ABUJA

‎PENCOM has set a target of three million new funded pension accounts by the end of 2027.

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‎The National Pension Commission (PenCom) gave the charge to Pension Fund Administrators (PFAs) and other operators at its National Pension Conference and Awards held Thursday in Abuja.

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‎Director-General Omolola Oloworaran said the industry must move beyond formal payroll workers to cover informal workers in markets, motor parks, farms and through mobile phones.

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‎She said the Personal Pension Plan and accredited pension agents would drive the expansion, adding that PFA owners have committed to delivering funded accounts, not empty registrations.

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‎According to her, funded accounts represent a secured future, while empty accounts are mere statistics.

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‎Oloworaran said pension assets grew to 31.8 trillion naira as of August 2026, up from 20.79 trillion naira in July 2024.

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‎She also announced that President Bola Tinubu has approved a maiden exit benefit for retirees of federal treasury-funded ministries, departments and agencies, with a symbolic cheque presented at the conference.

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‎She urged the private sector to support the Pension Protection Fund and called on operators to deliver returns above inflation.