The Impact of 2004 Pension Reform Act on Productivity in Nigeria: A Study of Federal Polytechnic, Nasarawa 2004-2017
Publication Date: 22/01/2019
Author(s): Ahmed Usman Egye, Abubakar Abass Uthman.
Volume/Issue: Volume 1 , Issue 1 (2019)
Abstract:
This study critically examines the justification the reform of the pension industry in Nigeria and its impact on productivity in Federal Polytechnic, Nasarawa. The methodology adopted to achieve the objective was through primary and secondary collection of data. The researchers administered questionnaires to 382 respondents constituting the sample size of the study. The data generated were presented and analyzed using frequency and tables. Abraham Maslows hierarchy of needs theory was used as theoretical justification for the study. Majority of the respondents agreed that the 2004 pension reform has not influenced productivity in Federal Polytechnic, Nasarawa and that the implementation of the reform is bedeviled by so many challenges. Based on the findings, the study recommends that government should put in place a mechanism for effective implementation of the new pension scheme with a view to improving the performance and productivity of public servants in Nigeria. Secondly, government and civil society organizations should serve as watch dog on the activities in the pension industry to avoid problems that have to do with irregular payment to pensioners.
