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 31st December, 2022

9,862,375

CPS Contributors

₦ 1.15 Trillion

Lump Sum

570,193

Retirees

219.8 Million

Nigeria's Population

₦ 14.99 Trillion

Current AUM

26,556

Compliance Certificates

Nigerian Economic and Investment Outlook

PenOp hosted a seminar in conjunction with investment houses, Rand Merchant Bank, Standard Bank Group and Africa Finance Corporation (AFC).
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Hosting the event, was Oguche Agudah, CEO of PenOp. It was moderator by Wole Famurewa.
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Representing the investment houses were Rita Bahihuga-Nsanze, Chief Economist, Africa, ANC; Muyiwa Oni, Regional Head, Research, Standard Bank Group; Eyitope Owolabi, Head of Structured Sales, West Africa, Rand Merchant Bank.

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).