This paper examined the concept of contributory pension scheme as it relates to lecturers’ job commitment in the university system. It adopted the Social Exchange Theory by George Casper Homans in 1958 and a review of other scholars’ findings on pension scheme implementation. It established a link between the CPS implementation procedures and the indices of university lecturers’ job commitment. The paper recommended among others that it is important for employees to see clearly the reward process at work. Concrete acts must accompany statements of intent since lecturers have expectations for good pension package after many years of service to the university.