Use our Nigeria CPS calculator to determine your monthly employee and employer pension contributions under the Contributory Pension Scheme (CPS). Get instant results with real-time calculations!
Nigeria CPS Contribution Calculator
What Is the CPS Calculator Nigeria?
The Contributory Pension Scheme (CPS) Calculator helps employees and employers determine their mandatory pension contributions in Nigeria based on their gross salary.
As per the Pension Reform Act 2014, pension contributions in Nigeria follow this structure:
- Employee contributes 8% of their gross monthly salary.
- Employer contributes 10% of the employee’s gross salary.
- Total CPS Contribution = 18% of the employee’s gross salary.
The CPS pension scheme applies to all employees in the public and private sectors, ensuring that Nigerians have a secured retirement plan.
How to Calculate CPS Contributions in Nigeria
To manually calculate your CPS pension deductions, follow these steps:
- Determine your gross salary – This is your monthly earnings before any deductions.
- Calculate the employee’s contribution – Multiply gross salary × 8%.
- Calculate the employer’s contribution – Multiply gross salary × 10%.
- Add both contributions – This gives you the total CPS contribution.
Example CPS Calculation
For an employee earning NGN 300,000 per month:
| Category | Amount (NGN) |
| Gross Salary | 300,000 |
| Employee Contribution (8%) | 24,000 |
| Employer Contribution (10%) | 30,000 |
| Total CPS Contribution (18%) | 54,000 |
💡 Instead of manually calculating, use our free CPS calculator for Nigeria!
Use Our Free CPS Calculator Nigeria
Instead of doing manual calculations, use our free CPS Nigeria calculator for quick and accurate results.
👉 Try the CPS Calculator Now
How to Use the CPS Calculator in Nigeria
- Enter your gross salary in the input field.
- See instant results – No need to press a button!
- View the breakdown of employee, employer, and total pension contributions.
✅ Uses official 2024 CPS pension rates
✅ Provides both employer & employee contributions
✅ Instant calculations, no waiting!
Why CPS Contributions Matter in Nigeria
a) Retirement Security
The CPS ensures that employees save for retirement, providing financial security after their working years.
b) Employer Compliance
Under the Pension Reform Act 2014, employers must remit pension contributions or face penalties from the National Pension Commission (PenCom).
c) Financial Stability for Employees
The CPS allows Nigerian workers to build their Retirement Savings Account (RSA), ensuring they receive a steady pension after retirement.
Frequently Asked Questions (FAQs)
i) How much is the CPS pension contribution per month in Nigeria?
CPS pension contributions are 8% of the employee’s gross salary and 10% of the employer’s contribution, making a total of 18% of the gross salary.
ii) What is the minimum salary for CPS contributions in Nigeria?
The Pension Reform Act 2014 does not set a minimum salary for CPS contributions.
However, all employees in the formal sector must contribute.
iii) Can employers avoid paying CPS contributions?
No. The law requires employers to remit pension contributions to their employees’ Retirement Savings Accounts (RSA) every month.
iv) How do I check my CPS contributions in Nigeria?
You can check your CPS pension contributions via:
- Your Pension Fund Administrator (PFA) online portal.
- Requesting a statement from your PFA.
- PenCom’s online compliance system.
Final Thoughts: Use the CPS Nigeria Calculator for Instant Calculations
The CPS calculator Nigeria simplifies pension contribution calculations, ensuring employees and employers comply with the latest CPS rates in 2024.
✅ Calculate your CPS contributions now
✅ Ensure accurate employer & employee pension deductions
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