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

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. 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, URL: https://www.ijtsrd.com/papers/ijtsrd50549.pdf Paper URL: https://www.ijtsrd.com/management/accounting-and-finance/50549/the-effect-of-safety-of-fund-and-the-pension-reforms-of-2014-in-nigeria/odogu-laime-isaac