The National Pension Commission (PenCom) has removed age restrictions on its personal pension plan (PPP), allowing Nigerians, including students and newborns, to begin contributing to retirement savings. The move is aimed at deepening financial inclusion and strengthening long-term capital formation.

Director-General of PenCom, Omolola Oloworaran, revealed the development after the second Pension Industry Leadership Council in Lagos, describing it as a major policy shift that will broaden previous age limitations to access retirement planning across all demographics.

With the new directive, individuals can now enrol in the PPP from birth, marking a departure from the previous framework that limited participation to self-employed persons and professionals aged 18 and above.

“The PPP is now open to everyone. The age limitations that existed before have been lifted. Students and newborns can begin contributing.

“The policy shift is expected to accelerate early savings culture in Nigeria, where pension penetration remains relatively low despite over two decades of reform. By enabling contributions from infancy, the initiative introduces a long-term savings horizon that could significantly enhance retirement outcomes through compounding, while also strengthening household financial resilience,” Oloworaran said.