PENSION FUND MANAGEMENT AND LIFE SUSTENANCE IN NIGERIA

Abstract

This research uses the GNI per capita and labor force participation rate as a measure of life sustenance to empirically explore the effect of pension fund management on life sustenance in Nigeria. The research uses data from the Nigerian macroeconomy and the pension business to span a fifteen-year period (2007–2021). The technique used is autoregressive distributed lag regression. According to the empirical findings, pension fund investments in Nigeria have a considerable yet detrimental impact on life sustenance. Life sustenance is not much impacted by pension and bonus expenses. In Nigeria, participation in pension plans has a good and considerable impact on life sustenance. In Nigeria, pension contributions have a favorable and important impact on life sustenance. The quality of life in Nigeria is also negatively impacted by life expectancy. The research comes to the conclusion that pension fund management plays a key role in Nigeria's citizenry's sustenance based on the findings of the empirical investigation. Therefore, it is advised that pension funds be handled properly, companies follow pension rules, and the government commits more resources to supporting pension gratuities in the economy.