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The National Pension Commission has disclosed that 23,673 disengaged workers withdrew a total of N33.43bn from their Retirement Savings Accounts in the third quarter of 2024.

The withdrawals were made under the provisions of the contributory pension scheme, which allows workers who lose their jobs to access up to 25 per cent of their pension savings after four months of unemployment.

Data from the latest Pension Industry Information Dashboard for Q3 2024 shows a decline in the number of unemployed contributors withdrawing from their pension savings compared to previous years.

In 2023, 39,470 contributors withdrew N35.48bn, reflecting a significant drop in the number of applicants and the total amount accessed in 2024.

https://punchng.com/23673-disengaged-workers-withdraw-n33bn-from-pension-savings-pencom/