Live Covid-19
United States 89,360,080
Cases: 89,360,080
Deaths: 1,042,678
Recovered: 84,916,391
Active: 3,401,011
India 43,471,282
Cases: 43,471,282
Deaths: 525,139
Recovered: 42,836,906
Active: 109,237
Brazil 32,358,451
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Active: 840,135
France 31,083,859
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Active: 1,313,337
Germany 28,293,960
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United Kingdom 22,720,345
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Italy 18,523,111
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Russia 18,433,394
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Turkey 15,123,331
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Spain 12,734,038
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Japan 9,329,520
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Netherlands 8,184,179
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Active: 98,318
Australia 8,162,153
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Active: 247,128
Iran 7,238,126
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Colombia 6,175,181
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Indonesia 6,090,509
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Mexico 6,034,602
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Poland 6,015,634
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Portugal 5,171,236
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Ukraine 5,017,038
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North Korea 4,744,430
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Deaths: 73
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Active: 8,137
Malaysia 4,566,055
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Deaths: 35,765
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Active: 29,434
Thailand 4,525,269
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Deaths: 30,667
Recovered: 4,470,490
Active: 24,112
Austria 4,438,883
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Deaths: 18,792
Recovered: 4,314,940
Active: 105,151
Israel 4,344,800
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Deaths: 10,958
Recovered: 4,259,884
Active: 73,958
Belgium 4,225,222
Cases: 4,225,222
Deaths: 31,903
Recovered: 4,122,858
Active: 70,461
South Africa 3,993,843
Cases: 3,993,843
Deaths: 101,793
Recovered: 3,880,462
Active: 11,588

Impact of Inflation on Pension Fund of the Nigerian Pension Industry

Impact of Inflation on Pension Fund of the Nigerian Pension Industry

ABSTRACT

This study was on the impact of inflation on the pension fund of the Nigerian pension industry.  The specific objectives were to investigate the impact of inflation rate on private sector contribution to total pension fund’ to examine the impact of inflation rate on public sector contribution to the total pension fund, and to analyze the impact of inflation rate on a total pension contribution. The study used Ex-post facto research design. Three hypotheses were formulated and tested using Ordinary least square regression as an analytical technique. It was found that the inflation rate did not significantly impact on private sector contribution to the total pension fund; inflation rate did not significantly impact on public sector contribution to the total pension fund, and inflation rate did not significantly impact on a total pension contribution. Based on the findings of the study it was concluded that the inflation rate did not significantly impact on pension fund of the Nigerian pension industry. It was recommended that effort should be put in place to reduce the level of inflation in Nigeria. This will reduce the strain on disposal income of people who due to high prices of goods and services are pressured to spend almost all they earn to feed. By reducing inflation, the public would have more savings and be able to contribute to a pension fund. In addition, the pension industry should invest in only inflation-adjusted financial instruments. This will minimize the pull of inflation on the income from such investment. By such investment, the industry would have put the contributions they generate to significant use.

Keywords: Inflation, Nigerian Pension Industry, Pension Fund

Authorship
1Okparaka, Vincent Chukwuka PhD. and 2Jimoh, Taiwo M | Full PDF

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