Connect with us
X
Categories:

News

PenCom pays N326 billion as retirement benefits in 2021 – report

Published

on

Share this post:

The National Pension Commission (PenCom) says it has paid N326.32 billion as retirement benefits in 2021.

This is disclosed in the commission’s 2021 annual report obtained by the News Agency of Nigeria (NAN) on Wednesday in Lagos.

PenCom stated that the payments comprised retirement benefits and a 25 per cent payout due to temporary loss of job.

It noted that pension contributions credited into the Retirement Savings Accounts (RSAs) of public sector employees from inception grew from N3.43 billion on Dec. 31, 2020, to N3.93 billion as of Dec. 31, 2021.

According to the PenCom report, the public sector employers-federal, state and local governments contributed N492.43 billion as pension during the year under review.

It said the figure represented an 8.29 per cent decline (year-on-year) when compared with the N536.97 billion recorded in 2020.

The commission added that the cumulative pension contribution received from the private sector from inception to Dec. 31, 2021 rose from N3.27 billion recorded in 2020 to N3.66 billion.

PenCom said the pension contribution credited into the RSAs of private sector employees increased slightly by 4.61 per cent from N371.12 billion in 2020 to N388.23 billion as of Dec. 31, 2021.

According to the commission, total pension contributions remitted into the RSAs of employees dropped to N880.66 billion at the end of 2021.

PenCom said the figure represented a 3 per cent decline compared to the N908.09 billion recorded during the corresponding period in 2020.

“The total pension contributions remitted into the RSAs of employees in both the public and private sectors in 2021 decreased slightly from N908.09 billion recorded in 2020 to N880.66 billion as of Dec. 31, 2021.

“This indicated a 3.02 per cent decline over the reporting period,” the report said.


Get More Stories Like This On: Facebook: @AllNaijaEntertainment, Twitter: @AllNaijaEntertainment
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Expanding Living Space
Lifestyle2 months ago

Expanding Living Space: Prefabricated Workshop Building Kits for Extra Rooms

BeBe Winans
Lyrics2 months ago

BeBe Winans – It All Comes Down to Love [Lyrics]

BeBe Winans
Music2 months ago

[Music] BeBe Winans – It All Comes Down to Love

The Countdown Begins to the Tournament That Has It All
ANE Football Analytical3 months ago

AFCON 2023: A Sporting Spectacle Set to Captivate the World

Litecoin: What Makes It The Crypto Winner?
Technology3 months ago

Runny Inflation Can Drive Cryptocurrency Adoption

Black and White French Bulldog puppies Frenchie Joy
Lifestyle4 months ago

Black and White French Bulldog puppies Frenchie Joy

3 Serious Reasons to Keep Your Teenager Away From Social Media
Lifestyle4 months ago

3 Serious Reasons to Keep Your Teenager Away From Social Media

Boxing vs MMA What Makes Them So Different
Sports5 months ago

Boxing vs MMA: What Makes Them So Different

Roisea: Most Advanced Crypto Trading Platform for Bitcoin
Technology5 months ago

NFTs and Intellectual Property Rights: Shaping Creative Ownership

The Birth of a Rugby Nation South Africas Love Affair with the Sport
Sports9 months ago

The Birth of a Rugby Nation: South Africa’s Love Affair with the Sport

A Beginner's Guide to Radicle (RAD): The Future of Peer-to-Peer Development
Technology10 months ago

A Beginner’s Guide to Radicle (RAD): The Future of Peer-to-Peer Development

Analysis of Nigeria's Renewable Energy Sector: Opportunities and Challenges
Technology11 months ago

Analysis of Nigeria’s Renewable Energy Sector: Opportunities and Challenges

Casino Gaming Poker
Sports11 months ago

What Are The Various Types Of Online Slots?

Luka Modric celebrates after scoring Real Madrid's second goal against Celta Vigo.
Sports1 year ago

Luka Modric set to join Ronaldo in Saudi Arabia’s Al Nassr

WHO World Health Organization
Health1 year ago

WHO debunks claims that tuberculosis is caused by witchcraft, poison

Atiku Abubakar
News1 year ago

2023 Election: Why DSS must arrest Fani-Kayode – Atiku

PDP Logo Umbrella
News1 year ago

PDP suspends National Chairman

The Pastor Daughter Story by Miriam Edem _ ANE Story
ANE Stories1 year ago

[STORY] THE PASTOR’S DAUGHTER (Final Episode 13)

The Pastor Daughter Story by Miriam Edem _ ANE Story
ANE Stories1 year ago

[STORY] THE PASTOR’S DAUGHTER (Episode 12)

The Pastor Daughter Story by Miriam Edem _ ANE Story
ANE Stories1 year ago

[STORY] THE PASTOR’S DAUGHTER (Episode 11)

The Pastor Daughter Story by Miriam Edem _ ANE Story
ANE Stories1 year ago

[STORY] THE PASTOR’S DAUGHTER (Episode 10)

The Pastor Daughter Story by Miriam Edem _ ANE Story
ANE Stories1 year ago

[STORY] THE PASTOR’S DAUGHTER (Episode 09)

The Pastor Daughter Story by Miriam Edem _ ANE Story
ANE Stories1 year ago

[STORY] THE PASTOR’S DAUGHTER (Episode 08)

The Pastor Daughter Story by Miriam Edem _ ANE Story
ANE Stories1 year ago

[STORY] THE PASTOR’S DAUGHTER (Episode 07)

The Pastor Daughter Story by Miriam Edem _ ANE Story
ANE Stories1 year ago

[STORY] THE PASTOR’S DAUGHTER (Episode 06)

The Pastor Daughter Story by Miriam Edem _ ANE Story
ANE Stories1 year ago

[STORY] THE PASTOR’S DAUGHTER (Episode 05)

The Pastor Daughter Story by Miriam Edem _ ANE Story
ANE Stories1 year ago

[STORY] THE PASTOR’S DAUGHTER (Episode 04)

The Pastor Daughter Story by Miriam Edem _ ANE Story
ANE Stories1 year ago

[STORY] THE PASTOR’S DAUGHTER (Episode 03)

The Pastor Daughter Story by Miriam Edem _ ANE Story
ANE Stories1 year ago

[STORY] THE PASTOR’S DAUGHTER (Episode 02)

The Pastor Daughter Story by Miriam Edem _ ANE Story
ANE Stories1 year ago

[STORY] THE PASTOR’S DAUGHTER (Episode 01)

The Pastor Daughter Story by Miriam Edem _ ANE Story
ANE Stories1 year ago

[STORY] THE PASTOR’S DAUGHTER (Complete Episodes)

Papa Loves His Girls by Opeyemi Ojerinde Akintunde_ANE Stories
ANE Stories1 year ago

[STORY] PAPA LOVES HIS GIRLS (Episode 16)

Papa Loves His Girls by Opeyemi Ojerinde Akintunde_ANE Stories
ANE Stories1 year ago

[STORY] PAPA LOVES HIS GIRLS (Episode 15)

Papa Loves His Girls by Opeyemi Ojerinde Akintunde_ANE Stories
ANE Stories1 year ago

[STORY] PAPA LOVES HIS GIRLS (Episode 14)

Papa Loves His Girls by Opeyemi Ojerinde Akintunde_ANE Stories
ANE Stories1 year ago

[STORY] PAPA LOVES HIS GIRLS (Episode 13)

Papa Loves His Girls by Opeyemi Ojerinde Akintunde_ANE Stories
ANE Stories1 year ago

[STORY] PAPA LOVES HIS GIRLS (Episode 12)

Papa Loves His Girls by Opeyemi Ojerinde Akintunde_ANE Stories
ANE Stories1 year ago

[STORY] PAPA LOVES HIS GIRLS (Episode 11)

Papa Loves His Girls by Opeyemi Ojerinde Akintunde_ANE Stories
ANE Stories1 year ago

[STORY] PAPA LOVES HIS GIRLS (Episode 10)

Papa Loves His Girls by Opeyemi Ojerinde Akintunde_ANE Stories
ANE Stories1 year ago

[STORY] PAPA LOVES HIS GIRLS (Episode 09)

Papa Loves His Girls by Opeyemi Ojerinde Akintunde_ANE Stories
ANE Stories1 year ago

[STORY] PAPA LOVES HIS GIRLS (Episode 08)

ANE Billboard Hots