The National Pension Commission (PenCom) and Pension Operators Association of Nigeria (PenOp) have promised to use technology to drive the growth of pension assets to N22 trillion in the first quarter of 2025.
As at October 2024, the value of pension assets was N21.9 trillion. The Director-General PenCom, Omolola Bridget Oloworaran, who stated this at a one-day media retreat organised by the commission in Lagos said the commission was particularly passionate about the Micro pension initiative adding that it would use technology to grow the segment.
“It is our way of saying that no one should be left behind, no matter how small their earnings might be. Technology plays a vital role in driving this inclusion, from mobile enrollment to real-time account management to benefits administration. We intend to use technology to scale the micro-pension plan,” she stated.
According to her, this year, the pension sector achieved a major milestone with the launch of the e-Application Portal for Pension Clearance Certificates (PCC).
