PENSION MANAGEMENT AND EMPLOYEE PRODUCTIVITY IN ANAMBRA STATE PUBLIC SERVICE – A STUDY OF IDEMILI NORTH LOCAL GOVERNMENT COUNCIL OGIDI 2006 – 2014

Abstract

This research work was carried out with main purpose of ascertaining the effect of pension management on employee productivity using Idemili North Local Government Council as a case study (2006 – 2014). Survey research design was adopted in carrying out this research work and the primary data for this study were obtained through questionnaire and observation while the secondary data were obtained from published journals, textbooks, paper presentations, newspapers and internet materials. The population of the study was 1212, made up of employees and retirees of Idemili North Local Government Council. The sample size of the study was determined using the Taro Yamane formular at 0.05 significance level. The returned questionnaires were tabulated and analyzed using simple percentage while chi-square was used to test the formulated hypotheses. The study revealed that pension management affects employees’ commitment to achieving organizational goal, employee productivity and employee labour turnover. Based on the findings, the study recommends that employees should be freely allowed to choose their Pension Fund Administrators as it will make them feel in-charge of the management of their pensions and in turn make them more committed to achieving organizational goal, Pension fund deductions should be remitted to the Pension Fund Administrators timely and consistently as it will make the employees believe that their employers are concern about their well-being after retirement, employers, Pension Fund Administrators and Custodians should always comply with Pension Reform Act and that accountability of pension fund should at all times be made visible to the employees.