PENSION ADMINISTRATION IN NIGERIA AND GERMANY: A COMPARATIVE ANALYSIS
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IMUETINYAN, S. O., PhD
OGIEVA, O. L., PhD| ENABUNENE, O. I PhD
Keywords: Pension Administration; Comparative Public Policy; Nigeria; Germany; Social Security; Financial Sustainability; Productivity Theory.
Abstract
This study conducts a comparative analysis of public sector pension administration in Nigeria and Germany, employing a Most Different Systems Design (MDSD) approach. The research aims to identify similarities and differences in the pension systems of these two distinct political economies, focusing on constitutional provisions, institutional frameworks, financing mechanisms, and perceived beneficiary satisfaction. Utilizing secondary data sources, the study adopts the productivity theory of pension, which posits that pension schemes serve as both an insurance mechanism for retirees and an incentive for workforce productivity. The findings reveal that both countries utilize contributory pension systems, with variations in contribution rates and benefit structures. However, both systems face challenges related to long-term financial sustainability, often exacerbated by political influences. The study recommends among others strengthening the regulatory capacity of pension administration to ensure and protect pension funds and greater transparency in pension funds management and investment to build public trust.
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Published: 2025
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