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Bullion

Keywords

Contributory pension scheme, Pension reform, Pension law

Abstract

This paper examines the Pension Reform Act 2004 (the Act) of Nigeria which brought into existence a Defined Contribution system that was fully funded, privately managed and based on individual accounts for both the public and private sector employees. The Act also established the National Pension Commission as the sole regulator and supervisor on all pension matters in the country. The rest of the paper is arranged as follows: in Section 2, a review was made of the literature on the Nigerian pension systems while institutional and Legal Frameworks were discussed in Section 3 and Section 4 concludes the paper.

Author Bio

The author is the Director General of National Pension Commission

Publication Title

CBN Bullion

Issue

2

Volume

30

Included in

Economics Commons

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