AN EVALUATION OF THE NIGERIAN PENSION SCHEME WITH SPECIAL REFERENCE TO MILITARY PENSION PLAN

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dc.contributor.authorMAUDE, Aminun-Kano
dc.date.accessioned2014-02-07T08:34:28Z
dc.date.available2014-02-07T08:34:28Z
dc.date.issued2007-12
dc.descriptionA DISSERTATION SUBMITTED TO THE POSTGRADUATE SCHOOL, AHMADU BELLO UNIVERSITY, ZARIA, IN PARTIAL FULFILMENT OF THE REQUIREMENTS FOR THE AWARD OF THE DEGREE OF DOCTOR OF PHILOSOPHY IN ACCOUNTING AND FINANCEen_US
dc.description.abstractABSTRACT In recent years, the plight of pensioners, especially former military personnel, has dominated the headlines, prompting the authority in Nigeria to undertake a reform of the country’s pension system. The aim of this research work is therefore, to evaluate the causes of the failure of the defined benefit pension scheme in Nigeria and to recommend measures that will ensure the success of the newly introduced defined contribution pension scheme. To achieve these objectives the research reviewed literature on pension, underscoring the merits of pension reforms commonly associated with a switch from a defined-benefit (DB) to a defined contribution (DC) pension system. We also used data from a cross section of 360 both former and serving staffs of the Nigerian military service to gauge the extent of their satisfaction with the DB scheme. Using F-tests obtained from the one-way analysis of variance, hypotheses were tested. The main results emanating form the study can be grouped into a couple of categories. One, our results show that the defined benefit pension scheme suffered from a glaring lack of commitment by the military pension authority to ensure efficient service delivery to the pensioners. According to the findings of this research, lack of commitment of the authority is manifested in a number of ways, such as poor administration manifested in over-centralization of the pension agency, with a poorly administered organ being responsible for pensioners nationwide. Our results also show that Nigeria’s defined benefit scheme suffered from not only inadequate funding but also from flagrant refusal of the military to subject their operations to regular audit, an important requirement for transparency and sound governance. Our main policy conclusion is that while the reforms of the country’s pension is in order and laudable, lessons from this research suggest that adequate cares should be taken to ensure that the relevant military pension authorities stick to the requirement of regular audit, and avail themselves of the opportunities offered by modern information and communication systems that allow for computerization of pension records for efficiency, transparency and effective management.en_US
dc.identifier.urihttps://kubanni.abu.edu.ng/handle/123456789/547
dc.language.isoenen_US
dc.subjectEVALUATION,en_US
dc.subjectNIGERIAN,en_US
dc.subjectPENSION,en_US
dc.subjectSCHEME,en_US
dc.subjectSPECIAL,en_US
dc.subjectREFERENCE,en_US
dc.subjectMILITARY,en_US
dc.subjectPENSION,en_US
dc.subjectPLANen_US
dc.titleAN EVALUATION OF THE NIGERIAN PENSION SCHEME WITH SPECIAL REFERENCE TO MILITARY PENSION PLANen_US
dc.typeThesisen_US
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