With 8m Registered Workers, Pension Fund Assets Hit N7.9tn

Ndubuisi Francis in Abuja

Pension Fund Assets under management as at the first quarter (Q1) 2018 stood at N7.943 trillion as against N7.515 trillion In the fourth quarter (Q4) of 2017, the Pension Assets and Membership Data Q1 2018, has revealed.

The data, which were obtained from the website of the National Bureau of Statistics (NBS) indicated that the Pension Assets and Retirement Savings Account (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.

Giving details of the pension assets, the NBS stated that FGN Bonds has the highest weight percentage of 48.61 per cent of the total pension fund assets, closely followed by treasury bills with 20.89 percentage weight and domestic ordinary Smshares with 9.25 percentage weight while agency bonds have the least with 0.07 percentage weight.

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 have the least percentage composition.