheme through the Personal Pension Plan (PPP).

The Director-General of PenCom, Ms. Omolola Oloworaran, said this while speaking with the News Agency of Nigeria (NAN) on the sidelines of the two-day sensitisation workshop for pension desk officers in Lagos.

Oloworaran explained that the PPP was initially known as the Voluntary Contribution under the Contributory Pension Scheme, which was limited in certain areas.

She noted that under the previous arrangement, contributors could only make voluntary payments through their employers, which restricted participation.

According to her, this would allow anyone, including self-employed and unemployed persons, to make direct contributions without the involvement of an employer.

She said this was deliberately done to provide more inclusive access to retirement savings for all.

“The Retirement Savings Account remains; it will not change. What we have done is simply to rename the Voluntary Contribution as the Personal Pension Plan.

“With the PPP, we are democratising the process. Now, anyone can decide to contribute independently, whether they are self-employed, freelancers, or currently unemployed,” she said.

Oloworaran reiterated that this was part of PenCom’s broader strategy to expand pension coverage to all working-age Nigerians and ensure better financial security in retirement. (NAN)