7.82 Million Workers Register Under Pension Scheme – NBS

No fewer than 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 National Bureau of Statistics (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.

It stated that federal government Bonds had the highest weight percentage of 53.81 per cent of the total pension fund assets.

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.

The report stated that participants within the age distribution of 30 to 39 year had the highest percentage composition.

This, it stated, was closely followed by participants within the age bracket of 40 to 49 year and 50 to 59 year while participants above 60 years had the least percentage composition.

(NAN)