‘PFAs paid disengaged workers N4b in Q3’

Please follow and like us:

  • 0
  • Share

Pension Fund Administrators (PFAs) paid N4 billion to 12,464 disengaged workers in the third quarter of last year, a Quarterly Summary Report of the National Pension Commission (PenCom), has shown.

According to the report, the disengaged workers paid by the PFAs are those who have Retirement Saving Account (RSA) and are under 50.

These disengaged workers were also not able to get another job within four months of their disengagement.

The breakdown of the report showed that the private sector accounted for 95.43 per cent, which amounted to 173,578 of the disengaged workers.

The public sector accounted for 4.57 per cent, which is 8,305 workers.

The report further stated that N56.9 billion has been paid to 181,883 disengaged workers since inception of the Contributory Pension Scheme (CPS).

Also, N1.84 billion as death benefits to beneficiaries of 532 deceased employees within the quarter.

The post ‘PFAs paid disengaged workers N4b in Q3’ appeared first on The Nation Nigeria.

Facebook Comments

Please follow and like us:

  • 0
  • Share

Leave a Reply

Your email address will not be published. Required fields are marked *