Pensions in Nigeria: The performance of the new system of personal accounts

Bernard H. Casey

21 citations0/0 files storedInternational Social Security Review

No readable copy stored yet — this record is metadata only.

No open-access location is known for this record yet.

Literature note Cite in a project Citation map

Financial Literacy, Pension, Retirement Analysis Social Policy and Reform Studies Economic Policies and Impacts

Abstract

In 2004, Nigeria copied the 1981 Chilean pension reform and established a funded system based upon personal accounts. The new system was neither appropriate for a country such as Nigeria, nor did it meet aspirations of improving pension coverage or helping economic growth. The current financial and economic crisis hit the scheme in so far as it hit stock values. However, more important has been the negative real interest rates that can be earned on government bonds and on bank deposits — where the majority of contributions are invested. Bank scandals and rising fiscal deficits do not breed confidence in the system or the government's ability to deliver meaningful benefits in old age.

Paper brief

Loading…

Cite this work

Citation unavailable for this work.

BibTeX RIS CSL-JSON

No public copy is stored for this record, so only the metadata is cited.

Citations in this library

Citation map →

Stored only when both papers are in the corpus — 21 citations exist upstream.

References

1970Exit, Voice, and Loyalty 2001The Comparative Political Economy of Pension Reform 1995Les métamorphoses de la question sociale : une chronique du salariat 2003The Gains from Pension Reform 2010Just give money to the poor: the development revolution from the global south 2006The Economics of Pensions 1995On the Risk of Stocks in the Long Run 2005Saving Social Security

Explore the map →

Papers that cite the same references — the relational fallback while embeddings are still backfilling.

Imported from OpenAlex (CC0) — nothing here is generated.