THE IMPACT OF THE NEW CONTRIBUTORY PENSION SCHEME ON THE WELFARE OF RETIREES (A CASE STUDY OF KADUNA STATE BUREAU FOR PENSION)
Abstract
ABSTRACT
The purpose of the study was to examine the impact of the new contributory pension scheme on the welfare of retirees (a case study of Kaduna state bureau for pension). The study adopted survey and questionnaire was utilized as the instrument for data collection. A total of fourty (40) questionnaire were distributed to the respondents and thirty eight were returned accounting for 98 percent rate of return. The data collected were analyzed using frequency and simple percentages as well as inferential statistics. The findings reveal that there exit a relationship between the new Pension Scheme and the welfare of retirees in Bureau for Pension Kaduna even though the impact was not the much. The study further found that the retirees continued to take shelter in rented houses which hardly accommodate all households. The study recommends that Government should amend the new pension scheme to make it more retirees center. The study also recommends that retirees should be allow to collect their entitlement in bulk if they so wish without any restriction.
Keywords: Contributory Pension Scheme, Welfare, Retirees Kaduna State
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