CONTRIBUTORY PENSION SCHEME: A BLESSING OR CURSE FOR EMPLOYED BUSINESS EDUCATORS IN SOUTH-WEST, NIGERIA

Abstract

The study was conducted to establish whether Contributory Pension Scheme is preferred by employed business educators in the South-west, Nigeria. The design used for the study is descriptive survey. The population of the study consisted of all the 200 business educators lecturing in business education department in all the 12 government owned colleges of education in South-West, Nigeria. The instrument used to collect data for the study was a developed questionnaire and validated by three senior business education lecturers in the department of business and entrepreneurship education in the faculty of education, Kwara State University, Malate, Kwara, who read through the items of the instrument and made corrections on few language and phrasing errors identified. The research questions were answered through frequency counts, mean and standard deviation while the hypotheses were tested using t-test at 0.05 level of significance. The study affirmed that business educators in South-West, Nigeria preferred contributory pension scheme as their choice of pension scheme because is provisions would benefit them a lot. The study concluded and recommended that since contributory pension scheme is the preferred choice of pension scheme by a category of workers in the South-west, Nigeria, all hands must be on deck to ensure   its proper implementation so that the goal for which it is meant to achieve can be easily attained and sustained.

 Keywords. Contributory Pension Scheme, Blessing, Curse, Employment, Business Educators