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1 December 2021

PFAs Performance in Challenging Economy

The Contributory Pension Scheme administered by the Pension Fund Administrators has since inception 17 years ago recorded some achievements as well as met some obstacles. In this report, Ebere Nwoji takes a look at the performance of the scheme in the face of the downturn in Nigeria’s economy.

The Contributory Pension Scheme administered by the Pension Fund Administrators has since inception 17 years ago recorded some achievements as well as met some obstacles. In this report, Ebere Nwoji takes a look at the performance of the scheme in the face of the downturn in Nigeria’s economy. The Contributory Pension Scheme (CPS) regime in Nigeria was established by the Pension Reform Act 2004 amended in 2014, which put the management of pension fund in the hands of private organisations called Pension Fund Administrators (PFAS). The investment of the contributed fund was also placed in the hands of different set of investment experts called Pension Fund Custodians (PFCs). - ThisDay e-paper page 28