Data released by the Financial Services Commission (FSC) indicate that the total value of the country's private pensions industry was $782.41 billion or 23.76% of gross domestic product (GDP) as at the end of September last year.
The FSC adds that this represented an increase of 2.22% when compared with the quarter ended June 2024.
The Commission says this was the first increase in pension fund assets since the 2.95% growth recorded in 2023.
Meanwhile, the FSC also pointed out that there were 819 pension plans with 164,775 members, but only 364 were active.
It says total private sector pension coverage was only 11.68% of the total employed labour force of 1.416 million as at the end of September last year.
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