Pensions Programmed Withdrawal and Insurance Life Annuity In Nigeria. A Comparative Analysis as Options to Nigerian Retirees

This study is a comparative study that analysed the pension programmed withdrawal and insurance  life annuity as regards to retiree options at the point of retirement. This is sequel to the fact that  Nigeria retires have undergone many challenges  of pensions payment. The study used content analysis research design and the following variables: guaranteed period; return on the investment;  security of the fund and benefit payment. The  analysis revealed that retirees are interested in programmed withdrawal more than annuity because of better edge an d more trust associated with programmed withdrawal, including risk of losing their fund upon death at annuity option. It was  recommended that the commission needs a provisional  guideline that will enable pensions administrators to recalculate retirees monthly payment periodically to reflect the significant of the  investment return. However, creating an enabling environment to expand safe investment of retiree  fund across the border.