The Financial Services Commission (FSC) says there were 820 pension plans operating across the industry, holding assets valued at $829 billion as at the end of June this year.
Pension coverage also increased by two per cent to 174,820 workers, representing 12.1 per cent of the employed labour force.
During the period, Jamaica's employed labour force stood at 1.4 million, accounting for 96.7 per cent of those seeking or available for work, prior to the devastation of western Jamaica by Hurricane Melissa on October 28.
Despite the severe impact of the hurricane on the agricultural sector, which directly employs about 250,000 workers, pension statistics were not negatively affected.
The FSC explained that the majority of workers in the sector are not enrolled in approved retirement schemes.
The regulator, which oversees the non-deposit-taking financial sector, further reported that, of the 328 solvent pension plans at the end of the review period, 234 recorded solvency levels between 100 and 120 per cent, while 94 had solvency levels exceeding 120 per cent.
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