1. ISSA 5th International Research Conference on Social Security Pension reform in Nigeria: how not to “learn from others” Bernard H Casey Cass Business School and Jörg Michael Dostal Brunel Business School

2. Pension reform in Nigeria: how not to “learn from others” Outline Policy learning The new Nigerian system Assessing the system Governance issues A possible alternative for Nigeria Conclusions and recommendations

3. Pension reform in Nigeria: how not to “learn from others” Policy learning Learning and pension reform –Chile’s 1981 reform –Nigeria’s Vision 2010 programme Comparing Chile and Nigeria Role of international organisations –IMF, World Bank and ILO

4. Comparison of Chile prior to 1981 reform and Nigeria prior to 2004 reform

5. Pension reform in Nigeria: how not to “learn from others” The new Nigerian system Reasons for reform –Characteristics of old system (NSITF) –Problems of arrears and cost control How new system works –Coverage –Contribution rates –Replacement rates –PFAs and NSITF as legacy –PenCom – the regulator

7. Pension reform in Nigeria: how not to “learn from others” Assessing the system Costs –Charges –Transition costs Contribution to economic development –Capital markets –Federal government bonds

8. Pension reform in Nigeria: how not to “learn from others” Governance issues Corruption –Lack of rule of law Low regulatory quality –Presidential prerogative –PenCom, Transcorp and the Nigerian Stock Exchange

9. Pension reform in Nigeria: how not to “learn from others” A possible alternative for Nigeria Social pensions –ILO and World Bank perspectives –Poverty alleviation Proposed reforms in Chile –Failure of the 1981 system Suitability for Nigeria –Administrative capacity –Promoting legitimacy

10. Pension reform in Nigeria: how not to “learn from others” Conclusions and recommendations Recognise mistakes Don’t copy failure Learn, don’t mimic