As pension systems play a crucial role in ensuring financial security for retirees, effective management and reform are essential for both economic stability and individual well-being. This course aims to equip you with a thorough understanding of the historical development, current challenges, and future prospects of pension reforms and administration in Nigeria.
By understanding the intricacies of pension schemes, participants will develop a critical perspective on the system’s strengths and weaknesses. The course will examine the impact of key reforms, such as the Pension Reform Act of 2004, on pension coverage, fund management, and retiree benefits. Participants will also explore the role of pension funds in economic development and capital market growth.
Furthermore, the course will address emerging challenges facing the pension system, including demographic changes, inflation, and investment risks. It will equip participants with the tools to analyze pension fund performance, assess the adequacy of retirement benefits, and propose innovative solutions to enhance pension sustainability. By the end of the course, participants will be well-prepared to contribute to the ongoing development and improvement of Nigeria’s pension system.
At the end of this course, participants should be able to:
• Develop a comprehensive understanding of the historical development of pension systems in Nigeria, including key reforms and their impact on the current system.
• Critically analyze the objectives, provisions, and outcomes of major pension reforms, such as the Pension Reform Act of 2004, and assess their effectiveness and challenges.
• Gain in-depth knowledge of the structure and functioning of pension administration in Nigeria, including the roles of regulatory bodies, pension fund administrators, and other key stakeholders.
• Identify and evaluate key issues and challenges facing the Nigerian pension system, including compliance, transparency, adequacy of benefits, and coverage gaps.
• Understand the legal and regulatory environment governing pensions in Nigeria and assess the effectiveness of regulatory mechanisms and enforcement practices
• Evaluate the impact of pension reforms on various stakeholders, including employees, employers, and financial institutions, and understand the implications for socio-economic stability.
Module 1: Understanding the Pension Landscape
• Overview of pension schemes: Defined benefit, defined contribution, hybrid
• Pension reforms in Nigeria: A historical perspective
• The Pension Reform Act of 2014: Key provisions and implications
Module 2: Navigating the Pension Regulatory Environment
• The role of PenCom in pension administration
• Compliance requirements for oil and gas companies
• Pension fund management and investment regulations
• Risk management and governance in pension schemes
Module 3: Pension Administration and Employee Benefits
• Pension administration best practices for oil and gas companies
• Employee benefits beyond pensions: Group life insurance, health insurance, etc.
• Tax implications of pension and other employee benefits
• Retirement planning and counselling for employees
Module 4: Challenges and Opportunities in Pension Management
• Funding challenges in pension schemes
• Pension fraud and corruption: Prevention and mitigation
• Pension portability and transferability: Issues and solutions
• Emerging trends in pension management
Module 5: Emerging Trends and Future Outlook
• Impact of technology on pension administration
• Sustainability and environmental, social, and governance (ESG) factors in pension investments
• Global pension trends and their implications for Nigeria
• The future of pension schemes in Nigeria
• Policy Makers and Government Officials
• Financial Professionals
• Employees and Retirees
Venue: Kenya
Duration: 1 Week
Date: Open
