The National Pension Commission (PenCom) has announced a significant expansion in compliance across Nigeria’s pension industry, recording unprecedented pension recoveries and reforms that signal a renewed era of accountability and trust.
Speaking at a media engagement in Lagos, the Director-General of PenCom, Omolola Aroworaran, presented the Commission’s scorecard, describing 2025 as a year defined by bold decisions, structural reforms, and measurable impact.
According to her, total pension recoveries between January and November 2025 rose sharply to ₦4.04 billion, a remarkable leap from the ₦1.44 billion recovered throughout the entire 2024 financial year. This represents an increase of over 180 per cent.
She disclosed that the momentum peaked in the third quarter of 2025, during which ₦2.06 billion was recovered—almost 150 per cent of the total recoveries recorded in the whole of 2024.
The Director-General noted that the improved recovery figures were matched by a clear shift in compliance behaviour across the industry. Before the third quarter, Pension Clearance Certificates were issued at a modest quarterly average of about ₦150 billion. However, following a key regulatory circular, issuances in the third quarter surged to approximately ₦233 billion, far exceeding previous quarterly averages.
Describing the engagement with the media as more than a celebration, Aroworaran said it was “a review, a reckoning, and a recommitment.” She stressed that PenCom’s reforms were driven by dialogue, data, and discipline, rather than isolation.
Looking ahead, she outlined the Commission’s priorities in the next phase of what she termed the “Pension Revolution”—expanding coverage, deepening public trust, improving investment outcomes, strengthening supervision, and safeguarding retirees.
“Retirement security is not a privilege; it is a right,” she declared, vowing that PenCom would continue to defend that right firmly and fairly.
The Director-General recalled that the Commission formally launched Pension Revolution 2.0, the most far-reaching reform agenda in the Nigerian pension industry since 2004.
She highlighted one of the year’s most historic milestones: the Presidential approval and disbursement of ₦758 billion to clear outstanding pension liabilities. According to her, the unprecedented intervention sent a strong message that Nigeria honours its commitments to workers and retirees.
She further revealed that the Commission cleared long-standing pension increase backlogs for Federal Government treasury-funded retirees—some dating back to 2007. With effect from July 2025, zero waiting time for the payment of accrued pension rights was restored.
“Retirees now receive their benefits when due—not months or years later,” she said, underscoring PenCom’s renewed commitment to dignity and security in retirement.
