ROLES OF PENSION AND RETIREE’S STANDARD OF LIVING

Gbenga Fayemiwo 73 PAGES (16265 WORDS) Project
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ABSTRACT

This research work examined roles of pension and retiree’s standard of living. The specific objectives were to determine the extent to which the new pension scheme has improved the welfare of the retired employee in Nigeria, to determine the relationship between pension and standard of living of retired employee, to examine the extent to which the new pension scheme can guarantee a minimum living standard for the retired civil servants in Nigeria and lastly to evaluate the extent to which the new Pension Act 2004 addressed the problem of fund diversion, corruption and inadequate budgetary allocation. In order to achieve these objectives, the study adopted quantitative research design while the population was civil servant retirees of federal institutions. The sample size was 100 selected civil servant retirees of federal institutions which will comprise of both male and female obtained using simple non probability sampling technique. Chi-square statistical tool was used as the statistical tool for testing the postulated hypotheses. Findings showed that that new pension scheme would be able to increase the standard of living of retired civil servants in Nigeria. Finally, that the new Pension Act 2004 will significantly address the problem of fund diversion, corruption and inadequate budgetary allocation. It was therefore recommended PENCOM must ensure that the administrators and custodians abide by the rules of the pension game in order to ensure their efficient and effective performance. Also The public must be regularly enlightened and adequately keep abreast of development in the pension industry by the Commission and the administrators.


TABLE OF CONTENTS
Pages
Title Page i
Certification ii
Dedication iii
Acknowledgments iv
Abstract v
Table of Contents vi
List of Tables viii
CHAPTER ONE
1.1 Background of the Study 1
1.2 Statement of the Problem 3
1.3 Aim and Objectives of the Study 4
1.4 Relevant Research Questions 4
1.5 Relevant Research Hypotheses 5
1.6 Significance of the Study 5
1.7 Scope of the Study 6
1.8 Definition of Terms 6
References 8
CHAPTER TWO: LITERATURE REVIEW
2.1 Preamble 9
2.2 Theoretical Framework 11
2.3 The Concept of Retirement 15
3
2.4 Divisions of the Pension Scheme 21
2.5 The Contributory Pension
30
2.6 Investment of Pension Fund 36
References 38
CHAPTER THREE: RESEARCH METHODOLOGY
3.1 Preamble 44
3.2 Research Design 44
3.3 Population of Study 44
3.4 Sampling Procedure and Sample size 44
3.6 Data Collection Instrument and Validation 45
3.7 Method of Data Analysis 45
3.8 Limitation of Methodology 45
References 47
CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS
4.1 Preamble 48
4.2 Presentation and Analysis of Data 53
4.3 Test of Hypotheses 59
References 63
CHAPTER FIVE: SUMMARY CONCLUSION AND RECOMMENDATIONS
5.1 Summary 63
5.2 Conclusion 65
5.3 Recommendations 66
Bibliography 68
4

Appendix 75
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APA

Gbenga, F (2019). ROLES OF PENSION AND RETIREE’S STANDARD OF LIVING. Afribary.com: Retrieved November 28, 2020, from https://afribary.com/works/roles-of-pension-and-retiree-s-standard-of-living

MLA 8th

Fayemiwo, Gbenga. "ROLES OF PENSION AND RETIREE’S STANDARD OF LIVING" Afribary.com. Afribary.com, 04 Oct. 2019, https://afribary.com/works/roles-of-pension-and-retiree-s-standard-of-living . Accessed 28 Nov. 2020.

MLA7

Fayemiwo, Gbenga. "ROLES OF PENSION AND RETIREE’S STANDARD OF LIVING". Afribary.com, Afribary.com, 04 Oct. 2019. Web. 28 Nov. 2020. < https://afribary.com/works/roles-of-pension-and-retiree-s-standard-of-living >.

Chicago

Fayemiwo, Gbenga. "ROLES OF PENSION AND RETIREE’S STANDARD OF LIVING" Afribary.com (2019). Accessed November 28, 2020. https://afribary.com/works/roles-of-pension-and-retiree-s-standard-of-living