The new pension scheme and workers productivity in nigerian universities: a case study of the university of nigeria, nsukka.(2004-date)

Project Abstract

The research project focuses on analyzing the impact of the new pension scheme on workers' productivity in Nigerian universities, using the University of Nigeria, Nsukka as a case study from 2004 to the present. The introduction of the new pension scheme in Nigeria marked a significant shift from the previous system and brought about changes in the retirement benefits of university workers. This study aims to examine how this transition has influenced the productivity levels of workers in the academic environment, particularly at the University of Nigeria, Nsukka. The methodology employed in this research involves a comprehensive review of relevant literature on pension schemes, workers' productivity, and the Nigerian university system. Additionally, primary data will be collected through surveys and interviews conducted with staff members at the University of Nigeria, Nsukka. The research will focus on gathering insights into the workers' perceptions of the new pension scheme and its impact on their motivation, job satisfaction, and overall productivity. Through the analysis of data collected from surveys and interviews, this study seeks to identify any correlations between the implementation of the new pension scheme and changes in workers' productivity levels. The findings will be analyzed using both qualitative and quantitative methods to provide a comprehensive understanding of the relationship between the pension scheme and productivity among university workers. The significance of this research lies in its potential to contribute to the existing literature on pension schemes and workers' productivity, particularly in the context of Nigerian universities. By focusing on a specific case study at the University of Nigeria, Nsukka, this study aims to provide insights that can inform policy decisions and management practices in the higher education sector. Understanding how the new pension scheme has influenced workers' productivity can help university administrators and policymakers in Nigeria make informed decisions to enhance employee engagement and performance. In conclusion, this research project will shed light on the relationship between the new pension scheme and workers' productivity in Nigerian universities, with a specific focus on the University of Nigeria, Nsukka. The findings of this study have the potential to offer valuable insights for improving pension policies and management practices in the higher education sector, ultimately contributing to a more productive and motivated workforce.

Project Overview

<p> Determined to solve the numerous problems that are associated with the unfunded defined pension system in the country, the federal government of Nigeria in June 2004 carried out a range of comprehensive and fundamental reform in the system of pension and gratuity management and administration as a formidable measure aimed at alleviating the pains and suffering of the retired elder statesmen in the country; whom after rendering patriotic services to their fatherland waits endlessly for their pension and gratuity emoluments to be paid. Consequent upon which staffs and workers of pensionable jobs usually either use the time meant for office work to pursue their private pecuniary interests or discharge their duties perfunctorily, which results in low rate of productivity in the achievement of the corporate goals of the establishment. This study therefore, examines the impact of the new pension scheme on workers productivity in the Nigerian Universities, using the University of Nigeria, Nsukka as case study. The crux of the study however, is to interrogate the prospects of the contributory pension scheme in boosting the morale and motivation of workers towards their duties. On this account we examined the various ways through which the new pension scheme is different from the old system. We hypothesized that the new pension scheme has increased workers productivity in the university as well as its management and administration. The Eastonian theory of system analysis was used as our framework of analysis. We argued that for the university of Nigeria to achieve its corporate and institutional goals while at the same time avoiding systemic breakdown that all parts of the system must be alive to their responsibilities both the administration and the workers. In this connection, we posit that if the workers are adequately catered for especially in their old age that they will put in their best in their job execution. The study make use of observation method of primary sources of questionnaire and interview, in addition to textbooks, journals, magazines, conference papers, official documents and Internet sources where necessary. It also adopted the content analysis technique of quantitative method as our method of data analysis. The study discovered that the introduction of the new pension scheme in 2004 has led to an increase in the workers rate of productivity in the University of Nigeria, Nsukka. This is made possible by the fact that the new contributory pension scheme has been able to tackle most of the shortcomings of the old system. Moreover, the study also revealed that there exist a fundamental departure in the system of management and administration of the new pension scheme from the old one, which has brought about resurgence of effectiveness and efficiency in the manner of payment of retirement benefits. Drawing from the above findings, the study among other things recommends that there is the need for public enlightenment campaigns on the merits of a contributory pension scheme, with a view to acquaint the workers, of its numerous benefits in other to further help stimulate their perception of safe retirement as well as, that the federal government and the Pension Commission must ensure effective and constant monitoring, supervision and enforcement of the provisions of the Pension Act, 2004 to avoid relapse on the side of the policy implementation organs. Thus the new pension scheme is actually a panacea to the problem of pension administration in the country. <br></p>