Original research

PENSION FUND GOVERNANCE AND RETIREE FINANCIAL SECURITY: INSTITUTIONAL EVIDENCE FROM A DEVELOPING ECONOMY

Pages 89-102

10.61552/geh.2026.02.009

Iliyasu Shaibu, Sule Ja’afaru Garba, Nurudeen Yakubu Zakariya

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Abstract This study focused on contributory pension, financial security and long-term well-being in retirement. The study determined the effect of employee and employer contributions on long-term financial planning of retirees; and examined the effect of effective pension fund administration on financial security of retirees. The study employed a survey research design. The sample size of the study is 383. A multi-stage sampling technique was adopted. The study employed descriptive statistics, and least squares regression was applied to test the formulated hypotheses. Findings revealed that employee and employer contribution has a significant effect on long-term financial planning of retirees, and that effective pension fund administration has a significant effect on the financial security of retirees. The study concluded that the contributory pension scheme has a profound effect on the financial well-being of public sector retirees. The study recommended that a compliance framework should be developed by the employer, while the employees must ensure that their contributions remain active.

Keywords: Contributory Pension Scheme, Financial Well-Being, Long-Term Financial Planning, Pension Fund Administration, Financial Security.

Recieved: 11.11.2025. Revised: 27.01.2026. Accepted: 06.02.2026.