Most of us have never had pensions explained to us , but it is very important to know how pensions work in Nigeria. The very basic knowledge you need I don this video. Disclaimer: My channel is for information purpose only.... ( read more )
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Pension in Nigeria is a retirement savings plan that provides a steady income for people after they retire from work. The Nigerian government established the Contributory Pension Scheme (CPS) in 2004 to help citizens save for retirement and to provide a secure and comfortable retirement for them. The Contributory Pension Scheme is a three-tier system that involves the employee, the employer, and the Pension Fund Administrators (PFAs). Employees are required to contribute 8% of their monthly salary to a pension fund. Employers are then requir...
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