Workers on pension scheme hit 8,569,0037 in Q1 2019 – NBS

The number of registered workers under the pension scheme in the first quarter of 2019 hit 8, 569, 037 compared to 8, 410,184 registered workers in fourth quarter, 2018, the National Bureau of Statistics (NBS) has said. 

According to the NBS in its “Pension Asset and RSA Membership Data’’ for first quarter, 2019 posted on its website, the figure represents a 158,851 increase in the number of registered workers on pension scheme. 

The bureau said the Pension Fund Asset, under as at the period under stood at N9.03 trillion as against N8.63 trillion in first quarter, 2018.

According to the bureau, Federal Government Bonds have the highest weight percentage of 49.37 per cent of the total pension fund assets.

Treasury bills followed closely with 21.44 per cent weight and local money market securities with 9.68 per cent weight.

The bureau said foreign money market securities had the least with 0.25 per cent weight in the period under review.

It said participants within the age distribution 30 -39 years had the highest percentage composition with 35.77 per cent, closely followed by participants within the age bracket of 40-49 years with 28.12 per cent.

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