Pension Fund Hits N8.2tr in Q2 2018 With 8.1m Workers

September 1, 2018
Pension Fund Managers

By Dipo Olowookere

Latest figures released by the National Bureau of Statistics (NBS) have revealed that in the second quarter of 2018, the Pension Fund Asset under Management stood at N8.23 trillion as against N7.94 trillion in the first quarter of this year.

The stats office further said the Pension Asset and RSA Membership Data for Q2 2018 reflected that 8,136,202 workers were registered under the pension scheme compared with 7,975,976 registered workers in Q1 2018.

The data further showed that FGN Bonds has the highest weight percentage of 49.08 percent of the total pension fund assets.

This was closely followed by treasury bills with 20.76 percent weight, while domestic ordinary shares accounted for 8.62 percent weight.

In addition, the stats office stated in the report released on Friday that green bonds contributed the least weight of 0.09 percent to the total figure.

Business Post gathered from the data 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.

A further breakdown showed that of the over 8 million registered workers under the scheme, the male participants comprise 5,751,902, while the number of female workers is 2,384,300.

Dipo Olowookere

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

Mr Olowookere can be reached via [email protected]

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