Public sector contributed N107.7bn to Nigeria’s pension scheme in Q4 2021 – PenCom

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Workers in the public-sector contributed N107.78 billion to Nigeria’s pension savings in the fourth quarter of last year, the National Pension Commission has revealed.

A data from PenCom obtained by Ripples Nigeria on Wednesday showed that total pension contributions remitted to individual Retirement Savings Accounts (RSAs) in Q4 2021 stood at N208 billion

Therefore, the public sector accounted for 51.82 percent of the total pension contributions for the period.

The private sector contributed N101.71 billion or 48.18 percent.

For the 12 months of 2021, the total pension contributions was N879 billion.

The public sector contributed N491.74 billion to the scheme compared to N387.4 billion for the private sector.

In 2020, public sector contributions stood at N536.97 billion, while the private sector contributed N371.12 billion.

Further analysis of the data revealed that private sector workers contributed more to the pension scheme from 2014 to 2019.

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