Proceedings of Global Business and Finance Research Conference
5-6 May, 2014, Marriott Hotel, Melbourne, Australia, ISBN: 978-1-922069-50-4
Performance of Public Sector Contributions on the Growth of the Contributory
Pension Scheme in Nigeria
Ann Uzoamaka Eche
The contributions to the new pension scheme in Nigeria are made from two
source; private and public sector. Private Sector comprises all the organization
that has five or more employees. The public sector comprises the Federal
Capital Territory (FCT), the federal ministries, Agencies, Parastatals, Defense
forces, Commissions, States and Local Government employees etc, but
majority of the state government refused to implement the scheme hence
affecting the performance of public sector contributions. The paper therefore
assessed the significant effect of public sector contributions on the growth of
contributory pension scheme in Nigeria from 2004 – 2011, using Pearson’s
Product Movement Correlation. It was discovered from the result of the
hypothesis that public sector contribution has no significant effect on the growth
and development of contributory pension scheme in Nigeria, and recommends
that National Pension Commission (PENCOM) should enhance the
implementation of the scheme in all the states and local governments in Nigeria.
Keywords: Public Sector, Contributory Pension Scheme, PENCOM, Growth.
___________________
Ann Uzoamaka Eche, Department of Insurance, Institute of Management and Technology (IMT), Enugu,
Email: annuzoamaka@yahoo.com
1