Pension at State Government Level

In 2004, the Federal Government of Nigeria enacted the Pensions Reform Act (PRA 2004) which introduced the Contributory Pension Scheme (CPS) and made it mandatory for employers and employees in both the public and private sectors to contribute towards the retirement benefits of employees.

In 2014, the PRA 2004 was repealed and a new act PRA 2014 was signed into law. This new act has now made it mandatory for state and local governments to implement contributory pension schemes for their employees.

It is our view that state governments can no longer ignore the need to implement it even amidst rising recurrent expenditure and the current economic climate.

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Contact us

Mary Iwelumo

Partner & Ethics and Business Conduct Leader, PwC Nigeria

Tel: +234 1 271 1700

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