MILITARY PENSIONS BOARD
BRIEF HISTORY OF MILITARY PENSIONS BOARD
MISSION STATEMENT
“To provide timely and effective administrative and support services, to enable the retied Armed Forces personnel of the Federal Republic of Nigeria. To build and maintain a modern, compact, strong and professional organization to help and advice easy ways to process timely and pay pension for retired armed forces personnel who gave their lives for serving the
country”.
VISION
“To be a world-class organization that ensures prompt payment of retirement benefits and promotes a sustainable pension system that positively impacts on retired Military Personnel life and culture”
AIMS AND OBJECTIVES
The aims and objectives of the Military Pension Board of Nigeria which are derived from the National Defense Policy are as follows: •Making provision for the welfare of the retired Armed Forces in terms of training and guiding about their rights and benefits aimed at boosting their morale and helping them to live a peaceful retired life. •Enhancing the capability and sophistication of the retied people in order to reduce the panic and frustration after retirement.
OBJECTIVES
A. Undertaking and organizing research in such fields as:
1, Pension Microeconomics, dealing with the economics of individual and corporate pension planning and retirement decisions.
2, Pension Fund Management and Performance, dealing with the asset-liability management, investment management, and investment performance of both occupational and personal pension schemes.
3, Pension Contingency Analysis and Valuation, dealing with actuarial and insurance issues related to pension annuities and retirement.
4, Pension Law and Regulation, dealing with legal aspects of pension schemes and pension fund management.
5, Pension Accounting, Taxation and Administration, dealing with operational aspects of running pension schemes.
6 , Marketing of private sector pension schemes, dealing with the practice and ethics of marketing pension products.
7, Macroeconomics of Pensions, dealing with the consequences of the size and maturity of pension funds on other sectors of the economy (e.g. corporate, public and international sectors).
8, Public Policy, dealing with domestic and EU social policy towards pension provision and other employee benefits in light of factors such as the Social Chapter of the Maastrict Treaty and the demographic time bomb in Europe and other countries.
B. Disseminating the results of the research by means of:
1, Discussion Papers
2, Publications in Academic and Practitioner Journals
3, The Internet
4, Seminars, workshops and conferences.
C. Providing expert advice on the results of this research to the pensions industry and to government.
1, Research disseminated by the Pensions Institute may include views on policy but the Pensions Institute itself takes no institutional policy positions.
2, The Pensions Institute was set up initially in 1996 by David Blake and Mike Orszag at Birkbeck College. It moved to Cass Business School in January 2004.
