Promoting the operations of the pension industry in Nigeria.

We are an independent, non-governmental, non-political and non-profit making body established to ensure that international best practices relating to the industry are observed by the operators registered in Nigeria.

Our Numbers from inception to May, 2024

10,381,019

CPS Contributors

₦ 2.22 Trillion

Lump Sum

770,405

Retirees

233.4 Million

Nigeria's Population

₦ 21.13 Trillion

Current AUM

36,742

Compliance Certificates

Open a Pension account

Uncredited Contribution Guide

Uncredited Contribution Employer

Uncredited Contribution Beneficiaries

PenOp 2024 First Quarter Newsletter

We are thrilled to share our latest newsletter for 2024, packed with exciting updates from Q4 2023 to January 2024 and important information you would not want to miss!
From insightful industry happenings to various events and more, this newsletter has it all.
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In this edition, we'll be covering key topics such as:
- Corporate Social Responsibility
- Maiden Edition of Ask Me Anything (AMA)
- Conferences and Trainings
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Thank you for your continued support and interest in PenOp. Together, let's make 2024 a year of growth and success!

Read the Newsletter >

Did you know...

...that you can access 25% of your Retirement Savings Account or Micro pension Account to be used for a Mortgage.

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RSA Holders or Micro pension contributors who have consistently saved for a period of 5 years or 60 months can now have access to 25% of their savings in their RSA account to be used for the purpose of acquiring a house from a verified mortgage lender.

…that you can transfer from one Pension Fund Administrator (PFA) to another within 1 year or 365 days

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RSA Holders or Micro pension contributors can now initiate a transfer from one PFA to another through the RSA Transfer System (RTS) which is a computer-based application.

…that you can switch between the different fund structures

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The industry has 6 fund structures (with Fund II being the default fund for all RSA holders) and contributors can switch to or from one fund structure to another.

… that with a Micro pension account you are eligible for a 40% contingency withdrawal

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Micro pension is a voluntary contribution for those with less than 3 employees as well as the informal sector of the country (semi-formal, organized informal and unorganized informal).