CHALLENGES FACED BY RETIREES IN ACCESSING PENSION FUNDS
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style: APA
- Recommended for : Student Researchers
- NGN 3000
Abstract
This study assessed challenges faced by retirees in accessing pension fund in Nigeria: It was conducted in Abeokuta South LGA. More specifically, the study examined procedures used in processing Pension Benefits in PSPF and challenges faced by retirees when accessing pension benefits from social insurance funds. It further, assessed the impact of challenges of the social security fund to the retirees and other stakeholders. This is the case study design which used mixed method, namely, the qualitative and quantitative researches. Interview, questionnaires, non-participant observation and documentary review were employed as the instruments for the data gathering. The findings revealed there are procedures that have to be followed. Before retirement one gives notification to employer six months before receiving retirement benefits. As regard, retirement benefits, a lump sum is given once after retirement and second part of the pension is that which the employees are receiving after every month. The findings also revealed most of the complaints were the inadequacy of benefits, delays in payments, lack of update information about the schemes and the amount of individual contributions made, estimated benefits statements and incomplete contribution records. Furthermore, findings disclosed that for instance many teachers’ retirees are virtually forced to live very precarious lives and they cannot meet their basic needs due to the delays in pensions and falling in household incomes. Based on the findings, it is recommended that the Social Security Fund should regulate the relationship between the contributions made by the members to PSPF before retirement to be proportional to the benefit they receive after retirement.
Related Project Materials
DOMESTIC WASTE DISPOSAL, EFFECT AND THE SOLUTIONS IN ENUGU STATE (A CASE STUDY OF ESWAMA)
ABSTRACT
Domestic Waste Disposal is any material from plants and animals which cannot be recycle back into...
DESIGN AND IMPLEMENTATION ONLINE SMS EXAMINATION TIMETABLE ALERT SYSTEM
ABSTRACT
This project designs and implements an algorithm which creates a semester course timetable by assigning time-sl...
AWARENESS AND UTILIZATION OF ADOBE PHOTOSHOP TO TEACH PAINTING IN SENIOR SECONDARY SCHOOLS IN ABEOKUTA LOCAL GOVERNMENT OF OGUN STATE
BACKGROUND OF THE STUDY
In the last decade, computer technology has taken a giant leap forward in helping student...
DESIGN AND IMPLEMENTATION OF AN ONLINE DRIVING SCHOOL MANAGEMENT SYSTEM
BACKGROUND OF THE STUDY
With the rapid development in information technology, higher request is needed...
EFFECT OF TWITTER BAN ON POLITICAL CAMPAIGN
BACKGROUND OF THE STUDY
Social Networking have already transformed the national...
EFFECT OF PERFORMANCE APPRAISAL ON EMPLOYEE PERFORMANCE IN AN ORGANIZATION
ABSTRACT
The main focus of this study is to examine the effect of performance effect of performance app...
CRITICAL EXAMINATION ON CONTRACT FOR THE SALE OF LAND IN NIGERIA
STATEMENT OF PROBLEMS
The principles and Effect for selling land is what this study deals with the transfer of interest...
THE IMPACT OF SCHOOL ENVIRONMENT ON TEACHING AND LEARNING: A CASE STUDY OF NIGER COLLEGE JUNIOR SECONDARY SCHOOLS TWO
ABSTRACT
The impact of school environment on teaching and learning was carried out in Niger College Junior Secondary...
THE IMPACT OF OFFICE ENVIRONMENT ON THE JOB PERFORMANCE OF OFFICE WORKER (A CASE STUDY OF UNITED BANK OF AFRICA WAREHOUSE ROAD APAPA, LAGOS)
Preamble
The contribution of human labor is essential to organization. To understand this phenomena is...
PROBLEMS AND PROSPECTS OF MAIZE PRODUCTION
ABSTRACT
This study was specially designed to find the problems and prospects of maize production in Kaduna State. In carrying out this s...
