Analysisofthecontributorypensionscheme’srole Inadvancingnigeria’seconomicgrowth

Student: Rukayat Abisola Jimoh (Project, 2025)
Department of Actuarial Science
Ekiti State University, Ado-Ekiti, Ekiti State

Abstract

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

Keywords
retirees seconomicgrowth economicgrowth analysisofthecontributorypensionscheme srole inadvancingnigeria abstract compliancerates andcontributedtotheeconomybyprovidinglong-terminvestablefunds andregulatoryauthorities
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