CHAPTER ONE
INTRODUCTION
1.1 Background of Study
1.2 Statement of Problem
1.3 Objectives of
Problem
1.4 Significance of
Study
1.5 Scope and Study Limitation
1.6 Research Questions
1.7 Definitions of Terms
Reference
CHAPTER TWO
LITERATURE REVIEW
2.1 Concept of
Retirement
2.2 Retirement Benefits
2.3 Methods of Providing
Benefits
2.4 Establishing
Retirement Benefit Scheme
2.4.1
Creation of the Legal Frame Work
2.4.2
Informing the Employees
2.5 Qualifications for
Membership
2.51 Circumstance in which Gratuity
and Pension may be granted
2.5.2
Computation of Pension and Gratuity
2.5.3
Non-Reckonable Services
2.6 Types of Benefits
2.7 Problems Associated
with Scheme Administration
2.7.1
Public/ Civil Service Scheme
2.7.2
Self Administration Scheme
2.7.3
Insured Scheme
References
CHAPTER THREE
RESEARCH METHODOLOGY
3.1 Sources of Data
3.2 Research Instrument
Used
3.2 Research Population
3.4 Data Analysis
Technique
References
CHAPTER FOUR
PRESENTATION AND ANALYSIS OF DATA
4.1 Analysis of Data
Collected from Employees in Active Service
4.2 Analyses of Data
Collected from Retired Employees
- 4.3 Analysis of Data Interview Conducted.
- 2. CHAPTER FIVE
- FINDING, CONCLUSION AND RECOMMENDATIONS
- 5.1 Findings
- 5.2 Recommendations
5.3
Conclusion
5.4
Bibliography
5.5
Appendix
5.6
Appendix
5.7
Appendix
5.8
Questionnaire
5.8.1.1.1.1.1.1
ABSTRACT
5.9 No
man is an island; collectively we have been able to make a thorough research on
how effective pension scheme in both the civil and public sectors of the
Nigerian economy has been beneficial or just a mirage to the Nigerian workers;
thus a case study of Enugu state.
5.10 In the first case, the
purpose of the stuffy shall be looked at. As an overview, the aim of this study
as to look at the impact of pension schemes on a sector of Nigerian workers of
this public servants and how effectively this pension arrangement would be made
so as to cover every sphere of there problem in relation to this. So, the
purpose stretches from the important of a proper pension arrangement and how
best it shall be implemented to affect a proper working of the plan.
5.11 The method of study is
purely on both qualitative and quantitative basis. But in particularity, the
table analysis was used for the analysis of the data collection.
5.12 The third part of the
project, death on method of data collection which was purely on interview; so
the response from the interview as used a data per analysis for the research
work.
5.13 The last part deals with
basically the major pounding. This shall be merit viewed as follows the factors
which militate against the effective administration of pension scheme in the
country which may include: irregular payment of benefits lack of
enlightmentprogramme etc. in our findings, the following recommendation could
ensure a need for regular review of prisoners the manpower needed making the
scheme to be contributory etc.
- 6. CHAPTER ONE
- 7. INTRODUCTION
1.0
BACKGROUND OF STUDY
7.3 In
the traditional Nigerian society, aged parents look up to their children for
support and this is one reason that the average numbers of children in Nigeria
home are usually more than those of their counterparts in more developed
countries. The home is therefore the bedrock of provision for the old. This
arrangement therefore instates the role of a pension scheme on a less final
setting.
7.4 It
would be appropriate at this junctures to briefly give the meaning of a
pension.
7.5 A
pension can be defined as a series of regular payments provided by government
or former employer for a person who has come to the end of his normal working
life. It is an income during retirement at it’s most basic level. Such an
income will assist the retired person to survive and depending on the amount
and on any other means he may have, it may also enable him continue to enjoy
some of the luxuries which he could afford during his working life. As earlier
indicated, it is evident now that the Nigerian traditional society simply
substitutes the large extended family as a pension scheme. Members of the
family collectively make every provision required by the retired for his/her
upkeep until death.
7.6
This method of course is crude and not very effective one which can be
illustrated as thus: Assuming the retired has an infirmity this would mean
double trouble for the supporting family and where the loss by accidental means
one can retire only imagine the plight of such a retiree and dependents.
7.7 In
order not to dabble much into that aspect, we will now examine the background
of the pension scheme itself. Accordingly, pension dates back to the twelfth
century and in those time, it was only through local manors or boroughs that
protection was obtained from hardship and also within the confines of the
community that guilds distributed relief. At that time though it was only
regarded as relief for the old and poor and not necessary as a benefit for
service rendered during one’s working days. These guilds were founded on
religious or charitable basis and as time want on, merchants and craft guild
were also founded. Gradually as strong central government emerged, caring of
the poor because a national issue rather than a local responsibility so
legislature concerning the poor because common.
7.8 As
time wants on, the occupational pension scheme which established a right to a
pension as a result of previous employment was also introduced and this is
where, we are most concerned with in this research work.
7.9 In
Nigeria generally, pension scheme does not import much meaning to the workers,
not to mention it’s usefulness. It still has not rested it’s full weight on the
Nigerian populace because all they see and know about is that it is some sort
of income which one is supposed to be entitled to after retirement but never gets.
7.10 This is the present
position of what the average Nigerian worker feels and knows of pension, which
is pathetic.
7.11 What is the cause of this
situation? How do we go about correcting the system? All these and other
questions will enable us straighten out the present position of pension schemes
in Nigeria using Enugu state as a case study.
7.12 Many Nigerian workers
after retirement from active service whether voluntary or otherwise are not
aware of what entitlements they are entitled to as pension or where there is
awareness, those in authority seen to be up to one thing or the other in order
to delay the commencement and safe of the retiring employee’s pension.
7.13 Experts in Nigeria agree
that due to the fact that most workers become dejected and worn-out after
retirement, not a few of them (workers) look up to their retirement period with
optimism.
7.14 While the retired civil
servants could be slightly better if as they are entitled to monthly stipends
in the firm of pensions their counterparts in the private sector are not so
lucky. They receive theirs en-bulk at the initial time of retirement and no
more. Therefore it becomes difficult for them to plan and carry out their
obligations which they still carry along with them regardless of their fresh
status, as retried workers.
7.15 Another area where this
research would tend to examine are the reasons being given for the delay in
payments of gratuities and pensions which range from structural defects in
payment arrangement in relation to bureaucracy, fraud and mismanagement of
pension funds, though the Nigerian constitution on the protection of pensioners
safe “The right of a pension in all the public service of the federation to
receive pension or gratuity shall be regulated by law. Any benefit to which a
person is entitled shall not be withheld to his disadvantage it however, is
salient on when payments should be made and penalties for delay.
7.16 It is against this
background that this research work will be established and recommendation made
curb the present disheartening situation as regards pension schemes in Nigeria.
- 8. 1.2 STATEMENT OF PROBLEM
8.3
This study will aim at examining the problems associated with pension scheme
effectiveness and efficiency, the administration of pension funds and criteria
for setting up such schemes in Nigeria. It intends to finds out why it is near
impossible for retirees to receive their pensions, the employees’ role in
pension’s arrangement and the administration of the pension funds. Another
problem that would be considered would be that of managing the retirees in such
a way that they are given adequate opportunity which would enable them to
prepare very well or their new lives after their disengagement from active
service as well as rehabilitating them so as to prevent the social menace in
the society.
- 9. 1.3 OBJECTIVE OF STUDY
9.3
The objectives of the study are enumerated as follows:
- Examine the effects of pension schemes on the average Nigerian workers
- Ascertain difficulties associated with the administration of the scheme
- Cross check methods in which schemes are run
- Recommendation on row to solve difficulties.
- 14. 1.4 SIGNIFICANCE OF THE STUDY
14.3 The significance or
import of this study is such that would be a useful parameter in the following
ways:
- Reward for loyal service
- Promote efficiency within an organization by making it possible for older employees to retiree without fear of poverty and wretchedness.
- Help employers attract the right types of staff and retain them
- Encourage good employer/employee relationship
18.3 The study will also be an
invaluable contribution to the following groups:
18.4 Employers of labour
18.5 Slate and local government
Authorities
18.6 Management and staff of
the Nigerian social insurance trust fund
18.7 Federal government
18.8 Insurance and brokerage
companies
- 19. 1.5 SCOPE AND LIMITATION
19.3 The scope of this study
will be limited to Enugu State and focus on two public limited companies
Nigerian Railway Corporation (NRC) and NNPC but focusing mainly on Nigerian
Nationally Petroleum Corporation (NNPC). It is anticipated that the result of
this research would provide valuable insight for a possible re-valuation of not
only the target companies but other companies administration of pension scheme.
19.4 Time constraint was a
major limitations in presenting this research work as the incessant disruption
of academic would not encouraged one to carry on with school chores and
finally when academic eventually began, only a short period was set aside
before examinations would commence, with the present economic for more than 5
years.
HOW
TO GET THE FULL PROJECT WORK
PLEASE,
print the following instructions and information if you will like to order/buy
our complete written material(s).
HOW
TO RECEIVE PROJECT MATERIAL(S)
After
paying the appropriate amount into our bank Account below, send the following
information to
08140350866
or 08058580848
(1)
Your project topics
(2)
Email Address
(3)
Payment Name
(4)
Teller Number
We
will send your material(s) immediately we receive bank alert
BANK
ACCOUNTS
Account
Name: AKINYEMI OLUWATOSIN
Account
Number: 3022179389
Bank:
FIRST BANK.
OR
Account
Name: AKINYEMI OLUWATOSIN
Account
Number: 2060566256
Bank:
UBA.
OR
Account
Name: AKINYEMI OLUWATOSIN
Account
Number: 0042695344
Bank:
Diamond
HOW
TO IDENTIFY SCAM/FRAUD
As
a result of fraud in Nigeria, people don’t believe there are good online
businesses in Nigeria.
But
on this site, we have provided “table of content and chapter one” of all our
project topics and materials in order to convince you that we have the complete
materials.
Secondly,
we have provided our Bank Account on this site. Our Bank Account contains all
information about the owner of this website. For your own security, all payment
should be made in the bank.
No
Fraudulent company uses Bank Account as a means of payment, because Bank
Account contains the overall information of the owner
CAUTION/WARNING
Please,
DO NOT COPY any of our materials on this website WORD-TO-WORD. These materials
are to assist, direct you during your project. Study the materials
carefully and use the information in them to develop your own new copy. Copying
these materials word-to-word is CHEATING/ ILLEGAL because it affects Educational
standard, and we will not be held responsible for it. If you must copy
word-to-word please do not order/buy.
That
you ordered this material shows you have agreed not to copy word-to-word.
FOR
MORE INFORMATION, CALL:
08058580848,
08140350866
YOU
CAN ALSO VISIT:
www.achieverprojectmaterial.com
www.acheiversprojectmaterials.com
www.achieversprojectmaterials.com
www.naijasplash.com
www.achieversprojectmaterials.blogspot.com
www.achieverprojectmaterial.blogspot.com
www.acheiversprojectmaterials.blogspot.com
www.archieverprojectmaterials.blogspot.com
www.acheiversprojectmaterials.blogspot.com.ng
www.archieverprojectmaterials.blogspot.com.ng
www.achieversprojectmaterials.blogspot.com.ng
www.achieverprojectmaterial.blogspot.com.ng
www.achieverprojectmaterial.wordpress.com
www.achieversprojectmaterials.wordpress.com
www.acheiversprojectmaterials.wordpress.com
www.archieverprojectmaterials.wordpress.com
No comments:
Post a Comment