PenCom data reveals widening gender gap in retirement savings accounts despite steady rise in female contributors over the past decade…..
Nigeria’s contributory pension scheme remains overwhelmingly dominated by male workers, with new figures showing that female participation in the industry continues to trail significantly behind despite years of gradual growth.
Data released by the National Pension Commission revealed that male contributors under the Contributory Pension Scheme rose to 8.75 million in 2025, compared to 3.47 million registered female contributors.
The figures highlight the persistent gender imbalance within Nigeria’s pension industry, where women still account for less than one-third of total Retirement Savings Account holders nationwide.
According to PenCom, female contributors represented just 30.93 per cent of all registered RSA holders during the review period, raising concerns over the low inclusion of women in long-term retirement planning and formal pension structures.
The commission noted that although female participation has improved over the years, the pace of growth remains slower than that of male contributors.
Further analysis of RSA registration trends showed that the number of female pension contributors increased from 10.58 million in 2015 to 14.09 million in 2024, reflecting a 33 per cent growth within the period.
However, male participation also climbed significantly, rising from 18.75 million to 25.84 million over the same timeframe, maintaining a wide gap between both groups.
PenCom said the trend reflects broader structural challenges affecting women’s participation in the formal workforce and access to financial security systems.
The commission added that in 2024, female participation accounted for just 3.95 per cent of total pension contributors in the formal sector, compared to 6.87 per cent recorded in 2015.
Industry experts say the disparity may be linked to several factors, including lower female representation in formal employment, income inequality, career interruptions, and limited financial inclusion among women, especially in rural and informal sectors.
PenCom stressed the need for stronger awareness campaigns, inclusive pension policies, and targeted interventions aimed at increasing female enrollment under the contributory pension scheme.
The commission maintained that improving women’s access to pension participation is critical to strengthening financial security, reducing old-age poverty, and promoting broader economic inclusion across the country.
