Mission Statement

“To ensure prompt payment of retirement and death benefits through transparent pensions administration”.


“To sustain prompt payment of all entitlements of military retirees or their NOKs in a transparent and accountable manner and to uphold principles of fairness and service to humanity in the discharge of the Board’s mandate.”

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 retired people in order to reduce the panic and frustration after retirement.

Specific Objectives Include:

1. Undertaking and organizing research in such fields as:

  • Pension Microeconomics, dealing with the economics of individual and corporate pension planning and retirement decisions.
  • Pension Fund Management and Performance, dealing with the asset-liability management, investment management, and investment performance of both occupational and personal pension schemes.
  • Pension Contingency Analysis and Valuation, dealing with actuarial and insurance issues related to pension annuities and retirement.
  • Pension Law and Regulation, dealing with legal aspects of pension schemes and pension fund management.
  • Pension Accounting, Taxation and Administration, dealing with operational aspects of running pension schemes.
  • Marketing of private sector pension schemes, dealing with the practice and ethics of marketing pension products.
  • 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).
  • 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.

2. Disseminating the results of the research by means of:

  • Discussion Papers
  • Publications in Academic and Practitioner Journals
  • The Internet
  • Seminars, workshops and conferences.

3. Providing expert advice on the results of this research to the pensions industry and to government. Research disseminated by the Pensions Institute may include views on policy but the Pensions Institute itself takes no institutional policy positions.