ABSTRACT
The title of this research work is management of pension scheme in
Enugu public service (a case study of the department of pensioner/establishment
Enugu north) the purpose of this study was to investigate how government
regulate and manage pension scheme in Enugu public service and to find out why
the pensioners are not receiving their pension at as when due. In order to
achieve the purpose of this study, four research questions were asked. The work
consist of 400 population from the sample size of 259 question was distributed
out of 400pensioners found in Enugu public service, 65% of the population in
each sections of the year used for the study were drawn using simple random
sampling. The questionnaires were major instrument for data collection. Data
collected indices detailed on information collected from questionnaire in
respect of management of pension scheme in Enugu public service with a
particular reference to Enugu north. With intention to find out if there is
more efficient and effective ways of achieving the objectives of pension
scheme. From the revelation shown in chapter four on table 1, it shows that pensioners
are not collecting their pension as at when due. And that pensioner encountered
a lot of problem in collecting their pension. It was found out that inadequate
fund to meet its project was chiefly the problem of pension scheme in Enugu
public service. Finally, the researcher recommended that government should play
a better role to see that pensioners salary are no longer with held by the
officer who are responsible for the payment ,and that absolute plans should be
make to see that pensioners are no longer been owned for months.
TABLE
OF CONTENT
Title page
------------------------------------------------------------------------------------i
Approval
page------------------------------------------------------------------------------ii
Dedication
---------------------------------------------------------------------------------iii
Acknowledgment-------------------------------------------------------------------------iv
Table of
content----------------------------------------------------------------------------v
Abstract------------------------------------------------------------------------------------viii
CHAPTER ONE
INTRODUCTION
1.1 Background of the
study------------------------------------------------------------1
1.2 Statement of the
problem------------------------------------------------------------3
1.3 Purpose of the
study------------------------------------------------------------------4
1.4 Research
questions--------------------------------------------------------------------4
1.5 Significance of the
study-------------------------------------------------------------5
1.6 Limitation of the
study---------------------------------------------------------------6
1.7 Definitions of
important terms-----------------------------------------------------6
CHAPTER TWO
LITERATURE REVIEW
2.0 Sources of
literature-------------------------------------------------------------------8
2.1 The principles of
pension scheme management--------------------------------9
2.2 The new public
service pension scheme----------------------------------------11
2.3 need for management
of pension scheme--------------------------------------13
2.4 The problems and
prospects in management---------------------------------14
2.5 Who are supposed to
receive this pension scheme--------------------------15
CHAPTER THREE
METHODOLOGY
3.1 Design of the study------------------------------------------------------------------20
3.2 Area of the study---------------------------------------------------------------------20
3.3 population of the
study-------------------------------------------------------------20
3.4 Sample of the study------------------------------------------------------------------21
3.5 Instruments for
data collection----------------------------------------------------22
3.6 Validation of the
instrument-------------------------------------------------------23
3.7 Reliability of the
instrument-------------------------------------------------------23
3.8 Distribution and
analysis-----------------------------------------------------------23
3.9 Method of data
analysis------------------------------------------------------------23
CHAPTER FOUR
Data analysis and
interpretation------------------------------------------------------25
Data presentation and
analysis--------------------------------------------------------27
CHAPTER FIVE
DISCUSSIONS:
5.1 Summary of Findings---------------------------------------------------------------35
5.2 Conclusion-----------------------------------------------------------------------------36
5.3 Implication of the
Research Findings--------------------------------------------37
5.4 Recommendations--------------------------------------------------------------------37
5.5 Suggestion for
Further Research--------------------------------------------------38
5.6 Limitation of the
Study-------------------------------------------------------------39
References-----------------------------------------------------------------------------------40
Appendix 1---------------------------------------------------------------------------------42
Questionnaire
-----------------------------------------------------------------------------43
CHAPTER ONE
INTRODUCTION
1.1
Background of the study
The
work that one does gives status to the person. It gives a meaning to life and
feelings contribution to general welfare. Work also permits a person to be
active and to be constructive social interaction with others. In spite of the
fact that works brings fulfillment. One must retire from active service as one
cannot deny the fact that as workers grow older, they make into a social group
that is separate from the younger workers. Increasing physical and metal
limitation associated with advancing in age; make it difficult for such people to
work safely and competently to maintain previous level of performance. At the
stage of retirement, the workers output reaches diminishing return. It becomes
necessary for the worker to stop working, if his employer wants to minimize
loss although not everyone with generous pension. Retirement as defined by
Donnelly [1992-326] as the changes in Job situation where by the individual
gives up his job when diminishing return set in.
Eze [2001-13] explain retirement where the
employer is dissatisfied by the job performance of the employee. The German
chancellor, OHO UOU BISMACCLE in 1880’’ started the concept of retirement age
of sixty-five years. Insurance company began to use that retirement age
planning retirement and annuity programmed through the retirement age way in
countries and organization. Nigeria operates one of the generous pensions in
the world. After ten years of services, could then retire and enjoy the rest of
his active life. Implications of Nigeria pension scheme is that, the public
service is seen as being move lucrative. Pension is defined as a kind of
annuity for the retired public servants for life [in some cases also his
dependents after his death]. Pension is paid in fixed monthly amount, often
times, a certain percentage of the salary is paid. From the government point of
view the pension is given in recognition of long monotonous services. The
pension system unless specially adopted to meet the hardship to the family of a
white collar or blue collar workers, who die prematurely in service or on the
verge of retirement or before enjoying the pensioners benefit for any appreciable
period. Pension can be classified as contributory and non-contributory. When
both the government and the employee contribute (not necessary equally) towards
its payment. It is non-contributory, if the whole amount for its payment is
funded by the government or the employer. There is no much of difference
between the two financially speaking, if the pension scheme is
non-contributory, the salaries will be proportionately lower and vice versa.
Employee’s contribution creates a sort of night for him to pension and he may
claim a voice in the management scheme.
1.2 Statement of the problem.
The major reason for establishing the
pension scheme is to provide the employee with a means of security on
retirement, a standard of living reasonably consistent with that enjoyed when
at work. In developed countries, the workers look forward to retirement but in
Nigeria, the reverse is the case. The reason is mainly that of mismanagement
and corruption.
The
management of pension scheme has made things so hard for the workers that, a
retiree has to travel long distance to get his pension paid. It has been
observed that those who are retired, while pursing papers in Abuja or Lagos end
up running out of cash and sleeping under bridges, railways stations, post
offices, churches or mosques, some even die in the process.
The head of service of the federation while
addressing pension scheme in Nigeria opined that inefficiency mainly due to
inadequate funding, ignorance of employer’s mismanagement of funds and gross
indiscipline by pension managers are major problems for the effect of these on
the workers could be very drastic that is why, this research is intended to
suggest solutions to the problems of mismanagement of pension schemes.
1.3 Purpose of the study
The major aim of this research is to
investigate how government regulates and manage pension scheme in Enugu public
service, specifically, the study is to :-
1.
Find out why the pensioners are not
receiving their pension as not when due?
2.
To find out the problems the pensioners
encounter in collecting their pensions.
3.
To find out the role of government in
the pension scheme of the state.
4.
To find out the solutions to the various
problems.
1.4 Significance of the study.
This study will highlight the need for
re-organization of the pension scheme with a view to adopting more dedicated and
national Approach, in order to avoid the incessant verification and
identification parades which has lead to the sudden death of pensioners while
wanting to collect their pension.
The study will also help pension
managers as it will address the issue of abundment of pensioners and military
veterans who served the country during their old age when they richly needed
love. Support and above all respect, it also helps to broaden student’s
knowledge on this particular research problem. It enables one to have a deeper
insight into the problem inter investigations.
The major result of this study will help
the pension managers to know the area of problems of pensioners and advance
proper way of handle them.
It will also expose government on the suffering
of these old people and make laws that will alleviate the suffering.
The research question
This research question enables us to ask
some questions based on our findings.
The questions are:-
1.
Why are the pensioners not receiving
their pension as at when due?
2.
What are the problems the pensioners
encounter in collecting their pensions?
3.
What is the role of government in the
pension scheme of the state?
4.
What are the solutions to the various problems?
1.6 The scope of the study:
The object of this research work is to find out the effect of management
of pension schemes in Enugu public service; its scope is limited to the
department of pension / establishment Enugu North. The scope of the study is to
examine the limited time available for the completion of the project. However,
the study also limit financial constraints, not all the needed information, was
properly provided as a result of ignorance with some of the integument.
1.7 Definition of important terms
DECREES:
- There are law-made by a despot it is the way of making laws in military
government. The law2ws made by the highest ruling body truing a military regime
are as decrees.
Diminishing returns:
- The laws, of diminishing return state that as more of a variable factor of
production is added to a fixed supply of land, a point will reach when average,
output will diminish. This necessitable the retirement of old sapped workers to
make room for the younger generation.
Lead of services:
- The means a worker divided by the working hour which is a system of
measurement used to calculate the output.
Management:
- Management is the process of combining of allocating and organizing,
directing and controlling for the purpose of producing output which could be in
from of goods and services so to attain organizational goals (Akpala:1990:3).
Organization:
- An .organization is the working together of two arrives at a goal (stone:
1992:4)
Pension
Act: - The pension act is the enabling laws of the federal republic of Nigeria
that brought the pension scheme into existence the enabling act is decree 102
of 1979 .
Public
Service: - Scheme 20 of decree 102 of 1979 listed all the organization decrees
as public service the public service is government establishment that include
statuary co-operation and the civil services.
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