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Home  >  Volume 22 (2012)

Viability of the contributory pension scheme in Nigeria: an elasticity theoretic approach by Virtue U. Ekhosuehi1 and Franca Ekhosuehi2 Volume 22 (November, 2012), pp 257 – 264
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In this study, we propose a necessary condition for a pension scheme to be adjudged viable based on the concept of elasticity in microeconomic theory. Findings reveal that the variation in total retirement savings with the employee-employer contributions in the new pension scheme (i.e. the contributory pension scheme) is not significantly elastic for a Pension Fund Administrator in Nigeria. On the strength of these findings, we make some recommendations in order to enhance the success of the new pension scheme.

Keywords: elasticity; Matlab; pension scheme; retirement savings.