International Journal of Research and Innovation in Social Science (IJRISS) |Volume VI, Issue IX, September 2022|ISSN 2454-6186
ADEKUNLE Ayobami Ademola
Institution of Affiliation: Department of General Education Studies, Adeleke University Ede, Osun State, Nigeria
Abstract: The effects of untimely pension payment on the well being of retired Civil Servants has posed a serious problem in Nigeria. Osun State has her own share of the series of complaints by the pensioners who are seeking justice over the unpleasant bottleneck experienced in the payment of their pension. The study examined the effects of untimely pension payment on the well being of retired Civil Servants in Osun State, Nigeria. Primary Data was used for the study. The Primary data was gathered through the use of questionnaires which were analyzed, while regression statistical tool was used to test the hypothesis formulated. 200 copies of questionnaires were administered, out of which 168 were used for the data analysis. The method of sampling technique used was purposive sampling technique which was administered on the retired Civil Servants at their monthly meeting. Simple linear regression analysis was used. The results of the three hypotheses tested revealed that significant relationship exists between time of payment role of pension personnel mode of pension contribution and the well being of retired Civil Servants. Thus the stated null hypotheses are rejected. The study concludes that correlation exists between untimely pension payment and the wellbeing of retired Civil Servants. The implication is that, as the Pension of retired Civil Servant is not paid on time, the well being of the retired Civil Servants decreases. The study then recommends that Osun State Government in Nigeria, should pay the entitlement of the retired Civil Servants as at and when due.
Keywords: Retired Civil Servants, Untimely Pension, Contributory Pension Scheme, Well being, Osun State.
I. INTRODUCTION
The aim of every worker who is serving in salaried employment is to retire from the service or from the organization one day. Retirement is the end of the road of every service after a worker has served meritoriously for a given period of time, or in some cases, the worker has reached the certain age limits in his or her career. Thus, the next step after retirement is for a worker to collect his pension and gratuity. Pension in this sense is like a retirement benefit, which is usually based on the length of service/employment and amount of wages and salaries of the Pensioner. Pension can also be regarded as a deferred payment for services rendered. The aim of making arrangement for pension is to serve as an upkeep for the Pensioner at the old age.