N31.8tn pension assets must guarantee retirement security – Parthian

​L-R: Executive Director, Parthian Financial Services, Olawunmi Abiodun; Manager, Southwest Zonal Office, National Pension Commission, Bolanle Eke; Managing Director, Parthian Pensions, Olufemi Odukoya; Senior Manager, Zonal Office, PenCom, Olubukola Oredugba; and General Manager, Human Resources, Manufacturers Association of Nigeria, Adeyinka Aderigbe, at the Parthian Pensions Stakeholders’ Forum 2026, held at the Civic Centre in Lagos recently. Photo: Parthian Pensions

Parthian Pensions Limited has demanded that the pension industry focus on ensuring retirement dignity for contributors, noting that while Nigeria’s pension assets have expanded to over N31.80tn, the ultimate measure of success remains the ability of those savings to support retirees against inflation, currency depreciation, and rising living costs.

At the Parthian Pensions Stakeholders’ Forum 2026, held recently in Lagos, industry leaders argued that pension reform must go beyond growing assets under management and opening Retirement Savings Accounts to protecting the real purchasing power of workers’ lifelong savings and extending coverage to millions in the informal economy.

The pension fund administrator advocated for a new phase of sector innovation focused on helping Nigerians achieve financial independence in old age, rather than relying on family members for financial support.

Speaking at the event, themed ‘Driving Pension Innovation in a Digital Age,’ the Managing Director and Chief Executive Officer of Parthian Pensions, Olufemi Odukoya, noted that the industry must urgently address the twin challenges of expanding coverage and improving retirement income adequacy.

“Despite the growth of the pension industry into one of Africa’s major financial-sector reforms with N31.80tn in assets under management, persistent macroeconomic pressures continue to erode the real value of accumulated benefits”, Odukoya said.

Similarly, the Executive Director of Operations and Governance at Parthian Financial Services Limited, Olawunmi Abiodun, said, “A pension balance may increase on paper while its real value declines because of inflation.”

“We are entrusted with people’s hard-earned money, accumulated over decades of work, with the expectation that those savings will provide financial security when they are no longer able, or no longer wish, to work,” Abiodun added, noting the core responsibility of pension administrators extends beyond commercial expansion and balance sheet growth.

“The goal of retirement should not be to depend on our children for sustenance. It should be to have the financial independence to live with dignity, meet our needs and, hopefully, enjoy the years after our working lives.”

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Odukoya explained that evolving market dynamics and regulatory requirements have increased responsibilities for pension fund managers, necessitating concrete solutions to structural challenges.

He emphasised that expanding coverage, enhancing benefit adequacy, and positioning pensions as a vital social security mechanism must remain paramount.

“Pension coverage remains a major concern. Millions of Nigerians remain outside the formal pension system, highlighting the need to explore ways to expand participation and make retirement savings more accessible,” Odukoya said.

He further noted that fund managers must evaluate whether accumulated balances will sustain contributors comfortably, especially given persistent inflationary pressure.

Stakeholders at the forum identified digital technology as a key driver for extending pension services to informal sector workers, including artisans, farmers, freelancers, and micro-entrepreneurs with irregular income streams.

The firm indicated that financial technology, including automation, data analytics, artificial intelligence, and digital payment integrations, could streamline remittance processes, optimise record-keeping, and clarify projected retirement outcomes for contributors.

Industry experts concluded that technological adoption must resolve operational bottlenecks directly rather than merely digitising existing procedures, ensuring the next phase of pension growth delivers consistent contributions and improved living standards for retirees.