The first quarter report on the website of the Commission also revealed that 69 micro pension contributors converted to Contributory Pension scheme with a total of N245,805.93m transfered from Micro Pension fund (Fund V) to RSA Active Funds (Funds II & III).
The commission further said that a total of N34.53m was credited into the RSAs of
8,668 MPP contributors in Q1 2022, bringing the total value of the Micro Pension Fund to N263.57m as at 31 March 2022.
The commission also said it issued a total of 10,541 Pension Compliance Certificates, PCC, to organizations in the first quarter of 2022.
PenCom received 11,200 applications from private sector organizations for the issuance of PCCs. Out of this number, 659 applications were in the approval process as at 31 March 2022.
The records showed that the 10,541
organizations had remitted a total sum of N59,39bn into the Retirement Savings Accounts (RSAs) of their employees, totaling 45,170.