ACCOUNTING FOR PUBLIC PENSIONS AND RETIREMENT BENEFITS
- Project Research
- 1-5 Chapters
- Quantitative
- Simple Percentage
- Abstract : Available
- Table of Content: Available
- Reference Style: Available
- Recommended for : Student Researchers
- NGN 3000
ACCOUNTING FOR PUBLIC PENSIONS AND RETIREMENT BENEFITS: This research aims to (i) analyze the current practices in accounting for public pensions and retirement benefits, (ii) evaluate the challenges in managing these accounts, and (iii) propose improvements to enhance financial transparency and sustainability. A survey design is employed to collect data from governmental accountants and financial managers responsible for public pension funds. A sample size of 325 respondents, determined using Taro Yamane's formula, ensures representativeness. The case study focuses on Lagos, selected for its extensive public pension system. The reliability coefficient score of the survey instrument is 0.86. Findings indicate significant challenges in funding and managing pension liabilities, as well as gaps in regulatory compliance. Recommendations include the adoption of more robust actuarial methods and the establishment of independent oversight bodies to ensure transparency and sustainability.
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