THE ROLE OF PENSION FUND ADMINISTRATOR'S IN MOTIVATING NIGERIAN EMPLOYEES
THE ROLE OF PENSION FUND ADMINISTRATOR'S IN MOTIVATING NIGERIAN EMPLOYEES

Summary/Abstract: Pension paid by government or company to employees motivates them to work as expected but on the other hand Pension Fund Administration’s (PFA) have basis roles to play to secure their retirement funds. This study tends to identify the effective roles of Pension Fund Administrator's (PFA), the challenges affecting their roles and the possible solution to the challenges affecting the roles of Pension Fund Administrator's (PFA) in motivating employees in Nigeria using Leadway Pensure Assurance Company as a study. The research design used in this study was a descriptive research design. The primary data was generated through the field survey using structured questionnaire as a major research instrument. The sampling for study was formulated using Taro Yamane sampling formulae. At this junction, multi-stage sampling technique is used to select sample size of the study. Quantitative data collected were analyzed, presented and interpreted using descriptive statistics. The research statistics used for this study is the Pearson correlation analysis and its method coefficient was used to test the level of significance. This will be tested at a significance level of 5% or 0.05 with the aid of Statistical Package for Social Sciences (SPSS). This analysis also shows Pearson correlation to be 0.186 which implies that there is a weak positive relationship between effective roles of Pension Fund Administrator’s (PFA) and employees’ motivation. The study finds out that Leadway Assurance Company contributes to employees Retirement Savings Account (RSA) monthly/quarterly for the purpose of retirement relief, also keeps the retiree informed on annual rate of returns on the Pension Funds and makes pension fund available for employee after retirement. The recommendation given is that Leadway Pensure should encourage contributory pension scheme among employees before their retirement, also PFAs should adopt more sure suitable way to communicate how the pension scheme benefits employees even with unfavorable working condition and appropriate information technology should be used to training and encourage employees on pension scheme.

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