The National Pension Commission (PenCom) has reported a rise in pension enrolment as the agency’s Director-General completes his first year in office.
The one-year performance review shows a notable expansion in the number of contributors under the Contributory Pension Scheme (CPS), driven by targeted compliance actions, improved engagement with employers and the rollout of digital tools designed to simplify onboarding for workers across both the formal and informal sectors.
According to figures released by the Commission, enrolment momentum has accelerated across multiple segments, particularly in private-sector organisations that had previously lagged in compliance.
The enforcement of mandatory registration obligations, backed by stricter monitoring of employer remittances, resulted in thousands of additional workers being captured within the retirement savings system.
PenCom’s leadership has positioned the expansion of pension coverage as a top priority, highlighting the risks posed by decades of weak retirement planning and the need to integrate more Nigerians into an organised, regulated savings structure.
Over the last year, the Commission intensified workplace inspections, conducted targeted outreach to compliant and defaulting employers, and strengthened linkages with Pension Fund Administrators to ensure that onboarding processes are faster and fully digitised.
The Commission also launched several technology upgrades aimed at resolving long-standing bottlenecks in the industry. These include enhanced registration platforms, automated data-verification systems and an improved interface for Retirement Savings Account (RSA) holders.
The digital reforms have reduced paperwork, cut processing time and encouraged more workers to initiate registration independently without relying solely on employer-driven documentation.
PenCom’s renewed regulatory posture has also been visible in its enforcement actions. The Commission intensified sanctions against organisations failing to remit deductions or refusing to register eligible employees. These measures have helped restore confidence in the system and contributed to a rise in compliance levels among corporate employers.
In addition to enrolment growth, PenCom recorded improvements in customer transparency, pension-fund reporting and the resolution of outstanding remittance issues.
The Commission noted that several longstanding employer defaults were cleared during the period through a combination of direct engagement and enforcement measures.
As PenCom enters its second year under the current leadership team, the agency says it will deepen digital adoption, widen pension coverage to underserved groups and pursue legislative updates required to modernise the regulatory framework.
Industry analysts say the reforms come at a crucial moment for Nigeria’s pension sector, which has grown into a multi-trillion-naira asset class but still faces challenges linked to low coverage, inconsistent employer compliance and limited penetration among informal-sector workers.
The recent enrolment surge, they note, indicates that sustained regulatory pressure and modern digital tools can accelerate the sector’s long-term expansion.
PenCom has stated that its overall objective is to protect contributors’ funds, strengthen confidence in the system and ensure that more Nigerians are equipped with reliable retirement savings as the country’s workforce continues to evolve.