CONTRIBUTORY PENSION SCHEME AND PENSIONERS’ WELFARE: A STUDY OF NIGERIAN INSTITUTE OF SOCIAL AND ECONOMIC RESEARCH (NISER), IBADAN

The Pension Act of2004 which was later amended as the Pension Act 20014 is the contributory pension scheme in the Country. The thrust of this paper is to examine the performance of the policy as it affects the welfare of the retirees in NISER. The paper heightedfew problems of the old pension scheme in Nigeria. To achieve this objective secondary data were sourced and reviewed accordingly. The paper revealed that most retirees are not happy with the new pension policy since their welfare is inadequately caters for. It therefore recommend among others that NISER, an agency of government should endeavour to put in place policy that will enhance the welfare of pensioners and this will bring about more productivity from the would- be retirees