The overall performance of social security programs, including employment pensions depends on effective enforcement of relevant regulations. Successful implementation of the Pension Act in Malawi hinges on effectiveness of the strategies employed by the state to enforce compliance through the Reserve Bank of Malawi (RBM) as a regulator, in corroboration with the Ministry of Labour. Hence, this study sought to analyse the effectiveness of the strategies for enforcing the Pension Act and utilised an interview guide to conduct in-depth interviews to collect primary data from 20 respondents. Relying on game theory and rational choice theory, the study shows the effectiveness and ineffectiveness of specific compliance strategies and stakeholders' decision-making motivations. With an interpretive research philosophy guiding the research, it was found that on-site inspections, phoning, meetings, written warnings, pension awareness campaigns, financial penalties and litigation are key strategies for enforcing compliance with the pension law. Furthermore, it was exposed that economic hardships, budgetary constraints, lack of pension knowledge, role conflict and ambiguity and legal gaps pose challenges in enforcing compliance with the Pension Act. Hence, the study concludes that the strategies for enforcing compliance with the Pension Act in Malawi arelargely ineffective. There have been rising levels of pension contribution arrears, continued tolerance for early withdrawals despite such beneficiaries not qualifying and lack of coercion, including litigation against non-compliant employers. This status quo, if not addressed through a review of the strategies, affects pension’s adequacy and sustainability.