ASSESSMENT OF NASARAWA STATE PENSION POLICY ADMINISTRATION ON STATE CIVIL SERVICE RETIREES’ STANDARD OF LIVING, NIGERIA
BadamasI, Aliyu Usman and Odonye, Yusuf Dauda, Ph.D
Volume 3 Issue 3
Abstract
The study examined the Defined Benefit Pension policy administration on the Standard of Living of Nasarawa State Civil Service Retirees. The beneficiaries of the scheme are wallowing in abject poverty and their standards of livings become more deteriorated. In spite of various reforms introduced to the pension system in Nigeria, Nasarawa State Civil Service has not implemented the 2004 and 2014 Pension Acts. The story of pensioners therefore remained the same. Their living standard continues to decline from the desired level. To achieve this, Survey research designed was adopted using primary data gathered through structured questionnaire and Secondary data from the reports of Nasarawa State Pension Bureau. 202 Sample size was drawn from a population of 505 retirees of Nasarawa Civil Service from 2013 to 2023 using Taro Yamane formula. Data were analyzed using multiple regression analysis. It was found that pension scheme have significant and positive effect on pensioners’ standards of living. Conclusively, pensioners under Nasarawa State Civil Service are not enjoying the administration of pension scheme and the current practice does not have any impact on their standard of living. It is therefore recommends that pensioners should be given their entitlements based on the National Pension Standards as well as implementing the 2014 Pension reforms acts immediately. Keywords: Pensioners, Pension Scheme, Standards of Living, Nasarawa State Civil Service.
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