Nigeria. Unremitted pensions: The silent threat to workers’ retirement security
For millions of Nigerian workers enrolled under the Contributory Pension Scheme (CPS), monthly pension deductions are expected to provide financial security after retirement. However, a growing challenge within the system is threatening that promise: The persistent failure of some employers to remit pension contributions deducted from employees’ salaries. Despite nearly two decades of pension reform and significant growth in pension assets, non-remittance of pension contributions remains one of the biggest compliance concerns facing Nigeria’s pension industry. The practice cuts across...
