Opportunities, challenges ahead of Nigeria’s pension, by Agusto & Co

FROM the expected growth in the numbers of new registrations, increase in contributory rates, to the accumulation of more fund by the Pension Commission (PenCom), which are positive developments of the newly signed pension Act, there are however, emerging challenges of bureaucracy in implementing some of the contents and probable difficulties that would beset small businesses.

Agusto & Co, in its Economic Newsletter, which focused on the New Pension Reform Bill 2014, noted that on the face of it, expanding the contributory pension scheme to cover organisations with as little as three employees could potentially increase and even lead to a spurt in the pension base. Continue Reading