Economic and Financial Review


J.S. Akuns


Research Department, Central Bank of Nigeria


Pension, Contributory Pension Scheme, Pension System, Defined Benefits Pension Scheme


In line with global trends in pension reforms as well as stark domestic realities, Nigeria introduced the operation of the DC pension scheme on 1st July 2004. In this regard, the main thrust of the paper is to examine some salient features of the defined contributory pension scheme and their welfare implications to retirees. An overview of the defined contributory pension scheme is carried out in section 2, while country-specific experiences with the defined contributory pension scheme is reviewed in section 3. Issues of public policy on the defined contributory pension scheme are explored in section 4. Finally, section 5 contains the concluding remarks of the paper

Publication Title

CBN Economic and Financial Review (EFR)





Recommended Citation

Akuns, J.S.(2006). Matters arising from the Introduction of the Defined Contributory Pension Scheme in Nigeria: a policy proposal. Economic and Financial Review, 44(1), 137-147.



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