Only 8.41m Workers On Contributory Pension Scheme

National Pension Commission (PENCOM), says only 8.41 million out of the over 70 million working population in Nigeria are making contributions into the contributory pension scheme.

The acting Chairman of PENCOM, Aisha Dahir-Umar made this known in a document sent to an advice Committee of the House of Representatives investigating the activities of the Commission.

In the document, the Commission reveals that total pension fund assets had grown to N8.63 trillon as of December 2018, with average monthly contributions of N29.15 billion.

As of December 2018, the document says that over 260,808 persons had retired under the scheme and are currently receiving an average monthly pension payment of N10.18bn.

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