The focus of the crafters of the Pension Reform Act from its first signing as an act in 2004 followed by the amendment driven PRA 2014, is to register contributors with long span of years contributing, and amass long term funds for interrupted national economic development, that is the upward trajectory in the gender and age distribution of the Contributory Pension Scheme.
The long active working years of the contributors a sustained increasing percolation is captured by the national pension regulator as the sustainability of the CPS.
In the state of the pension industry captured in the 2021 second quarter report by the National Insurance Commission showed a strong trajectory of youth contributors, this is manifest in the review of RSA registrations for the period which showed that about 82% of registered individuals were below 40 years of age.
Table 4 Gender and Age Distribution of RSA Membership
In their review of this, PenCom said this development “points to the increasing sustainability of the CPS as younger individuals register under the scheme.”
| Age | Quarter ended 30 June 2021 | Inception to 30 June 2021 | ||||||
| Female | Male | Total | (%) | Female | Male | Total | (%) | |
| Less than 30 years | 15,158 | 20,308 | 35,466 | 42.4 | 1,090,318 | 2,297,532 | 3,387,850 | 36.1 |
| 30 – 39 years | 10,952 | 20,685 | 31,637 | 39.8 | 1,034,945 | 2,406,181 | 3,441,126 | 36.7 |
| 40 – 49 years | 3,519 | 7,380 | 10,899 | 12.6 | 508,615 | 1,252,133 | 1,760,748 | 18.7 |
| 50 – 59 years | 1,232 | 2,993 | 4,225 | 4.3 | 163,366 | 539,252 | 702,618 | 7.5 |
| 60 – 65 years | 141 | 574 | 715 | 0.7 | 7,532 | 56,363 | 63,895 | 0.7 |
| Above 65 years | 34 | 197 | 231 | 0.3 | 3,628 | 23,339 | 26,967 | 0.3 |
| Total | 31,036 | 52,137 | 83,173 | 100 | 2,808,404 | 6,574,800 | 9,383,204 | 100 |
| Percentage (%) | 37 | 63 | 100 | 30 | 70 | 100 |
Further analysis of the gender distribution revealed that 63% of those registered RSA holders were male, while 37% were female. From inception to 30 June 2021, gender distribution showed that of those registered RSA holders 70% were male, while 30% were female, and the total registrations to end of June remained respectively 6,574,800 and 2,808,404
