An Assessment of the Impact of Contributory Pension Scheme to Nigerian Economic Development

Adejoh

An Assessment of the Impact of Contributory Pension Scheme to Nigerian Economic Development

Adejoh * §

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§ Kogi State University, Anyigba, Kogi State, Nigeria.

An Assessment of the Impact of Contributory Pension Scheme to Nigerian Economic Development

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Abstract

This research work is focused on the assessment of the impact of Contributory Pension Scheme to Nigerian Economic Development with relevance to Pension Fund Manager. The objective of this study was to examine how contributory pension scheme influence the Gross Domestic Product (GDP) in Nigeria. More so, this study is aimed at suggesting the best reliable way for tackling or handling the fear that the funds or Retiree Savings Account (RSA) contribution can be mismanaged by the existing trustees. The main problem of the study was centered on the nature and effect of risk prevailing in the pension assets management. The researcher designed the study using survey design and sample size was taken as 30 and 70 for both staff and customers respectively. Data were collected from both primary and secondary sources and analyzed using percentage. The researcher adopted correlation analysis for testing secondary data and ANOVA for the primary data. The result of correlation analysis using t-test revealed that Contributory Pension Scheme (CPS) has significant impact on the GDP while the result of ANOVA revealed that risk prevalent has positive effect on the pension fund management. The researcher therefore, recommends that the Pension Fund Administrators should invest in less risky portfolio to enhance prompt payment of pension to retirees.

References

22 Cites in Article

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Funding

No external funding was declared for this work.

Conflict of Interest

The authors declare no conflict of interest.

Ethical Approval

No ethics committee approval was required for this article type.

Data Availability

Not applicable for this article.

How to Cite This Article

Adejoh. 1970. "An Assessment of the Impact of Contributory Pension Scheme to Nigerian Economic Development". Global Journal of Management and Business Research GJMBR Volume 13 (GJMBR Volume 13 Issue 2).

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GJMBR Volume 13 Issue 2

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Journal Specifications

Crossref Journal DOI 10.17406/GJMBR

Print ISSN 0975-5853

e-ISSN 2249-4588

Keywords

contributions Development Economic pension

Classification

GJMBR Classification JEL Code: 160505

Submission ReceivedDecember 15, 2012
Peer Review Double Blind
Handling Editor
Accepted January 14, 2013
Published January 25, 2013

Version of record

v1.2

Language

English

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Article Matrices

Total Score: 154

Country: Nigeria

Subject: Global Journal of Management and Business Research

Authors: Dr. Edogbanya, Adejoh (PhD/Dr. count: 1)

View Count (all-time): 208

Total Views (Real + Logic): 4111

Total Downloads (simulated): 245

Publish Date: 2013 01, Fri

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Total Views: 4.1K

Total Downloads: 245

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