AN EXAMINATION OF THE COST IMPLICATIONS OF PENSION REFORMS IN NIGERIAN PUBLIC SECTOR




ABSTRACT
Pension scheme had been undergoing
reform in most transition economies, which is also a key component of the
IMF/world Bank Structural reform programmed for developing economic. There
would be a sudden change in the relation between citizens and those
administering this welfare security system in term of the gains provided and
its financing, due to the change in the structure of the economy in countries
where the state is expected to provide welfare assistance “from cradle to
grave” However, pension scheme in transition economics were used to argument
and all eviate the effect of output loss on certain strata of the population
and the rasied income inequality that pervaded the economies.
          In
Nigeria
with much emphasis on the public service of the federation using Z – Score
statistical method. The project review some important provisions of the new
pensions reform acts as well as well as the ICT requirement for the players in
the pension management industry. The research project also review some
important and relevant literatures on the topic. Moreover, in the research
methodology sampling frame was discussed while the sampling techniques were
seriously analysed. The methods of collecting data are (1) Primary source
which  include personal interview and
questionnaire method. (2)The secondary method of collecting data are through
textbooks, documentary Journals, newspaper, internet and other relevant
materials.
In view of the above, the descriptive
and statistical methods were used because they are considered most appropriate
for the study.
Based on the conclusion made it is
recommended that Government should as a matter of policy make sure that those
firms to be entrusted with pension fund are competent and have the dexterity to
do the job without fears or favour , and their selection should not be
politicized.



TABLE OF CONTENTS
                                                                                                  Page
Title                                                                                             i
Certification                                                                                 iii
Dedication                                                                                   iv
Acknowledgements                                                                      v
Abstract                                                                                       vii
Table of Contents                                                                             ix
CHAPTER ONE
1.0     Introduction                                                                       1
1.1     Background to
the Study                                                    1
1.2     Statement
of the Problem                                                   2
1.3     Objectives
of the Study                                                      3
1.4     Significance
of the Study                                                   3
1.5     The
Research Questions/Research Hypothesis                    4
1.6     Research
Methodology                                                       5
1.7     Scope
and Limitation of the Study                                     6
1.8     Definition
of Terms                                                           6
1.9     Organization
of the Study                                                  8
          End
of Chapter References                                                10
CHAPTER TWO
2.0          
Literature
Review                                                               11
2.1     Research to
Current Literature                                           11
2.2     Conceptual
Explanation                                                     12
2.3     Pension
Project and their Assumption                                13
2.4     Critiques
of the Nigeria’s
New Pension Regime                 14
2.5     Objectives
of the New Pension Reform Act 2004               16
2.6     Exemption
from the New Pension Scheme                        16
2.7     National
Pension Commission (PENCOM)                        19
2.8     How
Pension Funds are to be Invested                              23
2,9     Challenges
of the New Pension Scheme                             24
2.10    Conclusion
                                                                       25
End of Chapter References                                                26
CHAPTER THREE
3.0     Research
Methodology                                                       27
3.1     Research
Focus                                                                  27
3.2     Research
Instruments                                                         27
3.3     Restatement
of Research Questions/Hypotheses                 28
3.4          
Description
of the Population and
Sample of the Study                                                           29
3.5     Sources
of Data Collection                                                 30
3.6     Method
of Data Analysis and Description of Tools of
          Analysis                                                                             30
3.7     Hypothesis
Testing                                                             32
End of Chapter References                                                35
CHAPTER FOUR
4.0    
Data Analysis, Interpretation and
Discussion of Analysis                                                       35
4.1     Interpretation
of Items                                                       35
4.2          
Presentation
Data                                                               36
4.3     Analysis
of Tables                                                             39
4.4     Test
of Hypotheses                                                   47
4.5     Discussion
of Result                                                          54
End of Chapter References                                                56



CHAPTER FIVE          
5.0     Summary, Conclusion, Recommendations
and Suggestion for Further Studies                                    57
5.1     Summary
of the Findings                                                   57
5.2     Conclusion
                                                                       60
5.3     Recommendations
                                                            61     
5.4     Suggestion
for Further Studies                                           63
          End
of Chapter References                                                64
Bibliography                                                                      65
Appendix                                                                           67
                           
                            CHAPTER
ONE
1.0     INTRODUCTION        

          Around
the world, pension system occupied a strategic place. The idea of pension
itself as been with man since the time of creation. As the society keep on
changing , the scope ,form and content of pension itself was changing like
every part of human endeavours Nigeria
is not an exception when it come to the changing in the tre

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