PFAs pay N82.57bn to disengaged workers

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Chuks Udo Okonta

Pension Fund Administrators (PFAs) have paid N82.57 billion to 250,293 disengaged workers who have Retirement Saving Account (RSA) and under 50 years but were unable to get another job within four months of their disengagement.

The National Pension Commission (PenCom) said N6.54 billion was paid to 17,828 disengaged RSA holders in the fourth quarter of 2017. A breakdown of the 17,828 revealed that 578 were Federal Government employees; 242 from the state and 17,008 from the private sector.

According to PenCom, of the 250,293 disengaged workers, the private sector accounted for 95.40 per cent which amounted to 238,786 while the public sector accounted for 4.60’per cent which is 11,507 workers.

It said N9.20 billion was also paid as death benefits to beneficiaries of 2,208 deceased employees within the fourth quarter 2017 and N138.90 billion to 44,879 beneficiaries since the inception of the scheme.

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