Abstract:

The development of any economy is premised on the gross domestic products generated by the residents of that country at a given period of time. Every industry within the economy requires huge capital outlay and funding to remain in business and pension fund is a major source needed to propel the economy. One of the reasons for investing pension fund in pension assets is to keep the fund active till when the contributors will be retiring. The main thrust of Pension Reform Act 2004 include making sure that their employees receive their retirement benefits regularly; assist low income earners save for handling their livelihood at old age; and to provide a set of guidelines that will ensure prompt payment of retirement benefits to workers (Akpan  & Ukpong, 2014).