%0 Journal Article
%T Solvency of Pension Reform: Issues and Challenges of the Accumulation Phase of Retirements in Nigeria
%A Joshua S. Adeyele
%A Muhammad N. Maiturare
%J Canadian Social Science
%D 2012
%I Canadian Academy of Oriental and Occidental Culture
%R 10.3968/j.css.1923669720120802.1085
%X Objective: The valuation of pension reform was conducted with the primary purpose of determining its sustainability. Method: Compliance level among the participants was examined. In order to ascertain the accuracy of the data supplied by the respondents, their respective salary scales obtained from the payroll offi ces were used. Questionnaires were randomly distributed to workers in various units of the institutions discretionally chosen. The monthly rate of 2 percent used in the scheme valuation represents sanction imposed by the PenCom for any defaulter. Result: Evidence from the study suggests that the valued schemes are deficit as follows: private university, N254, 329, 938; Federal University, N1, 271, 649, 690. Conclusion: If the present trend of noncompliance by some employers is not intersected by the regulatory body in time, many contributors stand the risk of losing their funds as the scheme is not likely to be sustainable. We therefore recommend that the outstanding debts be paid without any further delay. Key words: Solvency; Accumulation phase; Defi ned contribution; Pension scheme R¨¦sum¨¦ Objectif: L¡¯¨¦valuation de la r¨¦forme des retraites a ¨¦t¨¦ r¨¦alis¨¦e avec le but principal de d¨¦terminer sa viabilit¨¦. M¨¦thode: Niveau de conformit¨¦ entre les participants a ¨¦t¨¦ examin¨¦. Afi n de s¡¯assurer de l¡¯exactitude des donn¨¦es fournies par les r¨¦pondants, leurs ¨¦chelles salariales respectives obtenues ¨¤ partir des bureaux de paie ont ¨¦t¨¦ utilis¨¦s. Des questionnaires ont ¨¦t¨¦ distribu¨¦s au hasard aux travailleurs dans les diff¨¦rentes unit¨¦s de mani¨¨re discr¨¦tionnaire des institutions choisies. Le taux mensuel de 2 pour cent utilis¨¦ dans l¡¯¨¦valuation sch¨¦ma repr¨¦sente la sanction impos¨¦e par le PenCom pour tout d¨¦faillant. R¨¦sultat: r¨¦sultats de l¡¯¨¦tude sugg¨¨re que les r¨¦gimes sont ¨¦valu¨¦s d¨¦ficit comme suit: universit¨¦ priv¨¦e, N254, 329 938; Universit¨¦ F¨¦d¨¦rale, N1, 271.649.690. Conclusion: Si la tendance actuelle de non-respect par certains employeurs n¡¯est pas coup¨¦ par l¡¯organisme de r¨¦glementation dans le temps, de nombreux contributeurs se le risque de perdre leurs fonds que le r¨¦gime n¡¯est pas susceptible d¡¯¨ºtre durable. Nous recommandons donc que les dettes seront pay¨¦es sans plus tarder. Mots cl¨¦s: Solvabilit¨¦; Phase d¡¯accumulation; A d¨¦fi nis les cotisations; R¨¦gime de pension
%K Solvency
%K Accumulation phase
%K Defi ned contribution
%K Pension scheme
%U http://cscanada.net/index.php/css/article/view/2411