2,987 micro pension contributors registered by 18 PFAs in Q1 2022

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By Favour Nnabugwu
A total of 2,897 Micro Pension Contributors were registered by 18 Pension Fund Administrators, under the fist quarter of 2023, according to National Pension Commission, PenCom
Thi e above figure increased the overall number of Micro Pension contributors to 76,588 as at  March 31, 2022.

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.

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