by NIyi Jacobs
The National Pension Commission (PenCom) has announced plans to support one million self-employed women in Nigeria to prepare for retirement by enrolling in a specially designed pension scheme. The initiative aims to extend financial security and long-term savings opportunities to women operating outside formal employment.
Under the program, women entrepreneurs and informal sector workers will have access to a tailored pension plan that accommodates irregular income patterns while ensuring contributions are invested for future growth. PenCom officials said the scheme is part of ongoing efforts to expand coverage under the Contributory Pension Scheme (CPS), particularly for underserved groups in the country.
The Director-General of PenCom, Omolola Oloworaran, emphasized that empowering women with access to retirement savings is crucial for promoting financial inclusion and long-term economic stability. “We want self-employed women across Nigeria to have the same opportunity as those in formal employment to save for their future and enjoy a dignified retirement,” she stated.
The commission is partnering with financial institutions, women’s associations, and community organizations to raise awareness, simplify enrollment, and ensure the scheme reaches women across urban and rural areas.
With this initiative, PenCom is taking a significant step toward bridging the pension coverage gap in Nigeria, fostering financial independence, and promoting a culture of savings among self-employed women
