Nigeria: Contributory Pension, Life Annuities and Retirees' Benefits

13 February 2013

The National Pension Commission (PenCom) is worried that eight years after the introduction of contributory pension in the country, life annuity, which is one of the two ways retirees can access their monthly pension, is yet to gain ground; with lack of awareness identified as the problem, writes Nnamdi Duru

The contributory pension scheme, which was introduced by the Federal Government a little over eight years ago, seeks to ensure that every worker receives his retirement benefits as and when due.

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