Pension

PFAs get N26.63bn monthly from RSA holders

PenCom-360x225

Chuks Udo Okonta
About N26.63 billion is contributed monthly by Retirement Saving Account (RSA), the National Pension Commission (PenCom) has said.
The commission said in a report that the average monthly contributions by the private and public sectors were N17.46 billion and N9.17 billion respectively during the first quarter in 2015.
It said the total pension contributions by both the public and private sectors into the RSA of employees was N2,953.09 billion as at the end of first quarter, 2015, stressing that this was an increase of N79.87 billion, representing 2.70 per cent over the total contributions remitted as the end of December, 2014.
PenCom said while the public sector contributed 34.43 per cent of the total contributions, the private sector contributed the remaining balance of 65.57 per cent during the quarter.
It said the private sector contributions increased from N1, 229.77 billion as at the end of December, 2014 to N1, 282.14 billion as at the end of the first quarter of 2015, representing an increase of 4.26 per cent.

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