Effect of 2014 PRA on Management of Retirement Benefits in Public Sector Organizations

Molokwu, Ifeoma Mirian; Uchenu Chimezie Ada; Ufoaroh, Ebele Theresa

Effect of 2014 PRA on Management of Retirement Benefits in Public Sector Organizations

Molokwu, Ifeoma Mirian * §

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Uchenu Chimezie Ada

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Ezeanyim, Ekene Ezinwa

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§ Anambra State Polytechnic Mgbakwu

Effect of 2014 PRA on Management of Retirement Benefits in Public Sector Organizations

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Abstract

The study is on the effect of 2014 Pension Reform Act in management of retirement benefits of selected public sector organizations (federal parastatals in Anambra state). The study examined the appropriateness of documentation by Pension Fund Administrators and its effects on the time lag before pensioners receive their lump sum (gratuity).It also determined the level of accuracy in computation of pension. To streamline the study, two research questions and two hypotheses were formulated. A descriptive survey research design was adopted for the study. The population of the study consisted of 128 pensioners from NIPOST, INEC and NPC Anambra state who retired under 2014 Pension Reform Act. Due to the smallness of the population size, the entire population was used as the sample size. Data for the study was collated through primary source (questionnaires).The reliability of the instrument was ensured using pilot test and analyzed using Cronbach Alpha, it yielded a reliability co-efficient of 0.85. Analysis of variance was used to analyze the data collated. The result of the analysis revealed that the level of accuracy in computation of pension is not very satisfactory.

References

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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

Molokwu, Mirian, Uchenu Ada, Ufoaroh, Theresa. 2019. "Effect of 2014 PRA on Management of Retirement Benefits in Public Sector Organizations". Global Journal of Management and Business Research, Global Journal of Management and Business Research - D: Accounting & Auditing GJMBR-D Volume 19 (GJMBR Volume 19 Issue D3).

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GJMBR Volume 19 Issue D3

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Journal Specifications

Crossref Journal DOI 10.17406/GJMBR

Print ISSN 0975-5853

e-ISSN 2249-4588

Keywords

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Classification

GJMBR-D Classification JEL Code: J26

Submission ReceivedDecember 8, 2018
Peer Review Double Blind
Handling Editor
Accepted January 1, 2019
Published January 15, 2019

Version of record

v1.2

Issue date

August 13, 2019

Language

English

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Article Matrices

Total Score: 152

Country: Nigeria

Subject: Global Journal of Management and Business Research

Authors: Molokwu, Ifeoma Mirian, Uchenu Chimezie Ada, Ufoaroh, Ebele Theresa (PhD/Dr. count: 0)

View Count (all-time): 297

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Publish Date: 2019 01, Tue

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