Abstract: The contributions of pension board schemes to the Nigerian Capital Market have contributed a lot to the economic growth and development such as alleviation of poverty , buying of securities and social belongings to the retire civil servant among others. Pension is all about contract for fixed sum of money deducted from civil servant salary for future usage after retirement. A pension plan is a legally binding contract having an explicit retirement objectives. The Pension Reform Act 2014 was made to meet the challenges and provide effective and effective services. Secondary data was used to provide the theoretical framework for the study. At the end, conclusion and recommendation are provided.