Despite efforts by the National Pension Commission (PenCom) to encourage personal pension savings, total of 191,240 Personal Pension Plan (PPP), about 92.4 percent of the 206,917 registered PPP accounts are unfunded as at third quarter 2025, Q3’25.
According to figures released by PenCom, only 15,677, representing 7.6 per cent of PPP were funded during the period under the review.
According to PenCom, the data underscores a critical challenge for the PPP, stressing that while registration numbers are increasing, the majority of accounts remain unfunded, limiting the growth of accumulated pension assets.
PenCom noted that the development indicates the need for targeted strategies to drive regular contributions, such as improved participant education, incentive structures, and streamlined remittance processes, to ensure the long term sustainability and effectiveness of the PPP.
Meanwhile, further breakdown of the data revealed significant disparities among Pension Fund Administrators, PFAs, in the proportion of funded accounts.
AccessARM Pensions, which holds the largest share of PPP of 107,547 accounts, had only 2,129 funded accounts, representing just 2% of its total accounts funded, indicating a large pool of dormant accounts.
