The National Pension Commission (PenCom) has disclosed plans to use a new marketing strategy into its Micro Pension Plan (MPP) to onboard 20 million subscribers on the scheme before the end of 2026.

PenCom's Director General, Omolara Oloworaran, made this known in a presentation at the PenCom Media Conference in Lagos.

She stressed on the shortcomings of the current MPP, adding that it has no resonance with the diverse informal sector, estimated to include 70 million Nigerians.

Oloworaran continued that the commission has planned to redesign the scheme with a brand new structure and technological integration that would make accessibility and scalability easier.

PenCom has also pledged to further engage media owners directly to ensure regular remittance of funds, addressing a long-standing issue that has left workers, particularly in the media sector vulnerable.

Oloworaran has reassured retirees and contributors under the Contributory Pension Scheme (CPS) of more flexible withdrawal options and increased accessibility.

According to her retirees can access up to 50 per cent of their savings as a lump sum upon retirement, provided the remaining balance supports sustainable monthly payments.

As the industry awaits the revamped MPP, stakeholders are confident that Oloworaran’s leadership will restore trust, drive participation and secure the financial future of millions of Nigerians.

Oloworaran concluded that the determined target of onboarding 20 million contributors is an indication of the commission's renewed focus on innovation, accountability and inclusion – a stark contrast to the challenges of the past.