Employers in the public and private sectors remitted about N692bn to the retirement savings accounts of their employees in the first six months of this year.
The National Pension Commission (PenCom) made this known in its latest quarterly report.
The report revealed that in the first quarter, pension contributions stood at N314.17 billion and rose to N377.83 billion in the three months ending June 2024, bringing the total for the first half to N692 billion.
Data from the report further showed that during the review period, the public sector had the highest contribution of N380.28 billion compared to N311.72 billion from the private sector.
A year-on-year comparison showed that the pension contributions in H1 2024 dipped by 7.29 per cent from N746.45 billion in the corresponding period of last year.
At the end of June, the total pension contribution since inception had risen to N10.63 trillion compared to N9.37 trillion at the end of the same period in 2023.
The total pension remittances for 2023 stood at N1.32 trillion.
