Young workers embrace retirement savings with 74.6% registration

By Rosemary Iwunze

There are indications that young workers are aggressively saving towards their retirement, as over 70 per cent of new Retirement Savings Accounts (RSAs), registered in the third quarter of 2025, Q3’25, were below 40 years.

According to data released by the Pension Fund Operators Association of Nigeria, PenOp, in Q3’25, a total of 129,154 new RSAs were registered, driven largely by young Nigerians.

The report noted that individuals below 40 years accounted for 96,364 registrations, representing 74.61 per cent of total registrations.

According to PenOp, the development underscores rising pension awareness among younger workers and strengthening the long-term sustainability of the Contributory Pension Scheme (CPS).

Further details of the report showed that workers aged 40-49 recorded 24,542 registrations, representing 19 per cent of total registrations.

The report stated: “Enrolment declined sharply among those above 49, suggesting limited first-time participation at older ages. This pattern reinforces the importance of early entry into the pension system and highlights why outreach efforts should remain focused on younger, economically active workers to expand overall coverage.”

The report further noted that from a gender perspective, men accounted for 77,109 registrations, representing 59.7 per cent, while women contributed 52,045, representing 40.3 per cent indicating a narrowing gender gap.

“Female participation increased by 6.5% year-on-year, reflecting the impact of targeted awareness campaigns, improved access to pension services, and rising female participation in the formal workforce.

“Overall, these demographic trends point to healthy progress in CPS adoption, led by strong youth engagement and improving gender inclusion.

“To sustain and deepen this growth, continued digital outreach, workplace partnerships, and targeted engagement with young workers and women will be essential.”

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