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Registered workers on pension scheme hit 8.4m in Q4, 2018 -NBS

The National Bureau of Statistics (NBS), said the number of registered workers under the pension scheme in the fourth quarter, 2018 hit 8,410,184 compared to 8,136,202 registered workers in the second quarter, 2018.

A cross section of pensioners

NBS said this in its “Pension Asset and RSA Membership Data Q4, 2018” released on its website.

The bureau said that the Pension Fund Asset, under management as at fourth quarter 2018 stood at N8,637 million as against N8,323million in the second quarter , 2018.

According to the report, the Federal Government (FGN) Bonds have the highest weight percentage of 52.49 of the total pension fund assets.

Your next-of-kin may collect benefits while you are still alive

This, the NBS said was closely followed by treasury bills with 19.37 per cent weight and local money market securities with 8.21 per cent weight.

It said foreign money market securities had the least with 0.04 per cent weight in the period under review.

It said participants within the age range 30-39years had the highest percentage composition closely followed by participants within the age bracket of 40-49years and 50-59 years.

It further said participants above 65 years had the least percentage composition.

In arriving at the report, NBS said data was supplied administratively by the National Pension Commission and verified by the NBS.

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