Only 10.93% of Nigerian workers registered under pension scheme in Q2 – NBS
Fresh figures from the website of the National Bureau of Statistics (NBS) has shown that only 10.93 per cent of the total working population under the pension scheme.
The details further revealed that the Retirement Savings Account (RSA) membership distribution data for second quarter, 2017 reflected that over 7.5 million workers on the platform.
The NBS stated this in a report on “Retirement Savings Account (RSA) Membership Distribution for Second Quarter, 2017’’ posted on the bureau’s website on Tuesday in Abuja.
However, the figure show over 7.5 million workers in the second quarter compared to 7.4 million in first quarter of 2017 out of a total working population of over 69 million workers.
NBS noted that the figure was not surprising, given the largely informal structure of the labour force with about 50 per cent of the current workforce engaged in subsistence agriculture and informal trading.
While revealing that micro businesses accounted for over 90 per cent of total Micro, Small and Medium Scale Enterprises in Nigeria NBS disclosed that out of a total male working population of 36 million, only 5.3 million or 14.83 per cent male workers registered under the pension scheme as at second quarter.
Also, only 2.1 million or 6.64 per cent out of a total female working population of 33 million registered under the scheme as at the second quarter.
Accordingly, it stated that out of the 7.5 million RSA members, 71.04 per cent were men and 28.96 per cent were women compared to 71.10 per cent men and 28.90 per cent women in first quarter of 2017.
The report further stated that the highest number of registered working population came from the age bracket of 30-39 years and closely followed by the working population within the age bracket of 40 -49 years and 50-59 years.
It, however, stated that the least number of registered working population came from above 65 years and 60 – 65 years age bracket.
