Pdf the pension system and retirement planning in nigeria. The national pension commission pencom is an agency of the federal government of nigeria established by the pra 2004 to regulate and supervise all pension matters in nigeria. The history of the nigerian pensions administration dates back to the 1950s. The new pension scheme introduced a tripartite system with three key autonomous players the regulator, the administrator and the custodian to. Pension reform act 2004 national pension commission. The new scheme is a contributory, privately managed pension. This report explores the key issues surrounding pension funds as a source of financing for african infrastructure and makes a compelling case for reforming the continents pension schemes so. As a result of massscale pension exclusion, rapid life expectancy improvements, negligible lifetime savings and a.
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