NBS Says 7.98 Million Workers Registered Under Pension Scheme as at Q1 2018

BY NKECHI NAECHE—-The National Bureau of Statistics (NBS) has said that about 7.82 million workers are registered under the pension scheme in the fourth quarter of 2017 compared to 7.71 million registered workers in the third quarter of the year.

The NBS made this known in “Pension Asset and Membership Data for Fourth Quarter, 2017’’ posted on its website.

The bureau stated that the Pension Fund Asset under Management as at fourth quarter stood at N7.5 trillion as against N7.2 trillion in third quarter of the year.

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.

It added 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 has the least with 0.07% weight.

This, the report stated, was closely followed by treasury bills with 15.68 per cent weight.

It stated that domestic ordinary shares were 8.94 per cent weight while agency bonds had the least with 0.08 per cent weight.

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 has the least percentage composition.






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