As of the end of the second quarter of 2023, Stanbic IBTC Pension Managers had amassed approximately 2,034,226 RSA members, constituting a significant 20 percent of the 10 million total RSA members in Nigeria.
Nigeria’s Retirement Savings Account (RSA) landscape has shown a surge in new registrations for the second quarter of 2023, further solidifying the steady growth recorded in the first quarter of 2023.
The latest figures reveal an 82 per cent youth participation rate, highlighting the younger generation’s growing involvement in the nation’s Contributory Pension Scheme (CPS).
Meanwhile, new industry competitors Access Pensions and GT Pensions continued their aggressive growth trajectory by adding 7,215 and 1,078 new RSA members in the second quarter of the year.
This compares to 7,747 and 879 RSA members that Access Pensions and GT Pensions, respectively, added in the first quarter.
Access Pensions, which recently acquired Sigma Pensions, has added close to 15,000 new RSA members over the past six months.
