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  • Date: 7/30/2014

Nigeria – New Pension Reform Law Brings Change for Employers and Employees 

On July 1, 2014, Nigeria’s President signed the Pension Reform Act 2014 into law. Private sector employees, under certain conditions, will be required to participate in a new Nigerian compulsory contributory pension scheme, under the terms of the new law. Now Nigerian employees, whether in the private or public sector, will have the framework and means to save in preparation for their retirement and receive adequate retirement benefits as and when due. But, international assignees to/from Nigeria and their employers who are subject to these rules will see their pension-related costs go up and their administrative burdens increase.

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Nigeria – New Pension Reform Law Brings Change for Employers and Employees
 

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