The complete Guideline on Cross Border Arrangement is available on the website of the National Pension Commission
Following the increasing interest by Nigerians in the
Diaspora to participate in the Nigerian Contributory Pension Scheme, it became
imperative for the National Pension Commission to provide rules guiding participation
and defining limitations through the issuance of a guideline on Cross Border Arrangement.
Cross-border employment often leads to loss of pension rights as a result of waiting or vested periods imposed by some pension schemes. Quite a number of pension schemes do not allow for transfer of pension rights to countries they do not have cross-border arrangement with.
One key objective of the guidelines on cross-border arrangement (CBA) is to seek to encourage the participation of Nigerians abroad in the Contributory Pension Scheme and assist them to save in Nigeria towards their old age and subsequent return.
The CBA specifies the conditions and guiding principles
under which Nigerian citizens working in other countries could participate
in the Nigerian Contributory Pension Scheme. The CBA, therefore, makes
provision for Nigerians in Diaspora, who may wish to make voluntary contributions.
Besides, it provides a platform to accommodate foreigners working in the country in the new scheme, thus guaranteeing a better retirement life for them. Any foreign employee of a company registered in Nigeria shall, at his/her discretion, join the scheme, without considering whether or not he/she has a pension arrangement in his/her home country. The employee shall inform his employer of his interest to join the scheme.