Nigeria: Pension Scheme Records 4.5 Million Contributors

The licensed Pension Fund Administrators (PFAs) managing the new contributory pension scheme in Nigeria have registered 4,540,352 employees as at the end of second quarter of the current year, the National Pension Commission (PenCom) has announced. PenCom is the supervisory authority in nation's pension industry.

According to the commission, the contributory pension scheme established by the Pension Reform Act 2004 for employees in the country recorded 4,132,217 contributors as at the end of first quarter of the year. This means that more than 400, 000 contributors joined the scheme between the month of March and June 2010. The figure was 4.01 million as at the end of December 2009.

...

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.