Q1 2018: 7.98m Workers Are Registered Under The Pension Scheme – NBS

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The NBS, which released its Pension Asset and RSA Membership Data Q4 2017  on Wednesday, February 2017, disclosed that 7,975,976 workers are registered under the pension scheme compared to 7,823,911 registered workers in Q4 2017 while the Pension Fund Asset under Management as at Q1 2018 stood at N7,943mln as against N7,515mln in Q4 2017. 

The pension fund assets were invested in various asset classes by approved existing scheme (AES), closed pension fund administrators, retirement savings account (RSA) active fund as well as RSA retiree fund.

A breakdown of the total pension assets revealed that FGN Bonds has the highest weight percentage of 48.61% of the total pension fund assets and closely followed by treasury bills with 20.89% weight and domestic ordinary Shares with 9.25% weight while agency bonds have the least with 0.07% weight.

A further breakdown showed that the participants within the age distribution 30-39yrs have the highest percentage composition closely followed by participants within the age bracket of 40-49yrs and 50-59yrs while participants above 65years have the least percentage composition.

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