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The higher percentage of younger workers that have joined the Contributory Pension Scheme will help to sustain the system, the National Pension Commission has said.

todayMay 17, 2021 20

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The higher percentage of younger workers that have joined the Contributory Pension Scheme will help to sustain the system, the National Pension Commission has said.

The commission disclosed in its report for the fourth quarter of 2020 that 77 per cent of the contributors were below 40 years of age.

Part of the report noted that a review of the sectoral distribution for the quarter ended December 31, 2020 showed 42,455 of the registrations were from the private sector.

It added that the public sector accounted for 22,718 of the contributors registered while the Micro Pension Plan had 3,654 of the retirement savings accounts registered during the period under review.

Written by: EaglesFM

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