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

Authors: NWOGWUGWU Ngozi

Publication Type: Journal article

Journal: Asian Social Science

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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 (?=.46, R2=0.49, t=10.57, p<0> recommended that contributors should be involved in all decision making processes regarding their pension fund
investments to guarantee a high standard of living at retirement.

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NWOGWUGWU,N. . (2019). Contributors’ involvement in Pension Fund Investments Decision Making and Retirees Standard of Living in University of Lagos, Nigeria, 154 (), 69-69.

NWOGWUGWU,N. . "Contributors’ involvement in Pension Fund Investments Decision Making and Retirees Standard of Living in University of Lagos, Nigeria" 154, no (), (2019): 69-69.

NWOGWUGWU,N. and . (2019). Contributors’ involvement in Pension Fund Investments Decision Making and Retirees Standard of Living in University of Lagos, Nigeria, 154 (), pp69-69.

NWOGWUGWUN, . Contributors’ involvement in Pension Fund Investments Decision Making and Retirees Standard of Living in University of Lagos, Nigeria. 2019, 154 ():69-69.

NWOGWUGWU,Ngozi , . "Contributors’ involvement in Pension Fund Investments Decision Making and Retirees Standard of Living in University of Lagos, Nigeria", 154 . (2019) : 69-69.

N.Ngozi , "Contributors’ involvement in Pension Fund Investments Decision Making and Retirees Standard of Living in University of Lagos, Nigeria" vol.154, no., pp. 69-69, 2019.

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