Pension Fund Managers Expand Registration into CPS by 129,000

• Attribute progress to increased youth participation

Ebere Nwoji

Pension Fund Managers said they expanded their coverage of Nigerian workers who registered into the Contributory Pension Scheme (CPS) in the third quarter 2025 by 129,000 contributors, attributing the development to increased youth participation and improved gender inclusion.

The managers said with this achievement total number of contributors into the scheme at the period rose to 10 million contributors, with the total assets raked in by the operators during the period standing at N26.09 trillion.

Towards the last quarter of the year, precisely in November, the figure rose to   N27.052 trillion.

With this achievement the operators said when the full result of their fourth quarter performance comes out, they expected that inflation stability and a more accommodative monetary policy environment would support investment returns.

They are also hopeful that continued adoption of digital systems would strengthen compliance monitoring, operational efficiency, and transparency.

The managers are equally very optimistic that in the fourth quarter result, Personal Pension plan (PPP) expansion and intensified employer compliance enforcement would be central to sustaining growth and coverage.

These are contained in the third quarter report and fourth quarter outlook on activities in the pension sector released by the National Pension Commission (PenCom) recently.

PenCom in the report said sustained growth in pension assets to N26.09 trillion was driven by positive investment performance and improved contribution compliance.

The commission said the increase in contributors’ coverage which expanded with over 129,000 new RSA registrations, was supported by increased youth participation and improved gender inclusion.

“Retirement benefit administration remained stable, with timely payment of accrued rights and enhanced service delivery under the DBS, compliance enforcement strengthened through recoveries, employer monitoring, and continued state-level CPS adoption engagements”.

PenCom in the report said preparations for Q4 prioritised expansion of the Personal Pension Plan (PPP), intensified compliance drive, and acceleration of data recapture and exploring avenues for diversifying investments of pension funds and assets.

According to the report, the third quarter of 2025 marked a period of resilience and reform-driven progress for Nigeria’s pension industry.

It said this was supported by macroeconomic stability, rising capital-market confidence, and deepening regulatory oversight.

The report stated: “The National Pension Commission (PenCom) consolidated gains across fund performance, compliance, and coverage. Total pension assets grew to N26.09 trillion, while industry reforms continued to enhance transparency, accountability, and public trust in the Contributory Pension Scheme (CPS).

“Nigeria’s economy maintained its recovery trajectory in Q3 2025, with GDP expanding by 4.23 percent year-on-year, its fastest pace in four years. Inflation moderated to 18.02 percent in September, and the Central Bank of Nigeria (CBN) reduced the Monetary Policy Rate to 27.00 percent signaling a gradual shift toward monetary easing.

“Capital-market conditions also strengthened, with the Nigerian Exchange (NGX) All-Share Index rising to 18.95 percent while declining bond yields supported portfolio valuation gains. These developments created a favorable investment environment for pension funds, enhancing contributors’ long-term returns.”

It said during the period, the Commission intensified regulatory and supervisory activities, including on-site examinations of licensed pension fund operators (LPFOs) and issuance of 16 key circulars and frameworks during the quarter, adding the inauguration of the Pension Industry Leadership Council (PILC) further deepened industry collaboration and strategic alignment.

The report further said within the period, coverage under the CPS continued to expand, reflecting sustained compliance and broader participation as 129,154 new Retirement Savings Accounts (RSAs) were registered, bringing total membership to above 10 million.

“Youth participation remained strong, with 74.6 percent of new registrants under age 40.  Gender inclusion improved, with female registrations rising to 40.3 percent narrowing the gender gap by 6.5 percent year-on-year.

“Total Net Asset Value (NAV) of pension fund assets increased by 5.93 percent from N24.63 trillion in June 2025 to N26.09 trillion as at 30 September 2025 and N27.052 trillion in November Growth was driven by strong investment returns in equities and government securities, reflecting effective fund management and sustained contributions”, the report stated.