Annuity Market And Payout Phase Of Accumulated Pension Funds In Nigeria

📄 Project Abstract

Researchers and policy makers throughout the developed and emerging economies in the world have devoted substantial effort to exploring what motivates individual asset accumulation patterns. It is during the accumulation phases that a society seeks to build up resources adequate to finance retirement. The overall intention of these reforms has been to ensure financial stability so as to influence retirement security. This inherent risk was what brought about the change in the pension system of most countries and to sustain it the proper regulations has to be adopted in the form of shift to the Newly contributory scheme in 2004. The objective of this study is to find out the extent to which stakeholders in the pension industry perceive the impact of annuities in financing retirement in Nigeria. The study adopted historical and survey research design to gather both primary and secondary data. Data for this study were analyzed using both descriptive (mean, percentages and ranking).The sco...