Abubakar, Ibrahim and Adekunle, Kikelomo J (2018) PENSION FUND INVESTMENT DECISION IN NIGERIA ECONOMY: A Case Study of Nigeria Money Market. In: 1st International Conference and Exhibition on Technical Innovation and Global Competition, 5th – 8th November, 2018, The Federal Polytechnic, Ilaro.
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Abstract
This study provided evidence on the effect of the operation of the funded pension scheme since its inception in 2004 on dynamic economy in Nigeria using error correction mechanism (ECM) and Ordinary Least Square (OLS) This research work, with two objectives, therefore set out to determine the effects of pension contributions on national income and savings in Nigeria. The first objective was to determine the impact of pension fund investment decision on dynamics economy in Nigeria. The second was to determine the extent to which pension contributions have impact in Nigeria economy. The core variable for the study (contributory pension) is in time series form and starts from 2006 and the ordinary least squares estimation technique was used for the study. Methodologies. Findings revealed that the pension fund contributions from both private and public sectors in Nigeria increased greatly and constituted a huge investment fund in the capital and money markets. This increased liquidity in the economy and created employment opportunities as well as improvement in the investment climate. The study concluded that with good risk and portfolio management by pension fund administrators and custodians, the contributory pension has the capacity to boost the Gross Domestic Product (GDP) in Nigeria and very convenient to retirees compared to the previous defined benefit scheme. The study however recommended the removal of delay payment, administrative bottlenecks and corruption in the management of the pension fund in order to boost economy in Nigeria.
| Item Type: | Conference or Workshop Item (Paper) |
|---|---|
| Subjects: | H Social Sciences > H Social Sciences (General) |
| Divisions: | Faculty of Law, Arts and Social Sciences > School of Management |
| Depositing User: | Unnamed user with email [email protected] |
| Date Deposited: | 24 Jun 2022 16:21 |
| Last Modified: | 24 Jun 2022 16:21 |
| URI: | http://eprints.federalpolyilaro.edu.ng/id/eprint/1992 |
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