By Oluwakemi Kindness
The National Pension Commission (PenCom) is targeting freelancers, artisans, technology professionals and content creators with personal pension plans, urging young Nigerians to start saving early for retirement.
PenCom Director-General Omolola Oloworaran said early financial planning was essential as more young people pursued flexible employment and independent careers.
Speaking at the youth engagement session of the maiden National Pension Week 2026 on Monday, Oloworaran said the pension system must adapt to changing work patterns.
“We will not ask you to fit into an old system. We will build a system that fits the work that you do,” she said.
Oloworaran illustrated the benefits of early savings with a hypothetical example, saying someone who saves ₦10,000 monthly from age 20 could accumulate more than ₦113 million by age 60, assuming a 10 per cent annual return.
“Tolu did not earn more. Tolu did not work harder. Tolu simply started earlier. And that is the power of compounding,” she said.
The PenCom boss urged workers outside formal employment to consider personal pension contributions, urging pension fund administrators, custodians to simplify account opening and improve digital access to their services.
“If a young Nigerian can order food in two clicks, opening a pension account must not take one day,” she said.
PenCom said its digital transformation drive was intended to make pension services more accessible to young Nigerians and people working outside conventional employment structures.
Edited by Julian Osamoto
