PERCEIVED INFLUENCE OF CONTRIBUTORY PENSION SCHEME ON PRODUCTIVITY AND JOB-SATISFACTION OF BUSINESS EDUCATORS

Abstract

The Abstract of this study gave summary of all processes and steps undergone in the conduct of the study which included the research design, the study population, the instrument used, statistical tool used for data analysis, the study findings and recommendations made. The study was conducted to determine the influence of contributory pension scheme on productivity and job-satisfaction of business educators in colleges of education in the south-west, Nigeria. The study has three specific purposes, three research questions and three formulated null hypotheses. Descriptive survey research design was adopted in the study. The population of the study consisted of all business educators who are academic staff in all the colleges of education in the south-west, Nigeria which made it a censor study. The instrument used in the study to collect data was a four-rating scale questionnaire known as Contributory Pension Scheme Questionnaire (CONPESNIQ), containing 43 structured items emanated from research questions. Half-split method of instrument reliability was adopted and tested through the use of descriptive statistical tool of spear-man rank order correlation coefficient (r) for research questions cluster A, B, and C, whose analysis showed correlation coefficient of 0.86,0.84, and 0.88 respectively. Research questions were answered with the use of descriptive statistical tool of frequent count, mean and standard deviation while the hypotheses were tested through the application of influential statistical tool of t-test. Hence, the highest mean value and standard deviation value respectively for the research questions were RQ1: 2.21 and 0.791, RQ2: 2.00 and 0.646, and RQ3:1.76 and 0.731, while the t-test and P values for the tested null hypotheses respectively were, H_01: 0.62 and 1.96, Ho_2:1.16 and 1.96, and H_o3:0.40 and 1.96. The result of the analysis showed that Contributory Pension Scheme had significant influence on business educators' productivity and job satisfaction and that business educators in colleges of education in South-west, Nigeria preferred contributory pension scheme to non-contributory one. The study recommended among others that Efforts should be made by all stakeholders to ensure effective implementation of contributory pension scheme for further good result and economic contribution to the scheme and that Borrowing of contributory pension funds by government for whatever reason should be opposed and stopped by all stakeholders. The study concluded that contributory pension scheme is a strong stimulus that has great influence on business educators ‘productivity and job-satisfaction and should be handled with care to achieve retirement target