Analysisofthecontributorypensionscheme’srole Inadvancingnigeria’seconomicgrowth

ABSTRACT compliancerates,andcontributedtotheeconomybyprovidinglong-terminvestablefunds. retirees,andregulatoryauthorities.Amixedmethodsapproachwasemployed,integrating tostrengthenNigeria’spensionsystem.Furtherstudiesaresuggestedtoexplorethelong-term TheContributoryPensionScheme(CPS)wasintroducedinNigeriatoaddressthechallengesof oftheCPSinadvancingNigeria'seconomicgrowth,focusingonitsimpactoncontributors, educationonCPSbenefits,improvedregulatoryoversight,andenhancedfundmanagementto However,challengessuchasdelaysinpensionpayouts,lowawarenesslevels,andinadequate optimizethescheme’scontributiontoeconomicdevelopment. quantitativedatafromsurveysof190activecontributorsand50retirees,alongsidequalitative impactofCPSinvestmentsonthecountry'sfinancialmarketsandinfrastructuredevelopment. economicgrowth,identifyingkeyareasforimprovement,andofferingpolicyrecommendations the oldpension systemand ensure the financial securityof retirees. This study analyzes the role contentanalysis,facilitatedrobustanalysis. FindingsrevealthattheCPShassignificantlyenhancedretirementsavingsculture,improved enforcementofregulationswereidentified.Thestudyhighlightstheneedforincreasedpublic Keywords:ContributoryPensionScheme(CPS),OldPensionSystem,economicgrowth, insightsfrominterviewswith10regulatoryofficials.Stratifiedrandomsamplingandstructured TheresearchcontributestoknowledgebyprovidingempiricalevidenceontheCPS'srolein questionnaireswereusedtogatherdata,whiledescriptiveandinferentialstatistics,aswellas regulatoryofficials,contributors,retirees,investablefunds