Nigeria’s contributory pension scheme CPS shows a strong sustainability by the active participation of younger generation enlisted in the scheme.
The First Quarter 2022 Report of National Pension Commission stated the dominance of the younger generation “points to the increasing sustainability of the CPS, as the younger generation are actively being enlisted into the scheme.”
The Report stated that the analysis of new registrations on the CPS for the quarter ended 31 March 2022 showed that 86.4% were below the age of 40 years.
Regarding gender distribution, 66% of those registered during the quarter were male, while 34% were female. From inception to the first quarter, the male gender registration was 70%, while the female was 30%.
The long gestation contributions guarantee large pension assets for investments in the economy as determined bt the Pension Reform Act 2014 for a sustainable economic development in the near and future.