Actuarial Assessment of Liabilities, Nigeria Social Insurance Fund

The objective of project is to determine the liabilities of existing pensioners and of members of the scheme who will retire within 3 years from 1st July 2004 and the lump sum balance creditable to the individual Retirement Savings Account of the remaining members of the Scheme. This will enable the transition of the current pension scheme to the new scheme as provided for under the recent Pension Reform Act (2004). The purpose of the project is to assist the management of the NSITF in this process.

Project symbol

NIR/05/01/NIR

Admin unit

SOC/FAS

Start date

08/04/2005

End date

31/12/2007

Total allocation

71514

Total expenditure

Status

Closed

71514

Development Partners

Nigeria, Social Insurance Trust Fund

Country/Countries

Nigeria

Outcomes

Improve member State capacity to manage social security schemes and to implement policies focused on improving social security systems