Effects of risk management on investment strategy and contributory pension scheme sustainability nexus in Nigeria
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Date
2020
Journal Title
Journal ISSN
Volume Title
Publisher
Department of Accounting & Finance and Business Administration, Fountain University
Abstract
In line with the increasing desire for sustainability across numerous areas of study, occupational pension
sustainability has emerged among the core objectives of pension reforms. Thus, this study assesses the impact of risk management on the relationship between investment strategy and sustainability of contributory pension scheme (CPS) in Nigeria. Using data obtained from survey of 197 managers and assistant managers of pension fund administrators that manage CPS fund in Nigeria, the study employs partial least square structural equation modelling to examine the effects of investment strategy and risk management on sustainability of CPS.
The study further examines the moderating effect of risk management on the relationship investment strategy
and contributory pension scheme sustainability. Findings reveal that investment strategy and risk management
have significant positive effects on the sustainability of CPS in Nigeria. Further analyses show that risk
management has negative moderating effect on the relationship between investment strategy and the
sustainability of CPS.
Description
Keywords
Occupational pension sustainability, Contributory pension scheme, Investment strategy, Risk management, Pension fund administrators