PenCom urges Nigerians to secure retirement through personal pension plan

By** Henry Uche**

The National Pension Commission (PenCom) National Pension Commission (PenCom) has urged Nigerians, particularly small business owners and entrepreneurs, to embrace the Personal Pension Plan (PPP) to secure their financial future and ensure a comfortable retirement.

The commission gave the advice during the 2026 National Pension Week campaign in Lagos, where it stressed that early planning, prudent investment and effective risk management were essential to protecting pension contributions and securing sustainable returns.

With the theme, “Pensions for All: Building a Secure Future Together,” the campaign featured discussions with micro, small and medium-sized enterprise (MSME) operators on financial discipline, business growth and long-term security.

The event was sponsored by FirstHoldCo, African Finance Corporation and Helios, with support from the Pension Fund Operators Association of Nigeria (PenOp).

The Head of PPP at PenCom, Dr Babatunde Alayande, urged Nigerians not to depend solely on travelling abroad in search of better opportunities, saying a well-structured pension plan could help them build financial security at home.

“Your future is guaranteed with PPP. You can start now, today is the day of salvation, don’t delay,” he said.

Similarly, the Managing Director of Parthian Pensions, Mr Olufemi Odukoya, said Nigerians should begin planning for retirement irrespective of their age or income level.

“Anybody can have a Personal Pension Plan. Even minors can be registered under a guardian who must be consistent. Once the child is 18, he or she continues. Age is not a barrier,” he said.

During a panel session titled “Building Business for Growth, Finance and Long-Term Security,” participants urged employers to prepare workers for retirement from the beginning of their employment rather than waiting until they were about to leave service.

They warned employers against treating workers’ retirement benefits casually, stressing that employees needed to understand their retirement plans and financial entitlements early enough to prepare for life after work.

The panellists also advised young Nigerians to seek mentorship, invest in research and development, and build sustainable businesses instead of relying on their children to provide for them in old age.

They further stressed the need for honesty, transparency and accountability in business operations, alongside compliance with regulations and proper financial record-keeping.

“We must be thoroughly compliance in all our business operations: in regulations, financial records and others. We must have business relationships, sound ideas and capacity to attract funding and other support systems,” they said.

The participants maintained that discipline, time management and innovation were essential for entrepreneurs seeking to survive a challenging business environment, expand their operations and achieve long-term financial stability.

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