RETIREMENT POLICY AND PROBLEM OF IMPLEMENTATION IN NIGERIAN PUBLIC SECTOR (A CASE STUDY OF ENUGU STATE CIVIL SERVICE)

ABSTRACT

The study Retirement policy and the problem of implementation in Nigerian public sector was aimed at determining the effects of old pension schemes (pay-as-you-go-defined benefits) and they are corruption and inflation, weak institutional capacity and non-compliance of stakeholders which lead to non-implementation of the previous pension scheme, thereby growing rise to the contributory pension scheme (PRA 2004), as a way of strengthening the powers of the operators of the scheme and promoting social investments in the national economy. The survey method was adopted in administering the questionnaires to the staff and retires of Enugu state civil service and the Bourley’s formulae was used to determine the sample size. the retirees complained that they have experience difficulty in claiming their gratuity and pension which have resulted for them not to enjoy their retirement period, due to the challenges facing the defined benefits scheme. The effective implementation of pension reform act (PRA) 2004 would avert the hardship of retirees of Enugu stage civil service after this retirement, thereby forcing them into productive venture  after retirement.To quicken the dispensation of the pensioners benefits in term of gratuities and pension, federal government establishes the national pension commission which later licensed on fund administrators (PFAS) and pension fund custodian (PFCS) for effective operations of the scheme. Finally, relevant legal framework should be put in place by the federal government to ensure political economy and necessary support for the scheme by subsequent government, and all hands should be on deck to ensure the success and sustainability of the pension reform act (PRA) 2004.

 

TABLE OF CONTENTS

Title page

Approval Page       

Approval Page

Dedication     

Acknowledgements

Abstract 

Table of Contents         

Chapter One: Introduction

1.1      Background of the study

1.2      Statement of the Problem

1.3      Objectives of the Study

1.4      Hypothesis     

1.5      Significance of the Study

1.6      Delimitations/scope of the study   

1.7      Limitations of the study

1.8      Definition of Terms/Acronyms

CHAPTER TWO: LITERATURE REVIEW

2.1  Origin and development of retirement policy

2.2  Retirement and Pension policy in the public sector

2.3  Overview of pensions scheme after 2004 Act

2.4  Management Structure and Implementations

2.5  Factors Responsible for non-Implementation of the Retirement Policy

2.6  Legal Framework for the Implementation of the new Retirement Policy (PRA 2004)

2.7  Funding and Safeguard of the Scheme

 

CHAPTER THREE

RESEARCH DESIGN AND METHODOLOGY

3.1  Research Design

3.2  Population of the study

3.3  Sample Selection for the study

3.4  Sampling Technique

3.5   Method of Data Collation       

3.6  Validation of Research Instruments

3.7  Reliability of the Instrument  

3.8  Method of Data Presentation and Analysis

CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS

4.1  Data Presentation

4.2  Data Analysis and Interpretation   

4.3  Test of Hypothesis               

CHAPTER FIVES: SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATIONS

5.1  Summary of Findings           

5.2  Conclusions                 

5.3  Recommendations 

Bibliography