The cumulative pension contribution from inception to the end of the third quarter of 2022 amounted to N8.24tr, the current National Pension Commission (PenCom) 2022 Third Quarter Report said is an increase from N8.01tr as at the end of Q2 2022.
Providing details of pension contributions remitted to individual retirement savings account RSAs PenCom disclosed that RSAs in Q3 2022 stood at N223.82bn.
The report cleared out of the total remitted in the quarter, the public sector accounted for N120.62bn or 53.89%, while the private sector contributed N103.20bn or 46.11%.
Besides, the report said the aggregate pension contributions of the public sector increased from N4.15tr in Q2 2022 to N4.27tr as at the end of Q3 2022. The rising wave of pension contribution spread to the private sector which increased from N3.86tr in Q2 2022 to N3.96tr as at the end of Q3 2022.