Nigerian workers have received a total of N223.82 billion in their retirement savings accounts as at the third quarter of last year.
This was disclosed by the National Pension Commission (PenCom) in its latest quarterly report published on its website.
Ripples Nigeria’s findings revealed that out of this total, workers in the public sector accounted for N120.62 billion or 53.89 percent, while the private sector contributed N103.20 billion or 46.11 percent.
Also the report revealed that the cumulative pension contributions from inception to the end of the third quarter of 2022 amounted to N8.24 trillion
It further stated that the aggregate pension contributions of the public sector increased from N4.15 trillion in 02’22 to N4.27 trillion as at the end of Q3’22.
Similarly, the aggregate pension contributions of the private sector also increased from N3.86 trillion in Q2’22 to N3.96 trillion as at the end of Q3’22.
On investment, the commission revealed that the value of investments in quoted ordinary shares (domestic and foreign) stood at N964.87 billion (6.68% of total assets under management), indicating a net decrease of N104.19 billion (9.75%) compared to N1.07 trillion as at 30 June, 2022.
