{"id":188414,"date":"2022-05-17T06:16:57","date_gmt":"2022-05-17T05:16:57","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=188414"},"modified":"2022-05-17T06:16:57","modified_gmt":"2022-05-17T05:16:57","slug":"73-of-workers-under-contributory-pension-scheme-below-40-years-says-pencom","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2022\/05\/17\/73-of-workers-under-contributory-pension-scheme-below-40-years-says-pencom\/","title":{"rendered":"73% of workers under contributory pension scheme below 40 years, says PenCom"},"content":{"rendered":"<p>The National Pension Commission (PenCom) has stated that most contributors under the Contributory Pension Scheme (CPS) are below 40 years.<\/p>\n<p>According to the commission,<span data-preserver-spaces=\"true\">\u00a0the figure represents 73 per cent of the total contributors to the scheme.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">PenCom said this in its 2021 fourth-quarter report \u2014 Age and Gender Distribution.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">According to the report, the number of male contributors surpassed females in the Retirement Savings Account (RSA) holders\u2019 list.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cAnalysis of new <a href=\"https:\/\/www.withinnigeria.com\/news\/2022\/03\/21\/inec-rejects-11-321-applications-in-plateau-over-multiple-registrations\/\">registrations<\/a> on the CPS for the quarter showed that 73 per cent were below the age of 40 years,\u201d the report states.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cThis points to the increasing sustainability of the CPS, as the younger generation are actively being enlisted into the scheme.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cRegarding gender distribution, 65 per cent of those that registered during the quarter were male, while 35 per cent were female.\u201d<\/span><\/p>\n<p>The report further added that over N6 billion was paid to retirees below 50 years under the retirement service account (RSA).<\/p>\n<p>It said the retirement benefit\u00a0paid was higher compared to the fourth quarter of 2021.<\/p>\n<p>\u201cThe Commission approved the payment of N6,414.57 million to 10,804 RSA\u00a0holders under the age of 50 years, who were disengaged from work and unable to secure jobs within four months,\u201d the report added.<\/p>\n<p>\u201cA total of N76.67 billion was paid as retirement benefits in Q4 2021. This was lower than the retirement benefits of N100.91 billion paid in Q3 2021 by N24.24 billion.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The National Pension Commission (PenCom) has stated that most contributors under the Contributory Pension Scheme (CPS) are below 40 years. According to the commission,\u00a0the figure represents 73 per cent of the total contributors to the scheme. PenCom said this in its 2021 fourth-quarter report \u2014 Age and Gender Distribution. According to the report, the number [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":188420,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_bookmark_settings":[],"jnews_override_counter":[],"footnotes":""},"categories":[16587],"tags":[37827,37829,20986,37828],"class_list":["post-188414","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-contributory-pension-scheme-cps","tag-gender-distribution","tag-pencom","tag-retirement-savings-account-rsa-holders-list"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>73% of workers under contributory pension scheme below 40 years, says PenCom<\/title>\n<meta name=\"description\" content=\"The National Pension Commission (PenCom) has stated that most contributors under the Contributory Pension Scheme (CPS) are below 40 years.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/news\/2022\/05\/17\/73-of-workers-under-contributory-pension-scheme-below-40-years-says-pencom\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"73% of workers under contributory pension scheme below 40 years, says PenCom\" \/>\n<meta property=\"og:description\" content=\"The National Pension Commission (PenCom) has stated that most contributors under the Contributory Pension Scheme (CPS) are below 40 years. 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