The contributory pension scheme (CPS) is flying the green flag emblazoned with sustainability as the younger generation are actively being enlisted into the scheme.
Fourth quarter report of National Pension Commission (PenCom), detailing registrations on the CPS for the last quarter of 2021 show that 73% were below the age of 40 years. In this category, male and female under 30 years account for 36.2% while the percentage for those between 30 to 39 years was 36.7%
Analysis of gender and age distribution further show that 65% of those that registered during the quarter were male, while 35% were female.
As the age grows their engagement in the CPS traditionally drops. This is seen first in the age bracket of 40 to 49 years, which account for 18.6%. In the declining order is the category of 50 to 59 years with 7.4%. Following after are those in 60 to 65 years, they account for 0.7% and at the last rung are those above 65 years with 0.3%