PENSION FUND ACCOUNTING IN PUBLIC SERVICE (A CASE STUDY OF MICHAEL OKP ARA UNIVERSITY OF AGRICULTURE UMUDIKE)

EZEKUGOBE CHINYERE NW ANNEKA MOUAU I 03 / 3676 | 79 pages (14535 words) | Projects

ABSTRACT

 The  main   aim  of  this  research   is to  find  out  the  problem   militating   against  the effective  ad efficient  running  of pension  fund  un public  sector.  On the other  hand,  · to  enhance   the  effectiveness    of  the  National   pension   Commission    toward  there jobs  in recent  years.  The fact  that  some  factor  impeded   the administration   of the old  pension   fund  scheme   such  as  unfunded   aspect  of the  scheme  has  made  the Nigerian   Government   to have  accumulated   pension   liabilities.   Pension  fund  has to be accounted  for,  and for this purpose  proper  books  or records  of account  have to keep  by government,  Pension  Fund.  Administrators,    Pension  Asset  custodian, Employers,   and  the pension  desk  officers.   The population   of this research   is the entire  staff  of  Michael  Okpara   University of  agriculture   Umudike,   which  has  a population   of about  1100.  From  this population,  a sample  of 76 staff  was taken  at this random  from  eight  colleges,  Registry  and  Bursary  Department.   The data  for this  research   was  sourced   through   primary and  secondary   sources   of data.  The primary   data  through   questionnaire   distributed   to the  staff  of the  university   and was analyzed   using  the chi-square   statistic  (X2  ).   Based  on the hypothesis   tested, it  was  observed    that,   documentations     has  being  justified  as  the  problem   of pension  payment  that  requires  a greater  attention,  the retirement   savings  account of the   pensioner   accts  like  a savings  bank  account  etc.  Therefore,  Nigeria   stand to benefit  from  the  new  pension   scheme  as it addresses   the  pension   liability  by  stemming   its further  growth  and  provides  a platform   for addressing   this  liability. The  scheme  also  imposes  fiscal  discipline   on the nation  is a solid  foundation   for economic  development.


TABLE  OF CONTENTS

Project Assessment

Title   - 

Declaration - 

Certification•

 Dedication• 

Acknowledgement• 

Table of Contents -

 List of Tables 

Abstract -


1.1     Background Information -                                                  -1

1.2 Statement of the problem-

1.3 Objectives of the study-  -

1.4 Research Questions-

1.5 Research Hypothesis-

1.6 Justification of the study--

1. 7 Limitation of the study

1.8 Brief profile of Michael Okpara University of Agriculture Umudike


CHAPTER TWO

LITERATURE REVIEW-                                                         -11

2.1        Historical Review -                                                             -11

2.2      Major Law Governing Pension- -                                        -12

2.3    . Circumstances under which Pension may be granted -      -16

2.4     Financial Provision-                                                             -17

2.5      Payment of Pension -                                                           -18

2.6      Computation of Retirement Benefits - -                             -19

2.7     Audit objectives in pension payment-  -                             -20

2.8     Pension Fund Administrators and Custodians -                 -23

2.9     The National Pension Commission-                                    -24

2.10     Investment of Pension Fund                                                 25

2.1 l   Safeguards for Pension Funds   -                                         26

2.12     supervision and examination                                                28 


CHAPTER THREE

RESEARCH METHODOLOGY -   -                                          30

3. l Introduction- 30

3 .2 Research  design-     - 30

3 .3 Scope of the study- 30

3 .4 Population  of the study- 31

3.5 Sample and Sampling  Techniques 31

3.6 Data Collection  Procedure- 3 \

3.7 Data Analysis  Procedure-- 33

3.8 lnference/ Remarks 33



CHAPTER JiOUR

DATA PRESENTATION,  DISCUSSION   AND ANALYSIS        35

4.1 Introduction 35

4.2 Analysis  and Presentation of Primary  Data 35

4.3 Hypothesis  Testing  - 40


CHAPTER FIVE

SUMMARY,   CONCWSION    AND RECOMMENDATIONS   51

5 .1       Summary                                                                                        51

5.2      Conclusion--                                                                                 -51

5.3        Recommendation -                                                                    - 53

5.4       Suggestions  for further research-                                                53


BIBILOGRAPHY 

APPENDIX.  A: 

Questionnaire

B:  First schedule  pension  reform  Acts 2004 No.  2A 64

C:  Chi-  Square Table\

GLOSSARY

LIST  OF TABLES

Table4.2     Questionnaire    Distributions  /Collection   Chatt

Table 4.2.J Response  Presentation Table 4.2.2 Response  Presentation Table 4.2.3  Response  Presentations

Table 4.3. l  Calculation  of Expected  frequency

Table 4.3.2 Calculation    of Expected  frequency


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APA

EZEKUGOBE CHINYERE, 3 (2020). PENSION FUND ACCOUNTING IN PUBLIC SERVICE (A CASE STUDY OF MICHAEL OKP ARA UNIVERSITY OF AGRICULTURE UMUDIKE). Mouau.afribary.org: Retrieved Oct 30, 2024, from https://repository.mouau.edu.ng/work/view/pension-fund-accounting-in-public-service-a-case-study-of-michael-okp-ara-university-of-agriculture-umudike

MLA 8th

3676, EZEKUGOBE CHINYERE. "PENSION FUND ACCOUNTING IN PUBLIC SERVICE (A CASE STUDY OF MICHAEL OKP ARA UNIVERSITY OF AGRICULTURE UMUDIKE)" Mouau.afribary.org. Mouau.afribary.org, 25 Mar. 2020, https://repository.mouau.edu.ng/work/view/pension-fund-accounting-in-public-service-a-case-study-of-michael-okp-ara-university-of-agriculture-umudike. Accessed 30 Oct. 2024.

MLA7

3676, EZEKUGOBE CHINYERE. "PENSION FUND ACCOUNTING IN PUBLIC SERVICE (A CASE STUDY OF MICHAEL OKP ARA UNIVERSITY OF AGRICULTURE UMUDIKE)". Mouau.afribary.org, Mouau.afribary.org, 25 Mar. 2020. Web. 30 Oct. 2024. < https://repository.mouau.edu.ng/work/view/pension-fund-accounting-in-public-service-a-case-study-of-michael-okp-ara-university-of-agriculture-umudike >.

Chicago

3676, EZEKUGOBE CHINYERE. "PENSION FUND ACCOUNTING IN PUBLIC SERVICE (A CASE STUDY OF MICHAEL OKP ARA UNIVERSITY OF AGRICULTURE UMUDIKE)" Mouau.afribary.org (2020). Accessed 30 Oct. 2024. https://repository.mouau.edu.ng/work/view/pension-fund-accounting-in-public-service-a-case-study-of-michael-okp-ara-university-of-agriculture-umudike

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