Registered workers on pension scheme hit 8.5m in Q1 2019 – NBS
Mathew Dadiya, Abuja
The National Bureau of Statistics (NBS) has disclosed that the number of registered workers under the pension scheme in the first quarter of 2019 has increased to 8, 569, 037 compared to 8, 410,184 registered workers in the fourth quarter, 2018.
NBS in its Pension Asset and RSA Membership Data report for the first quarter, 2019 posted on its website, showed that the figure represents a 158,851 increase compared to the previous quarters.
The bureau reported that the Pension Fund Asset, under management as at the period under stood at N9.03 trillion as against N8.63 trillion in the 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.
According to NBS, participants between 50 and 59 years are 18.02 per cent, while participants above 65 years have the least percentage composition with 2.78 per cent.
