Learn how pension plans may improve your life after retirement.

Retirement is a moment when you can finally rest and pursue your long-held ambitions. However, if you are unprepared, it might be a difficult period. As a result, it is in your best advantage to grasp what a pension is and why it is important from a young age. This will offer you more time to start thinking about retirement.

THE PENSION REFORM ACT 2014 repeals the Pension Reform Act No .2, 2004 and enacts the Pension Reform Act, 2014 to continue to govern and regulate the administration of the uniform contributory pension scheme for both the public and private sectors in Nigeria. The main aim of the law is to ensure that employees save towards retirement and that every Federal/Public and Private sector employee receives their retirement benefits. The law establishes a mandatory funded contributory Pension scheme based on Individual Retirement Accounts for all Federal and Private Sector employees.

The PRA 2014