Effects of Contributory Pensions Scheme on Workers’ Performance in Nigeria Universities

A Study of Federal Universities in South East, Nigeria

Abstract

This study is on the “Effect of Contributory Pensions Scheme on Workers’ Performance in Nigeria’s Universities; a study of Federal Universities in South East Nigeria”. The contributory pension scheme was meant to assist Nigerian workers to save in other to cater for their livelihood after retirement. The broad objective is to assess the effect of Contributory Pensions Scheme on Workers Performance. The specific objectives included; to determine the extent the Contributory Pension Scheme has enhanced workers attitude to work, to determine how Contributory Pension Scheme has helped to attract and retain qualified workers, to ascertain the effects of contributory pension scheme on workers morale and satisfaction. The study combined Co relational and Cross Sectional Survey research design. The population of the study is Six Thousand Eight Hundred and Fifty (6850) comprising of the staff of five Federal Universities in South East Nigeria. The sample size was determined using the Taro Yamane statistical formula. The data for the study was obtained from the respondents with the help of structured questionnaire and were tested with T-test statistical test. The study revealed that Contributory Pension Scheme has enhanced workers attitude to work, to determine how Contributory Pension Scheme has helped to attract and retain qualified workers Contributory Pension Scheme has helped to attract and retain qualified workers, Contributory pension scheme on workers morale and satisfaction This study recommended among others that Universities in Nigeria especially State and Private Universities should ensure adequate implementation and strict compliance with the provisions of Pensions Reform Act 2004.