Perceptions And Sustainability Of The Contributory Pension Scheme In Nigerian Tertiary Institutions: Evidence From Federal College Of Education (Technical), Gombe State

Abstract

This study examined workers’ perceptions regarding the awareness, security, and sustainability of the Contributory Pension Scheme (CPS) in the Federal College of Education (Technical), Gombe State, Nigeria. The study was motivated by persistent concerns surrounding pension administration, retirement security, transparency, and workers’ confidence in pension institutions within Nigeria’s public sector. The study adopted Social Exchange Theory and employed a cross-sectional descriptive survey research design. The population comprised 830 academic and non-academic staff enrolled under the CPS, from which a sample size of 260 respondents was selected using stratified random sampling based on Krejcie and Morgan’s sample determination table. Data were collected through a structured questionnaire titled Workers’ Perception of Contributory Pension Scheme Questionnaire (WPCPSQ). Findings revealed low awareness among workers regarding pension guidelines, employer contribution structures, investment procedures, and complaint channels. The study also found mixed perceptions regarding pension security, as respondents acknowledged institutional safeguards but expressed concerns about transparency and investment management by Pension Fund Administrators (PFAs). However, respondents generally perceived the CPS as sustainable due to regulatory oversight, structured contributions, and reforms introduced under the scheme. The study concludes that although the CPS has improved pension administration in Nigeria, challenges relating to awareness, transparency, and institutional trust continue to affect workers’ confidence in the scheme.