LAGOS – The National Pension Commission (PenCom) says cumulative Retirement Savings Account (RSA) registrations under the Contributory Pension Scheme (CPS) rose by 143,248 in the first quarter of 2026 (Q1’26).
PenCom disclosed this in its Q1 2026 report, stating that cumulative RSA registrations increased from 11,040,227 at the end of Q4 2025 to 11,183,475 by the end of Q1 2026.
The commission said the increase followed the opening of 143,248 new accounts during the quarter, higher than the 114,864 accounts opened in Q4 2025.
It attributed the growth to improved digital onboarding and sustained public sensitisation.
According to the report, active pension membership now represents about 12.1 per cent of Nigeria’s estimated 92 million labour force, indicating significant room for further expansion, particularly in the informal sector.
“Cumulative RSA registrations rose from 11,040,227 at the end of Q4 2025 to 11,183,475 at the end of Q1 2026, on the back of 143,248 new accounts opened during the quarter.
“The quarterly cadence is materially stronger than the 114,864 opened in Q4, and reflects both improved digital onboarding and sustained public sensitisation,” PenCom said.
The commission said the five leading Pension Fund Administrators (PFAs) accounted for 54.41 per cent of new RSA registrations during the quarter, down from 62.11 per cent in Q4 2025.
Stanbic IBTC Pension Managers led with 25,024 new registrations, representing 17.47 per cent of the total.
It was followed by AccessARM with 10.63 per cent, FCMB Pensions with 10.15 per cent, TangerineAPT with 9.65 per cent and Trustfund with 6.73 per cent.
PenCom said the figures showed intensifying competition among mid-tier PFAs, noting that TangerineAPT’s emergence among the top five indicated that the market remained competitive.
On gender distribution, the commission said female registrations accounted for 44.08 per cent of new contributors in Q1, while males accounted for 55.92 per cent.
It said the figures reflected a continued narrowing of the gender gap in pension enrolment, driven by increasing female participation in the workforce and sustained sensitisation efforts aimed at promoting wider inclusion.
The report further revealed that Nigerians below the age of 40 accounted for 75.31 per cent of new RSA registrations during the quarter.
PenCom described the youthful contributor base as a major long-term strength of the pension system, noting that the contributors had retirement horizons extending beyond 2055.
It said investment policies should take the youthful profile of contributors into account, noting that long investment horizons provided room for greater risk-bearing capacity.
The commission noted that pension reform would only succeed when it reached more Nigerians in both the formal and informal sectors.
It emphasised the need to deepen coverage and bring more workers, particularly those in the informal economy, into the pension system. (NAN)
