African Journal of
Business Management

  • Abbreviation: Afr. J. Bus. Manage.
  • Language: English
  • ISSN: 1993-8233
  • DOI: 10.5897/AJBM
  • Start Year: 2007
  • Published Articles: 4137

Full Length Research Paper

Effects of contributory pension scheme on employees’ productivity: Evidence from Lagos state government

Ahmed Ishola Kotun*
  • Ahmed Ishola Kotun*
  • Department of Business Administration, Lagos State University, Ojo, Lagos State, Nigeria.
  • Google Scholar
Abayomi Olarewaju Adeoye
  • Abayomi Olarewaju Adeoye
  • Department of Business Administration, Lagos State University, Ojo, Lagos State, Nigeria.
  • Google Scholar
Nureni Sanusi Alaka
  • Nureni Sanusi Alaka
  • Department of Business Administration, Lagos State University, Ojo, Lagos State, Nigeria.
  • Google Scholar

  •  Received: 16 June 2016
  •  Accepted: 27 July 2016
  •  Published: 28 August 2016


Achimugu A, Ocheni SI, Akubo D (2015). Evaluation of the Contribution of Portfolios of New Contributory Pension Scheme on Nigerian Economy, European Centre for Research Training and Development United Kingdom.


Adams RA (2005). Public Sector Accounting and Finance, Lagos Corporate Publisher Venture.


Adegbayi A (2005). Pension Industry Development in Nigeria, Provision of Pension Reform Act, 2004.


Aire JU (1974). Problems of Social Security in Nigeria. Quarterly J. Admin. 8(4):409-425.


Ako MK (2004). Overview of the Contributory Pension Scheme; Paper Presented to the Nigerian Employers Consultative Association (NECA), Lagos. Monday 26th August, 2004 (accessed 11 April, 2016).


Amstrong M (2010). Hand Book of Personnel Management Practice, (10th ed.), London: Kogan, P 221.


Amujuri BA (2009). New Contributory Pension Scheme in Nigeria, a Critical Assessment, Niger. J. Public Admin. Local Govern. 4(1):137-152.


Atedo NA (2006). The Problems and Challenges of the Contributory Pension Scheme to Nigeria Civil Service, Publication of the Central Bank of Nigeria, 30(2) April-June, P 7.


Balogun A (2006). Understanding the New Pension Reform Act 2004. CBN Bullion 30(2):7.


Blake D (2003). United Kingdom Pension Scheme in Nigeria Pension Institute, Bareback College University of London.


Bertrand M, Sendhil M, Douglas M (2003). Public Policy and Extended Families: Evidence from Pension in South Africa. World Bank Econ. Rev. 17(1):27-50.


Egbe GA (2013). Portfolio Optimization of Pension Fund Contribution in Nigeria. Math. Theory Model. 3(8).


Emiola A (1982). Nigerian Public Officer and Right to Pension. Quarterly J. Admin. 16(1&2):81-101.


Ezem W (2011). Nigeria National Health Policy on Cervical Cancer, J. Public Admin. Policy Res. 3(7):207-212.


Fapohunda TM (2013). Pension System and Retirement Planning in Nigeria. Mediter. J. Soc. Sci. 4(2).


Idowu KO (2006). Pension Reform and Public Workers' Welfare in Nigeria, Paper Presented at the Asia-Pacific Regional Meeting of Economic Association, Hong Kong, January 2006.


Ilesanmi LA (2006). Contributory Pension Scheme in Nigeria: Philosophy Objectives, Features and Implication. A Paper Presented at the Ihsan International Workshop, University of Calabar Teaching Hospital, on 9th September, 2006


Ilo OI (1951). Social Security Minimum Standards, International Labour Conference, Geneva; Tribune de Geneva


Iwu M (2007). Study of the Impact and Implication of Restructuring the Nigeria Pension Scheme, A Study of Enugu State, Nigeria. An unpublished thesis submitted to University of Nigeria. (Accessed 10 March, 2016).


Koszegi B, Rabin M (2007). Mistakes in Choice Based Welfare Analysis. Am. Econ. Rev. 97(2):477-481.


Leigh K (2009). New Pension Scheme Good for Fiscal Discipline. The Nation. Lagos: The Nation Newspaper.


Mbanugo U (2011). Reported in Ezem, F (2006), Pension Act Would Grow Nigeria's Economy: National Standard Newspaper, 7 May.


Masha I (2001). Institutional and Regulatory Issues in Pension System Reform: Country Experiences and Policy Options, Central Bank of Nigeria. Econ. Fin. Rev. 39(2):29-60.


PENCOM (National Pension Commission) (2004) Highlights of the Contributory Pension Scheme in Nigeria. Retrieved, 23rd. 


Nigeria, Federal Government (1958). Pension Reform Act 1958, Lagos: Ministry of Information, Printing Division.


Nunnally JC (1994). Psychometric Theory (3rd ed.), McGraw-Hill, New York


Omoni GE (2013). An Overview of the New Pension Scheme and Teachers Level of Awareness in Delta State of Nigeria: Counseling Complications. Afr. J. Soc. Sci. 3(3):53-63.


Ozor E (2006). Review of Factors that Slowdown the Processing of Retirement Benefits" A paper Presented at the Workshop Organized by the Institute of Chartered Secretaries and Administration of Nigeria, 14th -16th May, 2006.


Samuelson P (1950).Programme of Integrality in Utility Theory. Econ. J. 58:165-84


Smart T (2012). Contributory Pension Scheme and its Administration, De-Atman Press, Lagos.


Smart T (2015). Application of the Contributory Pension Scheme" A paper Presented at the Adeniran Ogunsanya College of Education, Otto/ Ijanikin, Lagos State, 14th March, 2015.


Sterns WL (2006). Work and Retirement in Older Society in Our Aging Society, Paradox and Promise, A. Pifer and L. Bronte eds, New York: Carnage Corporation. pp. 341-365.


Sule KO (2009). Evaluation of the Application of the Contributory Pension Scheme on Employee Retirement Benefits of Quoted Firms in Nigeria, Afri. J. Account. Econ. Financ. Bank. Res. 4:4.


The Nigeria Constitution (1999). Lagos: Federal Government Press.


The Pension Reform Act (2004), Lagos: Federal Government Press.


The Lagos State Pension Commission (2014). Annual Statistical Publication, Lagos State Printing Corporation.


The Lagos State Pension Reform (2007). Lagos State Printing Corporation


Ugwu DS (2006). Contributory Pension, A New Approach to Funding Pension Scheme in Nigeria. A Paper Presented at a Seminar Organized by Mokasha.


Uzoma N (1993). Pension Scheme in Nigeria: Gentle Press Ltd and Kubay Asociates Ltd, Ikeja, Lagos. pp. 231-276.


Wikipedia (2009). Canada Pension Plan, 



World Bank (1994). Encyclopedia Chicago, World Book Inc. Vol. 15.