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

May 25, 2018

By InvestAdvocate

Lagos (INVESTADVOCATE)-The National Bureau of Statistics (NBS) said on Friday that 7,975,976 workers are registered under the pension scheme in the first quarter (Q1) 2018 compared to 7,823,911 registered workers in Q4 2017, according to its latest report.

“The Pension Asset and RSA Membership Data Q1 2018 reflected that 7,975,976 workers are registered under the pension scheme compared to 7,823,911 registered workers in Q4 2017,” the NBS said.

According to the nation’s statistics office, the Pension Fund Asset under Management as at Q1 2018 stood at N7,943 million compared to N7,515 million in Q4 2017.

NBS says Federal Government of Nigeria (FGN) bonds has the highest weight percentage of 48.61 percent of the total pension fund assets and closely followed by treasury bills with 20.89 percent weight and domestic ordinary Shares with 9.25 percent weight while agency bonds has the least with 0.07 percent weight.

The NBS reports that participants within the age distribution 30-39 years have the highest percentage composition closely followed by participants within the age bracket of 40-49 years and 50-59 years while participants above 65 years has the least percentage composition.

Click here to download full PDF copy of report

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