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PENSION AND GRATUITY ADMINISTRATION
IN NIGERIA: PROBLEMS AND SOLUTION
ABSTRACT
The research
study titled ‘’Pension and Gratuity Administration in Nigeria Problems and
solution’’ A case study of Kogi State Pension Board, Lokoja, shows the problems
of poor and non-implementation of pension and retirement benefits payment for
several years and another problem of delay in payment of pension and gratuity.
This research work is written with the objectives to evaluate the problems and
to improve the administration of pension and gratuity. Data of this study were
collected from primary and secondary sources. The efficiency of the field work
from the fourty respondents were validated using statistical instruments known
as simple percentage and chi-square method respectively. Findings shows that
pension and gratuity can be effectively administered in Kogi State and also
indicates that there are problems encountered in the administration of pension
and gratuity and that benefits are not being paid to the beneficiaries as at
when due. Recommendations were also made that there should be improvement in
the administration of pension and gratuity, the staff of the pension board
should be well trained to ensure adequate accountability and all retirement
benefits should be paid to beneficiaries as at when due.
CHAPTER ONE
INTRODUCTION
The
importance of pension and gratuity in Nigeria cannot be over emphasized. An
evaluation of administration of pension and gratuity generally indicates some
militating factor against prompt payment of retirees. Every person employed for
several numbers of years would one time be retired of his/her post either
voluntarily and be given a name, pensioner or retirees. At that point in time
he/she starts collecting meager amount monthly called pension. One is said to
be retired if one is not working full time and derives at least the largest
portion of his/her financial support from pension payment and this continue
until the retiree (ceases to live again (die).
However, the
attitude of the beneficiaries over long period of time have called researchers
attention to point out problem associated with the system of payment and at the
same time suggest valuable solutions to the improvement of the system.
According to
the pensions decree No 102 of 1979 section 4 (1) the statutory age of
retirement of public servants is 60 years while judiciary officials retire at
the age of 65. Consequently, the civil service re-organization decree 43 of
1988 had add the modification that officers should now retire from service on
attaining the age of 60 years or 35 years of services which ever that come
earlier.
In Nigeria,
where the government is the major employer of labour, its policies are adopted
by independent industrial and commercial organizations.
The impact
of pensions and gratuity is almost universal even if an employee received huge
sum of money while on active working service yet income received after
retirement will decrease depending on the level he/she retired. And this is
done based on the schedule for the computation of gratuity and pensions.
1.1
BACKGROUND OF THE STUDY
Pension and
gratuity scheme in transition economies were used to augment and alleviate the
effect of output loss on certain strata of the population and raised income
inequality that pervaded the economies.
However, the
attitude of the beneficiaries over long period of time have called researchers
attention to point out problem associated with the system of payment and at the
same time suggest valuable solutions to the improvement of the system.
In Nigeria,
government has claimed to be using pension and gratuity system to ameliorate
and augment the suffering of her retired public workers.
Pensions and
gratuity as a reform of special security against old age, poverty and other
uncertainties arouses great interest virtually every where both in developed
and developing countries in recent times, pension programmes specially those
that are publicity financed and administered have become issue of concern to
economist, policy makers and public at large. This is not only one because such
programmes are central to the well-being of the pensioners or any elderly, but
largely because majority of the pension and gratuity programmes are not
balanced (i.e. they are not financially stable) and as such, they are run at
deficits, thus making the present values of their future liabilities to be
largely enormous (Chard and Jaeges).
At this end,
an overview of what pension and gratuity programmes/scheme entails is needed
for a general understanding of pensions and gratuity scheme as a reform of
social security services.
1.2
STATEMENT OF THE PROBLEM
As it is,
without a problem, there cannot be a meaningful research. Many researchers have
identified the problem associated with the administration of pension and
gratuity in Nigeria and have equally suggested useful solution to the
improvement of the scheme.
Such as
Ogbomide (2000), there should be a separate account and a particular bank
whereby the pensioners will be able to collect their allowance and the bank
should be able to keep all.
Gbitse, B.
(2004), the staff of pension board should be adequately trained so as to ensure
accountability.
However,
despite the various pension establishments in terms of structure, power, and
functions etc. beneficiaries of this scheme are loudly cried for both poor and
non implementation of pension and retirement benefit payment for several years
and these acts attracted pension management crisis which by implication on
caused social security of the nation.
Over the
years experience has shown that payment of pension and gratuity to the retired
public officers has been consistent in that the number of people retiring or
leaving public sector increased yearly and as such, government bears the burden
embedded in the payment to the beneficiaries.
In view of
the above, government disbursement on this increase daily making it difficult
to have a regular pay to the said beneficiaries, infact, it is viewed at this
point that if this could continue without improved procedure and define
policies to meet the high demand of increase numbers of retirees, government is
bound to face with high tension concerning the large pension deficits and
unbalance between the pension contribution and benefit leading to a large
pension liabilities.
This is
clearly shown that the federal government is not showing the readiness or
eagerness to meet the obligation of financing the pension scheme as deem
necessary. The inadequacy and inefficiency of government, public pension have
resulted into deteriorate well being for pension in Nigeria.
For many
pensioners the benefit that accrue to them from the public pension scheme are
of advantage in nature as there are also several costs associated with the
scheme. To start with, pensioners benefit are to be paid as at when due, some
of them have not been able to lay their hands on their entitlement after many
years of retirement either due to inadequate pension funds for payment or due
to the total omission of their names from the pension beneficiary list. Even
when they are to be paid their benefits. Many died on the queue due to fatigue
and falling health while waiting at the payment of their pension.
It is true
that Nigeria government put in place its pension and gratuity scheme so as to
benefit the pensioners such that they are protected against old age, poverty
and other old age risks and uncertainty but the availing solution in the
country has revealed benefits to pension scheme.
The central
objectives of this paper therefore is to evaluate the problems and payment of
retirement benefits and the initials purpose for the establishment will be
defeated.
Another
problem is the omission of some of the retiree’s name on the voucher which
cause inconvenience to both the retirees who fall victim and the officer in
charge of the preparation of the voucher.
In addition
is the time spend after the final approval has been ,ade to have the
entitlement collected in liquidity this can also be traced to the office of the
Auditor Generals office is a chain of process, and before cheque can be release
to the retirees a lot of trekking, transportation, energy wasted, plead have
taken place thereby the benefit derived the entitlement would be low due to the
ups and down done in the process and this by implication result to death.
The
researcher have observed in the Kogi State Pensions Board which is the case
study, identified the above problems and have come up with valuable suggestions
solution to the problems in existence.
1.3
OBJECTIVES OF THE STUDY
The aims and
objectives of this study on the problems and solution of pension and gratuity
administration in Nigeria (A case study of Kogi State Pension Board) are as
follows:
i. To
examine the administration of pension and gratuity in Kogi State.
ii. To
examine the various system used in the payment of pension and identifying the
best method to be used.
iii.
Identify the problems encountered and the defects on the system of disbursement
of pension and gratuity in Nigeria.
iv. To
suggest means of improving the pension and gratuity scheme in Kogi State.
1.4
SIGNIFICANCE OF THE STUDY
The
significance of this study can be seen from the following:
Project
writing is one of the criteria for the award of Higher National Diploma
strictly by the Academic Board of Kogi State Polytechnic and this study has
broaden the researcher’s knowledge and equally developed her potentials and has
revealed by professionalism by stimulating her to further studies.
The study
will enhance high productivity amongst workers in public sector because some solution
to some problems in the administration of pension and gratuity have been
suggested in this write-up if applied, it will improve the living standard of
the society and enable workers to have reasonable plans for future
understandings.
The
recommendation given will be useful to who, which can enhance a great
improvement in preparation of retirement benefits and other financial matters.
1.5 RESEARCH
QUESTIONS
1. How can
pension and gratuity be administered in Kogi State?
2. What are
the various system used in the payment of pension and identifying the best
method to be used?
3. What are
the problems encountered in the system of disbursement of pension and gratuity
in Nigeria?
1.6 RESEARCH
HYPOTHESIS
There are
two types of hypothesis, the null (Ho) hypothesis and the alternative (Hi)
hypothesis.
However, at
this stage of the research only the null hypothesis of the study are stated as
shows below.
Ho: There is
no administration of pension and gratuity in Kogi State
Hi: There is
administration of Pension and gratuity can be administered in Kogi State.
Ho: The
scheme of pension and gratuity cannot be improved in Kogi State
Hi: The
scheme of pension and gratuity can be improved in Kogi State.
1.7 SCOPE
AND LIMITATIONS TO THE STUDY
The scope of
this study is restricted to Kogi State Pension Board but any conclusion arrive
at shall be used to infer the pension board.
This project
will be restricted to the period of 2004 to 2014.
LIMITATIONS
1. The time
constraints did not allow the researcher to visit the library very often and
also the pressure of official and class work had restricted the researcher from
carrying out further researcher work.
2. The
inaccessibility to vital document like personal file, subject file and some
important information restricted the researcher from going deep into the root
at any research work.
3. Another
limitations is inadequate material in the library also limited this project
writing.
However, the
researcher has overcome the above limitations by consulting the internet for
relevant information to this project work. Also, the researcher have visited
other public library for more information and materials relevant to this study
1.9
DEFINITION OF TERMS Administration:
This is the
management of both human and material resources in order to achieve
organizational set goals or objective.
Management:
This is the act of putting together of both human and material resources for
the attainment of a particular set organizational goal.
Employment:
This has to
do with work that you do in other to earn money for a living.
Retirement:
This is the act of retiring from job, or the time when one stop working.
Retirement
Plant:
A system for
saving money for your retirement, especially if you will not receive money from
your employers
Plan:
Is a
proposal or an intention for doing or achieving something.
Efficiency:
This has to
do with working productively with no waste of money or effort.
Effectiveness:
This means
producing an intended result
Benefit:
This is the
final entitlement or a payment made by the state to someone in need.
Retiree:
This can be
described as someone who has stopped working, usually because of their age.
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