An Assessment of Pension Schemes and Their Effect on Elderly Well-being in Maiduguri Metropolitan Local Government Area, Borno State
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Chapter One: Introduction
1.1 Background of the Study
Pension schemes are financial systems designed to provide income to individuals after retirement, and they play a critical role in ensuring the well-being of the elderly. In many parts of Nigeria, including Maiduguri Metropolitan Local Government Area (MMLGA) in Borno State, the significance of pension schemes has gained recognition, particularly as the population of elderly individuals increases. Pension schemes can reduce the financial burdens faced by retired individuals, enhancing their access to healthcare, social services, and overall quality of life. However, the extent to which these schemes contribute to the well-being of the elderly in Maiduguri remains an area of concern.
In Maiduguri, the impact of pension schemes on the lives of retirees, particularly in terms of economic security, healthcare access, and overall social welfare, requires further exploration. This study aims to assess the effects of existing pension schemes on the well-being of the elderly population in Maiduguri, highlighting the gaps and challenges they face in enjoying the benefits of these schemes.
1.2 Statement of the Problem
Despite the establishment of pension schemes across Nigeria, many elderly people in Maiduguri continue to face challenges related to inadequate income, poor healthcare access, and limited social support. The issue of delayed or irregular pension payments and the lack of a comprehensive social safety net for retirees exacerbate these challenges. Therefore, it is essential to evaluate the impact of pension schemes on the elderly well-being in Maiduguri, to understand how these programs affect their economic and social stability.
1.3 Objectives of the Study
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To assess the impact of pension schemes on the economic well-being of elderly individuals in Maiduguri Metropolitan LGA.
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To examine how pension schemes affect the access of the elderly to healthcare and other essential services.
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To identify the challenges faced by pensioners in Maiduguri in accessing their pension benefits and improving their quality of life.
1.4 Research Questions
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How have pension schemes influenced the economic well-being of elderly individuals in Maiduguri?
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To what extent have pension schemes improved the access of the elderly to healthcare and other essential services in Maiduguri?
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What challenges do elderly pensioners face in accessing their pension benefits in Maiduguri?
1.5 Research Hypotheses
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Pension schemes have a positive impact on the economic well-being of elderly individuals in Maiduguri.
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Pension schemes have improved the access of elderly individuals to healthcare and essential services in Maiduguri.
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Challenges such as delayed payments, bureaucratic barriers, and insufficient coverage limit the effectiveness of pension schemes in improving the well-being of elderly individuals in Maiduguri.
1.6 Significance of the Study
This study is significant because it will provide an in-depth understanding of how pension schemes affect the lives of elderly individuals in Maiduguri. The findings will contribute to the development of policies that can enhance the effectiveness of pension systems in Nigeria, particularly for elderly populations. It will also help policymakers and social workers understand the challenges faced by retirees and the ways in which pension schemes can be improved to better serve the elderly.
1.7 Scope and Limitations of the Study
The study will focus on elderly individuals who are beneficiaries of pension schemes in Maiduguri Metropolitan LGA. It will assess the economic, healthcare, and social impacts of these schemes. Limitations of the study may include the availability of up-to-date data on pension recipients, as well as the potential for recall bias among respondents when reporting on their experiences with pension schemes.
1.8 Operational Definition of Terms
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Pension Schemes: Financial programs that provide regular payments to individuals after they retire, usually based on their previous earnings and contributions to the scheme during their working years.
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Elderly Well-being: The overall quality of life and health of individuals who are of retirement age, often influenced by their economic security, physical health, and access to necessary services.
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Economic Well-being: The financial stability and capacity of individuals to meet their basic needs, including food, shelter, and healthcare, after they retire.
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Healthcare Access: The ability of elderly individuals to receive necessary medical services, treatments, and preventive care.
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