The Effect of Safety of Fund and the Pension Reforms of 2014 in Nigeria

Disu Babatunde Suleman; Odogu Laime Isaac

Title:
The Effect of Safety of Fund and the Pension Reforms of 2014 in Nigeria

Authors:
Odogu Laime Isaac | Disu Babatunde Suleman

Cite This Article :

Odogu Laime Isaac | Disu Babatunde Suleman "The Effect of Safety of Fund and the Pension Reforms of 2014 in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-6 | Issue-5, August 2022, pp.753-764, URL: https://www.ijtsrd.com/papers/ijtsrd50549.pdf

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Abstract :
This study examined the new Pension scheme, the contributory Pension Scheme (CPS), introduced in an Act of 2014, in Nigeria into the Public and Private sectors. The aim is to ensure that the challenges of the old schemes are removed to the barest minimum with the adoption of the new scheme. However, the scheme is being attacked from numerous quarters. The issues of safety of the funds (contributions) seemed to have overshadowed the intended benefits of the scheme. The participants in the scheme are too small to sustain their livelihood. Some have said that the payments fall shorts of their expectations and hence, the need for the scheme to be reviewed, or scrapped. This study shows that safety and adequacy of the fund is important to the sustenance of the scheme.

Keywords :
Pension Scheme, Over-Shadowed, Contributory Scheme

Publication Details:

Unique Identification Number : IJTSRD50549

Published In : Volume-6 | Issue-5, August 2022

Page Number(s) : 753-764

Publisher Name : IJTSRD | www.ijtsrd.com | E-ISSN 2456-6470

Copyright © 2019 by author(s) and International Journal of Trend in Scientific Research and Development Journal. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (CC BY 4.0) (http://creativecommons.org/licenses/by/4.0)

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