THIS IS A STUDY ON PROBLEMS OF RETIREMENT IN THE ENUGU STATE CIVIL SERVICE: A CASE STUDY OF ENUGU STATE UNIVERSAL BASIC EDUCATION BOARD. THIS STUDY IS AN ATTEMPT TO HELP THE ENUGU STATE CIVIL SERVICE RETIRING EMPLOYEES TO PREPARE FOR LIFE AFTER RETIREMENT. THE WORK INTENDS TO HELP THE RETIRING EMPLOYEES TO SET THEIR PRIORITIES RIGHT AND TO EASILY DEFINE THEIR LIVES AFTER RETIREMENT. IN ORDER TO AVOID THE HIGH DEGREE OF PENURY SOME RETIREES LIVE IN AFTER SEVERAL YEARS OF SERVICE.THIS STUDY REALLY EXPOSES THE IMPORTANCE OF RETIREMENT GUIDANCE AND COUNSELLING, VARIOUS ISSUES A RETIRING EMPLOYEE MUST ADDRESS WHILE HE/SHE IS STILL IN ACTIVE SERVICE, WHAT THE EMPLOYERS SHOULD DO IN ORDER TO HELP THE PROSPECTIVE RETIREES TO AS A DEATH SENTENCE.

LIST OF TABLE

TABLE 1: There is poor administration of pension scheme.

TABLE 2: There is no proper record keeping in the Enugu State Universal Basic Education Board

TABLE 3: There is delay in payment of retirement benefit plans.

TABLE 4: Planning ahead of retirement period reduces post retirement problems.

TABLE OF CONTENTS

TITLE - - - - - - - - i

APPROVAL - - - - - - - ii

DEDICATION -- - - - - - - iii

ACKNOWLEDGEMENT - - - - - - iv

ABSTRACT - - - - - - - - vi

LIST OF TABLE - - - - - - - vii

TABLE OF CONTENTS - - - - - - viii

CHAPTER

1.0 INTRODUCTION - - - - - - 1

1.1 BACKGROUND OF THE STUDY- - 3

1.2 STATEMENT OF THE STUDY - - - 4

1.3 OBJECTIVE OF THE STUDY - - - 5

1.4 SIGNIFICANCE OF THE STUDY - - 7

1.5 HYPOTHESIS - - - - - - 8

1.6 SCOPE OF THE STUDY - - - - 9

1.7 DEFINITION OF TERMS - - - - 9

CHAPTER TWO

2.0 INTRODUCTION - - - - - 11

2.1 RETIREMENT - - - - - - 12

2.2 TYPES OF RETIREMENT - - - 14

2.3 ADVANTAGES AND DISADVANTAGES

OF MANDATORY RETIREMENT - - - 17

2.4 FLEXIBLE/VOLUNTORY RETIREMENT - 20

2.5 FORCEFUL RETIEMENT - - - - 23

2.6 REQUIREMENT FOR PROCESSING OF RETIREMENT BENEFITS - - - - 24

2.7 RETIREMENT PROBLEM OF EMPLOYEES IN NIGERIA - - - - - - - 27

2.8 SOLUTION TO RETIREMENT PROBLEMS IN NIGERIA - - - - - - - 29

2.9 SUMMARY OF LITERATURE REVIEW - 31

CHAPTER THREE

3.0 RESEARCH METHODOLOGY - - 33

3.1 BRIEF OUTLINE OF THE STUDY - - - 33

3.2 DESIGN OF THE STUDY - - - - 34

3.3 AREA OF THE STUDY - - - - 34

3.4 POPULATION OF THE STUDY - - - 34

3.5 SAMPLE OF THE STUDY- - - - 35

3.6 INSTRUMENT FOR DATA COLLECTION - 35

3.7 VALIDATION OF THE INSTRUMENT - 36

3.8 DISTRIBUTION AND RETRIVAL OF THE INSTRUMENT - - - - - - 36

3.9 METHOD OF DATA ANALYSIS- - - 37

CHAPTER FOUR

4.0 DATA PRESENTATION - - - - 38

4.1 DATA ANALYSIS - - - - - 38

4.2 FINDINGS - - - - - - 42

CHAPTER FIVE

5.0 SUMMARY OF FINDINGS- - - 44

5.1 CONCLUSIONS - - - - - 46

5.2 RECOMMENDATIONS - - - - 47

5.3 LIMITATIONS OF THE STUDY - - - 49

5.4 SUGGESTIONS FOR FURTHER STUDY - 51

REFERENCES - - - - - 52

APPENDIX - - - - - - 54

QUESTIONNAIRE - - - - - 55

CHAPTER ONE

1.0 INTRODUCTION

Members of working class are individuals who are deeply engaged in paid employment mainly in work place and organizations not their own. These places could be in the private or public sectors of the economy. These workers are remunerated on fixed wages or salaries instead of on commission or profit basis. They open the better part of their active life working for the growth, development and expansion of their organization. For their contributions to the progress for these organizations they receive virtually nothing in return other than salaries and/or wages. Salaries and wages are prices paid for their training, qualifications, experiences, risk taking, productivity and their other x-efficiency contributions to the overall development of their areas of employment as well as other sectors combined. However, they are not appropriately compensated for their contributions and based on this, they cannot be able to invest in other business ventures that will yield profits to them for the rainy days during the post retirement period and so, they face a lot of problems.

Retirement is an inevitable fact of life every employee must look forward to experience, it further confirms that whatever that has a beginning has an end. But due to unpreparedness and lack of adequate compensation on the part of the employers, there abound problems in the post retirement period and these made many retiring employees see retirement as the ultimate end of their careers and lives. It is phenomenal in Nigeria that there are army of retired government workers and teachers who have not received their retirement benefits after five (5) years. These people are made to undergo excruciating processes of verification and revivification and in the end some of them die without even collecting any benefit.

1.1BACKGROUND OF THE STUDY

The federal Government in 1988 through Decree N0.31 established National Primary Education Board, and the State Government through Edict established the State Primary Education Board and they manage the affairs of tutorial and non-tutorial staff of primary school by paying them salaries. These establishments were undergoing some reforms in their administration until 2004.

However, in 2004 there was another remarkable event and this was the establishment of Uniform Contributory Pension Scheme for both the public and private sectors throughout Nigeria. Contributory pension scheme is in vogue now where government contribute seven and half percent (7¹/₂%) of the employee’s basic salary on a monthly basis while employees shall contribute the same.

In this regard, the research work intends to x-ray the problems facing retirees, causes effects and possible solution to the problems of retirement in Enugu State Civil Service.

1.2STATEMENT OF THE PROBLEM

There were many cases of frustration, economic hardship, stress meted to the retirees which in most times resulted to untimely deaths while in pursuit of their retirement benefits. This constitutes a lot of problems in the management of their homes and the society at large. It therefore, becomes necessary to examine the problems which under assumptions might be responsible for these.

Looking at the situation of this country one can broadly say that the management is inability to prepare the prospective retirees for retirement while in service have contributed immensely to both physical and emotional stress. Some people’s opinion hold that the problem should be tagged inaccurate data while some are of the view that it was as a result of non implementation of retirement benefits.