Workers on Pension scheme hit 8.57M in Q1, 2019 – NBS

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The National Bureau of Statistics (NBS) has said Pension Asset and RSA Membership Data in first quarter 201 moved to 8,569,037 workers.

According to the report, Pension Asset and RSA Membership Data Q1 2019 reflected that 8,569,037 workers are registered under the pension scheme compared to 8,410,184 registered workers in Q4 2018 while the Pension Fund Asset under Management as at Q1 2019 stood at N9.03trn as against N8.63trn in Q4 2018. 

The report disclosed that FGN Bonds has the highest weight percentage of 49.37% of the total pension fund assets and closely followed by treasury bills with 21.44% weight and local money market securities with 9.68% weight while foreign money market securities have the least with 0.25% weight.

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“Participants within the age distribution 30-39yrs have the highest percentage composition with 35.77% closely followed by participants within the age bracket of 40-49yrs and 50-59yrs with 28.12% and 18.02% respectively while participants above 65 years have the least percentage composition with 2.78%”.

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