Professional Assessment of Pension Fund Administration and Retirement Benefits Management in the Contributory Pension Scheme: Evidence from Bauchi State, North East Nigeria

This study undertakes a professional assessment of pension fund administration and retirement benefit management under Nigeria's Contributory Pension Scheme, with specific reference to the public sector in Bauchi State, North East Nigeria. The shift from the Defined Benefit to the Contributory Pension Scheme was intended to eliminate the problem of unpaid gratuities and pension arrears that plagued the old scheme, yet implementation gaps persist in many states including Bauchi. Drawing on pension management theory and recent social security literature from 2020 to 2024, the study employs a practitioner research design. Data are gathered from the Bauchi State Contributory Pension Scheme Secretariat officials, Pension Fund Administrators, the National Pension Commission, and public sector retirees through structured questionnaires and professional interviews. Descriptive statistics and regulatory compliance assessment are applied. The study anticipates finding that delayed remittance of employee and employer contributions by the Bauchi State Government, inadequate financial literacy among contributing public servants, and weak enforcement capacity of the National Pension Commission at the state level are the primary management challenges. The investment performance of Pension Fund Administrators managing Bauchi State portfolios is also critically reviewed. Recommendations address state fiscal discipline in pension remittances, retiree financial counselling programmes, National Pension Commission regulatory strengthening, and improving beneficiary access to retirement bond redemption. Keywords: contributory pension scheme, pension fund administration, retirement benefits, Bauchi State, social security