Nuradeen Bello Ahmed, Abdulaziz Maruf Adeniran


Over the past decade, the implementation of the New Pension Act 2004 and 2014 as amended, the living conditions of older persons (retirees) in Nigeria had deteriorated due to the eroding status of their economic power largely attributed to the value of the Naira, particularly on the care for the old- age. Relevant provisions under the PRAct, 2014 with particular reference to sections 3,4 and 7  were reviewed having also considered relevant literatures with respect to period under economic recession and the effects of it on retirees. Content Analysis was adopted to draw a conclusion on the subject matter, and suggestions and recommendations were also proffered that sections 3,4 and 7should be reviewed to accommodate recession period for pensioners.  


Defined Contributory Pension; National Pension commission

Full Text:



Adebayo, Y.K. (2006), Essentials of Human Resource Management, Weliscops Services, Benin City.

Akerlof, G. A. & Katz, L. F. (1989), Workers Trust Funds and Logic of Wage Profiles, The Quarterly Journal of Economics 104(3): 525-536.

Atchley, R.C. (1980), The Sociology of Retirement: Cambridge Mass: Schenkman Publishing Company Inc.

Balogun, A. (2006), Understanding the New Pension Reform Act (2004). CBN Bullion, 3:7– 18.

Barrow, G. (2008), Pension Fund Administration in Nigeria. Abuja, Nigeria: Pen and pages Ltd.

Bassey, N.E., Etim O.U., Asinya F. A. (2010), An overview of Nigeria Pension Scheme from 1951-2004.’’ Global Journal of Humanities 7(1 and 2): 61-70

Bethel, O. (2005), Pension Crisis: A Global Phenomenon Drive: Daily Independent Newspaper, November 30. 23-24

Buhari B. K (2016), Management of Human Capital resources under Recession, Paper presentation organized by Nigeria Institute of Management (Chartered), Dec. 2015

Eme O. I., Sam C. U. (2011), The Laws and Administration of Retirement in Nigeria: A Historical Approach: Kuwait Chapter of Arabian Journal of Business and Management Review, 1(2)

Ezeani, E.O (2011), Planning and Managing Post-retirement Socio-economic conditions: A public Service Perspective: A Paper Presented at a four Day Training workshop of Staff of Institute of Management and Technology, Enugu- Nigeria

Fashoyin, T. (1990), An Economic Recession and Employment Security in Nigeria in the 1980s: International Labour Review, 129 (5): 649-663.

Felix, S., Peter W. F. & Willem, A. (2007), Pension Reform in China:Progress and Prospects, OECD Working Paper, OECD.

Njuguna, A.G. (2010), Strategies to improve Pension Fund Efficiency in Kenya:An Unplusblished Ph.D Thesis of Nelson Mandala Metropolitan University: Port Elizabeth.

Keybrigde Research (2008), Key insight of Recession

N.S.I.T.F (1997), What You Need To Know About the N.S.I.T.F, Abuja.

Nwajiagu, C.I. (2007), Procedure for Processing of Retirement Benefits and Computation. An Unpublished Seminar Paper Submitted to the Department of Public Administration and Local Government, University of

Olayiwola, K. (2000), A Pension Scheme Administration in Nigeria: Policy Problems and Policy Issues: DPC Working Paper (99) 11.

Okolie, A.M. & Omenma, J.T. (2011), The New Pension Scheme and Economic Life after Retirement: A Public Sector Perspective: A paper presented at a four-day Training workshop of staff of Institute of Management and Technology, Enugu-Nigeria

Omoresemi, A.A. (1987), Retirement: A Real Transition: Kano Abibas Educational Services Publication Nigeria.

Ozor, E. (2006), Review of Factors that Slow Down the Processing of Retirement Benefits: Paper Presented at the Workshop Oragnized by the Institute of Chartered Secretaries and Administration of Nigeria,Modotel-Enugu

Pension Reform Act Repealed (2014), National Pension Commission,, retrieved, Nov, 30, 2014.

Robelo, M.F (2002), Comparative Regulation of Private Pension Plans,

Sogunle, D (2011), Pension Funds and Investments in Bonds paper [resentaed at the Bond Training Workshops for Accountants and Insurance Companies Organized by NAICOM and SEC Lagos, 27 Sept., 2011

Sule, K.O. Umogbai, M.E. & Emerole, G. A (2011), The Impact of Assets size profitability of Funded Status of Employee Benefits by Qouted Firms in Nigeria’’ Information, Management and Business review. Vol 2 No. 33 Pp 125-132

Ugwu, D.S. (2006), Contributory Pension:A New Approach to Financing Pension Scheme in Nigeria: A Paper Presented at a Seminar Organized by Mokasha.



  • There are currently no refbacks.

Creative Commons License
This work is licensed under a Creative Commons Attribution 3.0 License.