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April 19, 2024

Job losses don make pension savings withdrawal increase by 17% to N6.6bn

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PENSION.

As hardship increase because of jobs wey people don lose, cash withdrawals by workers wey dem don sack from dia pension contributions don jump go 17.5 per cent to N6.65 billion fo di second quarter of 2022, Q2’22, from N5.66 billion wey dem record for the corresponding period of 2021.

But, for di report National Pension Commission release, PenCom, yesterday di number of sacked workers wey withdraw from their pension savings fall by 2.8 per cent to 9,250 in Q2’22 from 9,517 in Q1’22.

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Dem note for di report say di Commission bin grant approval for di payment of N6,645.54 million.

E mean say 25% of dia Retirement Savings Account, RSA, balances to 9,250 RSA holders under the age of 50 years, wey dem disengaged from employment and dem no fit kon see another job within four months in Q2’22.

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