ASSESSMENT OF THE EFFECT OF 2014 CONTRIBUTORY PENSION SCHEME ON PENSIONERS' WELFARE IN ABUJA MUNICIPAL AREA COUNCIL, FEDERAL CAPITAL TERRITORY - ABUJA, NIGERIA (2014 - 2019)

dc.contributor.authorMUSA, Idris OLUCHUKWU, Sakinah Aziagba
dc.date.accessioned2024-10-17T15:10:07Z
dc.date.available2024-10-17T15:10:07Z
dc.date.issued2020-10
dc.description.abstractThe Nigerian pension administration have from its inception been bedevilled with irregularities and untimely payment of retirement benefits coupled with poor retiree's welfare. In response to the myriad of problems and in line with its fundamental objective of ensuring the security and welfare of the people, the government took measures aimed at developing a system that would be more sustainable and have the capacity of providing a stable, predictable and adequate source of retirement income for all its participants in 2004 and later amended as the Pension Act of 2014. Despite these efforts, the living condition of pensioners has not improved due to untimely payment of retirement benefits. The study, therefore, examined the effect of 2014 Contributory Pension Scheme on pensioners' welfare in AMAC. Agency theory was used to underpin the work. The study employed the descriptive survey design and data was collected through a structured questionnaire administered to a sample of 50 respondents in AMAC, of which 48 were correctly filled and returned. Simple linear regression analysis was used to test the hypothesis. The results revealed that there is a significant positive relationship between timely payment of retirement benefits and pensioner's welfare in AMAC. Based on the findings, the study recommended that apart from adequate sensitization of retirees to keep them abreast with the modalities of the scheme, they should be encouraged to make additional voluntary contributions into their Retirement Savings Account (RSA).
dc.identifier.citationDepartment of Public Administration Faculty of Administration Ahmadu Bello University, Zaria
dc.identifier.urihttps://kubanni.abu.edu.ng/handle/123456789/13040
dc.language.isoen
dc.titleASSESSMENT OF THE EFFECT OF 2014 CONTRIBUTORY PENSION SCHEME ON PENSIONERS' WELFARE IN ABUJA MUNICIPAL AREA COUNCIL, FEDERAL CAPITAL TERRITORY - ABUJA, NIGERIA (2014 - 2019)
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