for All

There is something for all
income earners!

Nigeria's pension reform of 2004 was
necessitated by the myriad of problems that
plagued the "pay-as-you-go" schemes in the
public sector and the varying types of pension
schemes that existed within the private sector,
which resulted retirees not getting their

The Pension Reform Act (PRA 2004), the subsequent review and enactment of PRA 2014, introduced the Contributory Pension Scheme (CPS), which made it mandatory for employers and employees in both the Public and Private  sectors to contribute towards employee retirement benefits.

In 2019 also, the Micro Pension Plan was launched, this plan presents an opportunity that helps the low, middle and high income earners in the informal sector (traders, artisans, professionals and other self-employed people who do not qualify for the Contributory Pension Scheme) open Retirement Savings Accounts to save easily by


Browse all topics

  • No, you are either on the MPP or the CPS-No, you are either on the MPP or the CPS
  • No Limits. It may be daily, weekly, monthly or as may be convenient to them.
  • Every contribution received is split into two portions: The Contingent portion (40%) and the Retirement Benefit portion (60%). The Contingent portion of the contribution can be accessed totally or partially, only after the initial remittance has stayed in the RSA for at least 3 months. Also, upon retirement and having attained the mandatory age of 50 years, you can access your retirement benefits in line with the Regulation for Administration of Retirement and Terminal benefits. This is also applicable to contributors that retired on medical grounds.


  • No, you can only make contributions in Nigerian currency.
  • No, but he can make VOLUNTARY contributions in his/her CPS which has nothing to do with Micro Pensions Scheme.
  • No, participants in mandatory contribution cannot convert to Micro Pension Plan.