Pension Reform Act 2004, Pension reform options, customer service.


Pension schemes exit to provide post-retirement I benefits to employees. Pension scheme was introduced into Nigeria during the Colonial era to provide old age income and security to British citizens working in the country upon retirement. This paper discussed the conceptual framework of Pension Reform Act 2004, the dynamics of Pension Reform Act of 2004, the implications and challenges of Pension Act of 2004 as well as feasible options for future developments. The study concluded that, The roles and functions of PFAs and PFCs are Pivotal to the success of the new defined contributory scheme. It behoves on them therefore, to play the game by the rules, ensure probity, sincerity, unflinching commitment to the success of the scheme and provision of services with passion to account holders/pensioners in order to guarantee availability of retirement benefits and when due.

Author Bio

The author is a staff of Central Bank of Nigeria.

Publication Title

CBN Bullion






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