PenCom clarifies 38% decline in pension remittances, cites one-off government payments
The National Pension Commission (PenCom) has clarified that the 38% decline in pension contributions recorded in the first quarter of 2026 was largely due to exceptional Federal Government remittances made in the preceding quarter. The post PenCom clarifies 38% decline in pension remittances, cites one-off government payments appeared first on Nairametrics .
The National Pension Commission (PenCom) has clarified a 38% decline in pension contributions during the first quarter of 2026. Initial figures showed total pension contributions dropped to N559.42 billion from N903.70 billion in the previous quarter. However, PenCom attributed this decline to a one-off boost in government payments in the preceding quarter.
An analysis by PenCom revealed that Q4 2025 contributions were inflated by N499.15 billion in extraordinary government inflows. Excluding these exceptional inflows, underlying pension contributions for Q4 2025 were actually N404.55 billion. Adjusting for these one-off government payments, the Q1 2026 figure represents a 38.2% increase.
PenCom also revealed intensified compliance enforcement efforts, including engagement with the ICPC on unresolved cases. The clarification comes as consultations on Pension Reform Act (PRA) 2014 amendments continue, though the proposed changes have faced opposition from the Organised Private Sector of Nigeria (OPSN) due to concerns about increased employer costs.
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