J. K.J. Onuora, Festus Ubogu


Due to the inefficiency of pension managers and administrators is scared of a future of retirement without a pension. The study made use of primary and secondary data in order to ascertain the appraisal of operational efficiency of the pension scheme administration in Nigeria.  A descriptive survey research design was used and Taro-Yamani sampling technique was also used in determining the sample size.  However, 400 questionnaires were administered while 385 copies were returned and the study was based on the 385 copies that were returned from selected respondent.  The results indicated that there are no significant reason for delays in the payment of pensions and gratuity of retired workers in Nigeria, that there are significant major institutional structures that made the old pension system not very effective in Nigeria.  The study concludes that a well organized pension scheme that will ensure prompt payment of retirees and pensioners is highly desirable and this must be rigorously pursued by government.  The study therefore recommends among others: Pensioners should not be restricted by age in order to enjoy their pension benefits in their Retirement Savings Account (RSA) since it’s now a contributory scheme.  The retirement provision of 35 years of service or 60 years of age whichever comes first (as contained in the Pension Act 1990) should be retained to create employment in the public service.

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