This study seek to evaluate whether or not the contributory pension scheme has an impact on employee retirement benefit of quoted firms in Nigeria: to determine the relationship that exist between the impact of the contributory pension scheme on employee retirement benefit and standard of living in Nigeria.the study also assessed the relationship between pension cost and independent variable: total assets and profitability of quoted firms in Nigeria.
TABLE OF CONTENT
CHAPTER ONE: INTRODUCTION
1.0 Background of the Study 1
1.1 Statement of Problem 5
1.2 Objectives of the Study 7
1.3 Research Questions 7
1.4 Statement Research Hypotheses 7
1.5 Scope of the Study 8
1.6 Significance of the Study 8
1.7 Definition of Terms 9
References
CHAPTER TWO: REVIEW OF RELATED LITERATURE
2.0 Pension Scheme in Nigeria: An Overview 14
2.1 Prior Studies on Compliance With Pension Standards 16
2.1.1 Concept of Pension Plans 18
2.1.2 Objectives of Pension Plans 21
2.1.3 Determination of Retirement Cost 22
2.1.4 Pension Costs Recognition and Future Pension Liabilities 23
2.1.5 Concept of Assets 24
2.1.6 The Concepts of Profits 25
2.2 The Emergence of Pension Reform Act 2004 25
2.3 The Objectives of the New Pension Reform 27
8 2.4 Elements of the New Contributory Pension Scheme 27
2.5 Institutional Framework 29
2.5.1 The National Pension Commission (PenCom) 30
2.5.2 Pension Fund Administrators and Pension Fund Custodians 30
2.6 Investment of Pension Assets under the New Contributory Pension Scheme 31
2.6.1 The Investment Guidelines 32
2.6.2 The Assets Allocation Structures by National Pension Commission (PenCom) 33
2.6.3 Risk Management Under the New Contributory Pension Scheme 35
2.6.4 Identifiable Risks 37
2.6.5 Pension Risk Management Operation Process 42
2.7 The Benefits of the Contributory Pension Scheme 43
2.8 The Implications of the Contributory Pension Scheme on Nigerian Workers 45
2.9 The Challenges of the Contributory Pension Scheme in Nigeria 46
References
CHAPTER THREE: RESEARCH METHODOLOGY
3.0 Introduction 53
3.1 Research Design 53
3.2 Sample Size and Sampling Technique 54
3.3 Nature and Sources of Data Collection 54
3.4 Techniques of Data Analysis 55
References
CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS
4.0 Introduction 61
4.1 Data Presentation and Analysis of The Student T-Test Result 61
4.2 Data Presentation and Analysis of Pearson Correlation Coefficient Result 66
4.3 Data Presentation and Analysis of Regression 69
4.4 Research Findings 76
9 References
CHAPTER FIVE: SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATIONS
5.0 Summary of Findings 80
5.1 Conclusions 82
5.2 Recommendations 84
References
Bibliography
Appendix I: SPSS Student Test Results
Appendix II: SPSS Results of Correlation Coefficient
Appendix III: SPSS Aggregate Regression Results
Appendix IV: Criteria for Grading Application of Requirements of Statement of Accounting Standards 8 (SAS 8) by Firms in Nigeria
Appendix V: Summary of Comparison of SAS 8 (Level of Compliance) with Annual Reports and Accounts of Quoted Firms, 1998 – 2007
Appendix VI: Aggregate Average Level of Compliance with SAS 8 for 1998 – 2004 (Before Pension Reform Act, 2004) (After Pension Reform Act, 2004)
LIST OF TABLES
Table 2.1: Pension Investment Guidelines 34
Table 4.1: Requirements of Statement of Accounting Standard 8 (SAS 8) 62
Table 4.2: SAS 8 Compliance Index 63
Table 4.3: The Student’s T-Test Data 64
Table 4.4: Student’s T-Test Result 65
Table 4.5: SAS 8 Compliance Index 67
Table 4.6: Correlation Coefficient Data 68
Table 4.7: Pearson Moment Correlation Coefficient Results 68
Table 4.8: Pension Funding Disclosure in Relation to Total Assets and Profitability 70
Table 4.9: Aggregate Values of Pension Funding Disclosure in Relation to Total Assets and Profitability 73
Table 4.10: Aggregate Regression Analysis for Hypothesis 3 74
