184,979 retirees benefit from pensions scheme — PenCom

184,979 retirees benefit from pensions scheme — PenCom

The National Pension Commission (PenCom) on Saturday said at least 184,979 retirees have benefited from the Contributory Pensions Scheme.

The Acting Director-General of PenCom, Mrs. Aisha Dahir-Umar, disclosed this at a retreat organised by Pension Operators (PenOp) in Abeokuta, Ogun State.

She said as at March 2017, the retirees were receiving pensions regularly with an average monthly pension payment of N6.7 billion.

She commended the Federal Government for providing stable, predictable and adequate source of income for employees.

Dahir-Umar, who was represented by the Head of Research and Management, PenCom, Mr. Aminu Farouk, said the pension fund assets had also increased to N6.42 trillion.

She said the N6.42 trillion represents the total pension asset grown as at March with an average monthly contribution of N30 billion.

He said the number of registered contributors increased significantly to 7.4 million within the same period.

She said the total pension assets were equivalent to six per cent of the Nigeria rebased Gross Domestic Product (GDP).

According to her, PenCom has been able to pull more than 200,000 private sector employers to the scheme and has contributed more than 60 per cent of the total pension assets.

NAN

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