International Journal of Academic Multidisciplinary Research (IJAMR)   Year: 2020 | Volume: 4 | Issue: 8 | Page No.: 186-196 Role of Contributory Pension Scheme on Workers' Savings Olaitan, Wasiu Abiodun, Oyetola, Daud Olawale, Ibraheem, Abdullahi Aderemi, Omoniyi, Oyelowo Oyetade, Amolegbe, Sikiru Adesola Abstract: The current research examined the role of contributory pension scheme on workers' savings. The objectives of this work includes to determine the impact of contributory pension scheme on workers saving, examine problems hinders effectiveness of contributory Pension scheme and asses effort of government at ensuring efficiency of the contribution pension. The research methods used in the work is survey statistics. The simple random sampling technique was used to select respondents from the ten (10) Local Government Areas (LGAs) in Osun West Senatorial District. They include: Ayedade, Aiyedire, Ede North, Ede South, Ejigbo, Egbedore, Irewole, Isokan, Iwo and Ola oluwa. From these ten LGAs, 250 public workers? were sampled, of which 25 were selected from each LGA. The primary data that involved the questionnaire was used in this study. The data was analyzed using simple frequency and percentages while the hypotheses formulated were tested and analyzed using the chi-square statistics. The result of hypotheses using chi-square show that contributory pension scheme have impact on workers saving, there is problems hinders effectiveness of Contributory pension scheme, also government is sensitive towards efficiency of contributory pension scheme. The findings of this research reveals that majority of the respondents prefer to save outside any pension scheme while others do not know how to calculate how much they need to save for retirement. The study therefore concludes that Government should create more awareness on contributory pension scheme to encourage and educate employees on the scheme as most workers are ignorant of its existence.