Tier Three Pension Scheme in Ghana: What is the Employees' Level of Understanding?

Belinda Darkwa-Gyekye (), Richard Antwi () and Emmanuel Boahene ()

American Journal of Finance, 2023, vol. 8, issue 1, 21 - 30

Abstract: Purpose: The study examined the level of knowledge of Tier III pension scheme among public sector employees in the New Juaben Municipality. Methodology: The descriptive research design was employed. Data were collected, using self-administered questionnaire from 300 randomly selected employees. Data collected were analysed using means, standard deviations and Explanatory Factor Analysis. Findings: The results showed that eight dimensions account for about 78% of the variance in level of knowledge of Tier III pension scheme. Furthermore, generally, the level of knowledge of Tier III pension scheme among employees was low. It was concluded that employees were agitated because they had low level of knowledge of the Tier III pension scheme. Recommendations: It was recommended that the immediate superiors of employees should, from time to time, organise seminars to take employees through all that the employees need to know about the Tier III Pension Scheme.

Keywords: Tier III; Pension Scheme; Employees; Level of Understanding (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:bfy:ojtajf:v:8:y:2023:i:1:p:21-30:id:1430

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