Contributors’ Involvement in Pension Fund Investments Decision Making and Retirees Standard of Living in University of Lagos, Nigeria

Hope Nwawolo and Ngozi Nwogwugwu

Asian Social Science, 2019, vol. 15, issue 4, 69

Abstract: Management of the pension scheme in Nigeria had been inundated with several and diverse challenges ranging from corruption and mismanagement of funds for some decades. As a result retirees were not able to access their pension benefits leading to some dying without access to their fund. The government then introduced the contributory pension system in a pension Act of 2004 which was amended in 2014, as a measure to minimize the sufferings of retirees as well as allay the fears of workers. However, the problems of pension are yet to abate and retirees are still groaning under unstable welfare. This study examined contributors’ involvement in pension funds investment decision making and retirees’ standard of living. The study adopted convergent parallel research design with population being non-academic staff of University of Lagos. The population of the study was 5098 and sample size was set at 100 respondents using Taro Yamane’s (1967) formula. Response rate of the validated questionnaire was 91%. Descriptive and inferential statistics (linear regression) were employed in analysis of data. The study found that contributors’ decision making on pension fund investment exerted a positive significant effect on retirees standard of living (β=.46, R2=0.49, t=10.57, p

Date: 2019
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
https://ccsenet.org/journal/index.php/ass/article/download/0/0/38955/39703 (application/pdf)
https://ccsenet.org/journal/index.php/ass/article/view/0/38955 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ibn:assjnl:v:15:y:2019:i:4:p:69

Access Statistics for this article

More articles in Asian Social Science from Canadian Center of Science and Education Contact information at EDIRC.
Bibliographic data for series maintained by Canadian Center of Science and Education ().