IMPACT OF PENSION ADMINISTRATION IN ACCESS OF PENSION BY RETIREES IN ASKIRA-UBA LOCAL GOVERNMENT AREA

The challenges faced by retirees in accessing pension funds in Nigeria have affected the overall Pensioners and also the Pension administration across the country. This challenges result in bad health status of retirees and his family, poor education to their children, absence of basic need of the family, lack of balance diets and lack of efficient health care all because of the ineffective and inefficient run of the pension Administration. This study therefore, this study assesses the challenges faced by retirees in accessing pension funds in Askira-Uba Local Government Area Borno State. The objectives of the study is to examine and identify the issues or problems faced by retirees in accessing pension funds in Askira-Uba Local government area as to examine the impact of pension administration in access of pension by retirees, to investigate the influence of bribery and corruption and to ascertain the role of government in in putting an end to those challenges being faced by retirees in Askira-Uba Local Government Area .This study utilized both primary and secondary sources data. The primary data were sourced from the respondents through the use of structured questionnaire and interview while the secondary data were sourced from the internet, periodicals, journals, articles, seminar, dissertation etc. As regard, retirement benefits, a lump sum is given once after retirement and second part of the pension is that which the employees are receiving after every month. The findings also revealed most of the complaints were the inadequacy of benefits, delays in payments, lack of update information about the schemes and the amount of individual contributions made, estimated benefits statements and incomplete contribution records, it is also revealed that the unmonitored, system of pension Administration has resulted to inefficiency in the run of the system which leads to the numerous problems in the life of retirees and the overall economy development of the country. It is recommended that the Social Security Fund should regulate the relationship between the contributions made by the members to PSPF before retirement to be proportional to the benefit they receive after retirement.