AN EVALUATION OF THE ECONOMIC IMPACT OF THE NATIONAL PENSION

SCHEME ON NASSCORP’S RETIREES

2019 – 2021

SUBMITTED BY

ARCHIBALD S. GERGEH

B.Sc (MANAGEMENT)

ID#: 20297

A MASTER’S THESIS PROPOSAL SUBMITTED TO THE CUTTINGTON UNIVERSITY

SCHOOL OF GRADUATE AND PROFESSIONAL STUDIES IN PARTIAL

FULFILLMENT OF THE REQUIREMENTS FOR THE DEGREE OF MASTERS OF

PUBLIC ADMINISTRATION (MPA) IN PUBLIC SECTOR ADMINISTRATION

JANUARY, 2023
 DECLARATION BY RESEARCHER

I, Archibald S. Gergeh declare that this Master’s Thesis Proposal, An Evaluation of the Economic

Impact of the National Pension Scheme on NASSCORP’S Retirees of (2019-2021) is my original

work and has not been submitted for the award of a degree in any other University or College.

Signed: _________________________________ Date: _____________________

Archibald S. Gergeh

DECLARATION BY ADVISOR
This Master’s Thesis Proposal, An Evaluation of the Economic Impact of the National Pension

Scheme on NASSCORP’S Retirees of (2019-2021) was done under my supervision and has not

been submitted to the Cuttington University School of Graduate and Professional Studies for

examination with my approval as supervisor.

Advisor’s Signature: ___________________________ Date: _________________

Jerome N. J. Clarke, II. BA, MA, MPA

ACKNOWLEDGEMENT
In writing this research, I have become aware of the many ways in which my ideas about thesis

writing have been influenced by some resourceful persons. I cannot possibly thank them all

individually for their many contributions, however, a number of them deserve special mention. In

this regards, I am most grateful to God Almighty whose bountiful blessings and favor afforded me

the opportunity to enroll in the graduate program of the Cuttington University School of Graduate

and Professional Studies. Also, I am thankful to NASSCORP’s Management for the scholarship

granted for to further my studies. I am beholden to my parents, Mr. and Mrs. Julies N. Gergeh. Mr.

Winston Q. Jah, Mr. Joel Oscar Dickerson, Mrs. Isatu Ville Cheeks, Ms. Miata E. Beysolow, and

Ms. Myrtle J. Johnson for their moral and financial support to me during this tedious exercise. I am

particularly grateful to S. Dahnne Daniels (Rev.) for his mentorship and tutelage which

significantly impacted my academic experience. I appreciate your immense contributions to my

work.

My sincere appreciation goes to my beloved family for their prayers, love, and endless support

through this academic journey as well as my research work. Words cannot express all the

appreciation I owe you. I love you all.

Last but not least, I acknowledge my instructor and mentor, Dr. Solomon Jarpah, for your

commitment and the knowledge you imparted. I thank you very kindly, Dr. Jarpah.

TABLE OF CONTENTS
Declaration by Researcher I

Declaration by Advisor II

Acknowledgement III

CHAPTER FOUR: DATA PRESENTATION AND INTERPRETATION

4.1 Data Presentation and Analysis

4.2 Findings

4.3 Discussion of Key Findings

CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMNENDATION

5.1 Summary

5.2 Conclusion

5.3 Recommendation

Bibliography

CHAPTER FOUR: DATA PRESENTATION AND INTERPRETATION

4.1 Data Presentation and Analysis

A total of forty-four questionnaires were distributed among respondents of this study. All of the

forty-four (44) questionnaires were fully answered and returned. Below are tables and charts

containing the analysis of the data obtained.

Table 1: Gender of respondents

Gender Frequency Percentage

Male 25 56.88

Female 19 43.12

Total 44 100

Source: Researcher’s field Data, 2023

Table 1 shows the gender of the respondents, 25 out of the total of 44 respondents of constituting

56.88% of the respondents are male, while 19 out of the total of 44 respondents representing

43.12% of the respondents are female.

Graphical illustration of Table 1

 Gender

Male
43.12% Female
56.88%

Source: Researcher’s field Data, 2023

Table 2: Age range of respondents

Age range Frequency Total Percentage

Male Female

40 - 49 1 1 2 4.54

50 - 59 2 2 4 9.1

60 – above 22 16 38 86.36

Total 25 19 44 100

Source: Researcher’s field Data, 2023

Table 2 shows the age range of respondents, 2 out of the total of 44 respondents representing

4.54% are between age range 40-49; while 4 out of the 44 respondents constituting 9.1% is

between age range 50-59; and 38 out of the total of 44 respondents which is 86.36% are between

age range 60-above.

Graphical illustration of Table 2

Age Range

4.54
9.1%

40-49
50-59
60-above

86.36%

Source: Researcher’s field Data, 2023

Table 3: Marital Status of respondents

Marital status Frequency Total Percentage

Male Female

Married 11 11 22 50

Single 4 3 7 15.9

Divorce 10 5 15 34.1

Total 25 19 44 100

Source: Researcher’s field Data, 2023

Table 3 shows the marital status of respondents, 22 out of the total of 44 respondents representing

50% are married; while 7 out of the 44 respondents constituting 15.9% are single; and 15 out of

the total of 44 respondents which is 34.1% are divorce.

Graphical illustration of Table 3

Marital Status

34.1%
Married
Single
50% Divorce

15.9%

Source: Researcher’s field Data, 2023

Table 4: Educational Status of respondents

Educational status Frequency Total Percentage

Male Female

High School Graduate 7 4 11 25

 Associate degree 6 5 11 25

Bachelor degree 9 7 16 36.4

Master degree 3 3 6 13.6

Total 25 19 44 100

Source: Researcher’s field Data, 2023

Table 4 shows the marital status of respondents, 11 out of the total of 44 respondents representing

25% are high school graduates; while 16 out of the 44 respondents constituting 36.6% hold

Bachelor degree; and 11 out of the total of 44 respondents which is 25% hold Associate degree as

well as 6 out of the total of 44 respondents or 13.6% hold Master degree.

Graphical illustration of Table 4

Educational status

13.6
25
High School graduate
Associate degree
Bachelor degree
Master degree

36.4

25

Source: Researcher’s field Data, 2023

Table 5: Working experience of respondents

Educational status Frequency Total Percentage

 Male Female

1-5 years 0 0 0 0

6-10 years 6 5 11 25

11 -15 years 8 3 11 25

16 years and above 10 12 22 50

Total 25 19 44 100

Source: Researcher’s field Data, 2023

Table 5 shows the working experience of respondents, 11 out of the total of 44 respondents

representing 25% have working experience of 6-10 years; while another 11 out of the 44

respondents constituting 25% have working experience of 11 -15 years; and 22 out of the total of

44 respondents which is 50% have working experience of 16 years and above.

Graphical illustration of Table 5

 Working Experience

25

Six - Ten
50 Eleven - Fifteen
Sixteen and above

25

Source: Researcher’s field Data, 2023

Table 6: Responses concerning the economic impact of pension income on the livelihood of

retirees:

Response Frequency Total Percentage

Economic impact of Pension Male Female

Income on NASSCORP Retirees

Strongly Agree 5 3 8 18.2

Agree 5 5 10 22.7

Disagree 9 6 15 34.1

Strongly Disagree 6 5 11 25

Total 25 19 44 100

Source: Researcher’s field Data, 2023

Table 6 shows the responses of respondents when asked about the impact of pension income on the

livelihood of retirees, 8 out of the total of 44 respondents constituting 18.2% of the respondents

strongly agreed; while 10 out of the total of 44 respondents representing 22.7% of the respondents

agreed, whereas 15 out of the total of 44 respondents constituting 34.1% of the respondents

disagree, and 11 out of the total of 44 respondents which is 25% of the respondents strongly

disagree.

Graphical illustration of Table 6

25 18.2

Strongly agree
Agree
Disagree
22.7
Strongly disagree
34.1

Source: Researcher’s field Data, 2023

Table 7: Responses concerning the income from pension contributes to the payment for medical

care during the period under review:

Response Frequency Total Percentage

Pension contributes to Male Female

payment for medical care

Strongly Agree 2 2 4 9.1

Agree 6 4 10 22.7

Disagree 12 10 22 50
 Strongly Disagree 5 3 8 18.2

Total 25 19 44 100

Source: Researcher’s field Data, 2023

Table 7 shows the responses of respondents when asked about the income from pension contribute

to the payment of medical care, 4 out of the total of 44 respondents constituting 9.1% of the

respondents strongly agreed; while 10 out of the total of 44 respondents representing 22.7% of the

respondents agreed, whereas 22 out of the total of 44 respondents constituting 50% of the

respondents disagree, and 8 out of the total of 44 respondents which is 18.2% of the respondents

strongly disagree.

Graphical illustration of Table 7

18.2 9.1
22.7
Strongly agree
Agree
Disagree
Strongly disagree

50

Source: Researcher’s field Data, 2023

Table 8: Responses concerning the income from pension contributes to the payment for recreation
during the period under review:

Response Frequency Total Percentage

Pension contributes to payment for Male Female

recreation
 Strongly Agree 5 6 11 25

Agree 6 4 10 22.7

Disagree 14 9 23 52.3

Strongly Disagree 0 0 0 0

Total 25 19 44 100

Source: Researcher’s field Data, 2023

Table 8 shows the responses of the respondents when asked about the income from pension

contribute to the payment of recreation, 11 out of the total of 44 respondents constituting 25% of

the respondents strongly agreed; while 10 out of the total of 44 respondents representing 22.7% of

the respondents agreed, and 23 out of the total of 44 respondents or 52.3% of the respondents

disagree.

Graphical illustration of Table 8

25%

52.3% Strongly Agree

Agree
Disagree

22.7%

Source: Researcher’s field Data, 2023

Table 9: Responses concerning the income received from pension contributes to the payment for
child/children education:

Response Frequency Total Percentage

Pension contributes to the payment Male Female

for child/children education

Strongly Agree 4 3 7 15.9

Agree 6 4 10 22.7

Disagree 10 9 19 43.3

Strongly Disagree 5 3 8 18.1

Total 25 19 44 100

Source: Researcher’s field Data, 2023

Table 9 shows the responses of the respondents when asked about the income received from

pension contributes to the payment for child/children education, 7 out of the total of 44

respondents constituting 15.9% of the respondents strongly agreed; while 10 out of the total of 44

respondents representing 22.7% of the respondents agreed, whereas 19 out of the total of 44

respondents or 43.3% of the respondents disagree, and 8 out of total of 44 respondents which is

18.1% of the respondents strongly disagree.

Graphical illustration of Table 9

 18.1% 15.9%

Strongly Agree
Agree
22.7%
Disagree
Strongly disagree

43.3%

Source: Researcher’s field Data, 2023

Table 10 Responses concerning the income from pension affords retiree to start up a petty
business:

Response Frequency Total Percentage

Pension income affords retiree to Male Female

start up a petty business

Strongly Agree 4 3 7 15.9

Agree 8 3 11 25

Disagree 10 6 16 36.4

Strongly Disagree 3 7 10 22.7

Total 25 19 44 100

Source: Researcher’s field Data, 2023

Table 10 shows the responses of the respondents when asked about the income from pension

contribute to the purchasing of needed wearing, 7 out of the total of 44 respondents which is 15.9%

of the respondents strongly agreed; while 11 out of the total of 44 respondents representing 25% of

the respondents agreed, 16 out of the total of 44 respondents or 36.4% of the respondents disagree,

and 10 out of the total of 44 respondents which is 22.7% of the respondents strongly disagree.

Graphical illustration of Table 10

22.7% 15.9%

Strongly Agree
Agree
25% Disagree
Strongly Agree

36.4%

Source: Researcher’s field Data, 2022

Table 11: Responses concerning the income received from pension afford a minimum living
standard during the period under review:

Response Frequency Total Percentage

Pension afford a minimum living Male Female

standard

Strongly Agree 6 5 11 25

Agree 8 7 15 34.1

Disagree 11 7 18 40.9
 Strongly Disagree 0 0 0 0

Total 25 19 44 100

Source: Researcher’s field Data, 2023

Table 11 shows the responses of the respondents when asked about the income from pension

afford a minimum living standard, 11 out of the total of 44 respondents which is 25% of the

respondents strongly agreed; while 15 out of the total of 44 respondents representing 34.1% of the

respondents agreed, and 18 out of the total of 44 respondents or 40.9% of the respondents disagree.

Graphical illustration of Table 11

25%

40.9%

Strongly Agree
Agree
Disagree

34.1%

Source: Researcher’s field Data, 2023

Table 12: Responses concerning the income from pension contributes to the payment for house
rent:

Response Frequency Total Percentage

Pension contributes to the Male Female

payment for house rent

Strongly Agree 6 5 11 25
 Agree 11 7 18 40.9

Disagree 8 7 15 34.1

Strongly Disagree 0 0 0 0

Total 25 19 44 100

Source: Researcher’s field Data, 2023

Table 12 shows the responses of the respondents when asked about the income from pension

contributes to the payment for house rent, 11 out of the total of 44 respondents which is 25% of the

respondents strongly agreed; while 18 out of the total of 44 respondents representing 40.9% of the

respondents agreed, and 15 out of the total of 44 respondents or 34.1% of the respondents disagree.

Graphical illustration of Table 12

25%
34.1%

Strongly Agree
Agree
Disagree

40.9%

Source: Researcher’s field Data, 2023

Table 13 Responses concerning the income from pension afford travel expenses during the period
in review:

Response Frequency Total Percentage

 Pension afford travel Male Female
expenses

Strongly Agree 2 2 4 9.1

Agree 4 3 7 15.9

Disagree 13 9 22 50

Strongly Disagree 6 5 11 25

Total 25 12 44 100

Source: Researcher’s field Data, 2023

Table 13 shows the responses of the respondents when asked about the income from pension

afford travel expenses, 4 out of the total of 44 respondents which is 9.1% of the respondents

strongly agreed; while 7 out of the total of 44 respondents representing 15.9% of the respondents

agreed, 22 out of the total of 44 respondents or 50% of the respondents disagree, and 11 out of the

total of 44 respondents which is 25% of the respondents strongly disagree.

Graphical illustration of Table 13

 25% 9.1%
15.9%

Strongly Agree
Agree
Disagree
Strongly Agree

50%

Source: Researcher’s field Data, 2023

Table 14 Responses concerning the income from pension contribute to the purchasing for needed
wearing:

Response Frequency Total Percentage

Pension contributes to the payment Male Female

for needed wearing

Strongly Agree 4 3 7 15.9

Agree 8 3 11 25

Disagree 10 6 16 36.4

Strongly Disagree 3 7 10 22.7

Total 25 19 44 100

Source: Researcher’s field Data, 2023

Table 14 shows the responses of the respondents when asked about the income from pension

contribute to the purchasing of needed wearing, 7 out of the total of 44 respondents which is 15.9%

of the respondents strongly agreed; while 11 out of the total of 44 respondents representing 25% of

the respondents agreed, 16 out of the total of 44 respondents or 36.4% of the respondents disagree,

and 10 out of the total of 44 respondents which is 22.7% of the respondents strongly disagree.

Graphical illustration of Table 14

22.7% 15.9%

Strongly Agree
Agree
25% Disagree
Strongly Agree

36.4%

Source: Researcher’s field Data, 2023

Table 15: Responses concerning the income from pension helping in the purchasing of edible
provision (food, groceries, etc…):

Response Frequency Total Percentage

Pension helps in the purchasing of edible Male Female

provision

Strongly Agree 7 5 12 27.3

Agree 12 10 22 50

Disagree 6 4 10 22.7
 Strongly Disagree 0 0 0 0

Total 25 19 44 100

Source: Researcher’s field Data, 2023

Table 15 shows the responses of the respondents when asked about the income from pension is

helping in the purchasing of edible provision (food, groceries, etc..), 12 out of the total of 44

respondents which is 27.3% of the respondents strongly agreed; while 22 out of the total of 44

respondents representing 50% of the respondents agreed, and 10 out of the total of 44 respondents

or 22.7% of the respondents disagree.

Graphical illustration of Table 15

22.7% 27.3%

Strongly Agree
Agree
Disagree

50%

Source: Researcher’s field Data, 2023

Table 16: Responses concerning as to whether NASSCORP retirees’ pension benefits can be
improved by increasing employees’ salaries:

Response Frequency Total Percentage

Pension benefits can be improved by Male Female

increasing employees’ salaries
 7 5 12 27.3

Strongly Agree

Agree 12 10 22 50

Disagree 6 4 10 22.7

Strongly Disagree 0 0 0 0

Total 25 19 44 100

Source: Researcher’s field Data, 2023

Table 16 shows the responses of the respondents when asked about NASSCORP retirees’ pension

benefits can be improved by increasing employees’ salaries; 12 out of the total of 44 respondents

which is 27.3% of the respondents strongly agreed; while 22 out of the total of 44 respondents

representing 50% of the respondents agreed, and 10 out of the total of 44 respondents or 22.7% of

the respondents disagree.

Graphical illustration of Table 16

22.7% 27.3%

Strongly Agree
Agree
Disagree

50%
 Source: Researcher’s field Data, 2023
Table 17: Responses concerning retirees’ of NASSCORP benefits can be improved by increasing
retirement benefits for employees:

Response Frequency Total Percentage

Pension benefits can be improved by Male Female

increasing retirement benefits for
employees

Strongly Agree 12 10 22 50

Agree 8 3 11 25

Disagree 5 6 11 25

Strongly Disagree 0 0 0 0

Total 25 19 44 100

Source: Researcher’s field Data, 2023

Table 17 shows the responses of the respondents when asked about retirees’ of NASSCORP

benefits can be improved by increasing retirement benefit for employees; 22 out of the total of 44

respondents which is 50% of the respondents strongly agreed; while 11 out of the total of 44

respondents representing 25% of the respondents agreed, and another 11 out of the total of 44

respondents or 25% of the respondents disagree.

Graphical illustration of Table 17

 25

50
Strongly Agree
Agree
Disagree

25

Source: Researcher’s field Data, 2023

Table 18: Responses concerning NASSCORP retirees’ pension benefits can be improved by
employees paying a lump sum into their pension:

Response Frequency Total Percentage

Nasscorp retirees’ pension benefits can Male Female

be improved by employees’ paying a
lump sum into their pension.

Strongly Agree 7 5 12 27.3

Agree 7 4 11 25

Disagree 6 4 10 22.7

Strongly Disagree 5 6 11 25

Total 25 19 44 100

Source: Researcher’s field Data, 2023

Table 18 shows the responses of the respondents when asked about NASSCORP retirees pension

benefits can be improved by employees’ paying a lump sum into their pension; 12 out of the total

of 44 respondents which is 27.3% of the respondents strongly agreed; while 11 out of the total of

44 respondents representing 25% of the respondents agreed, and 10 out of the total of 44

respondents or 22.7% of the respondents disagree, whereas 11 out of the total of 44 respondents

constituting 25% of the respondents strongly disagree.

Graphical illustration of Table 18

22.7% 27.3%

Strongly Agree
Agree
Disagree

50%

Source: Researcher’s field Data, 2023

Table 19: Responses concerning NASSCORP retirees’ pension benefits can be boost by
increasing employees’ vesting period:

Response Frequency Total Percentage

Nasscorp retirees’ pension benefits can Male Female

be boost by increasing employees vesting
period

Strongly Agree 7 5 12 27.3

Agree 12 10 22 50
 Disagree 6 4 10 22.7

Strongly Disagree 0 0 0 0

Total 25 19 44 100

Source: Researcher’s field Data, 2023

Table 19 shows the responses of the respondents when asked about NASSCORP retirees’ pension

benefits can be boost by increasing employees vesting period, 12 out of the total of 44 respondents

which is 27.3% of the respondents strongly agreed; while 22 out of the total of 44 respondents

representing 50% of the respondents agreed, and 10 out of the total of 44 respondents or 22.7% of

the respondents disagree.

Graphical illustration of Table 19

22.7% 27.3%

Strongly Agree
Agree
Disagree

50%

Source: Researcher’s field Data, 2023

Table 20: Responses concerning NASSCORP retirees’ pension benefits can be improved by
increasing employees’ contribution rate:

Response Frequency Total Percentage

Nasscorp retirees’ pension benefits can Male Female

be improved by increasing employees’
contribution rate
 Strongly Agree 8 3 11 25

Agree 7 4 11 25

Disagree 9 12 22 50

Strongly Disagree 0 0 0 0

Total 25 19 44 100

Source: Researcher’s field Data, 2023

Table 20 shows the responses of the respondents when asked about NASSCORP retirees’ pension

benefits can be improved by increasing employees’ contribution rate, 11 out of the total of 44

respondents which is 25% of the respondents strongly agreed; while 11 out of the total of 44

respondents representing 25% of the respondents agreed, and 22 out of the total of 44 respondents

or 50% of the respondents disagree.

Graphical illustration of Table 20

22.7% 27.3%

Strongly Agree
Agree
Disagree

50%
 Source: Researcher’s field Data, 2023
4.2 Findings

After carefully cleaning and analyzing the data collected from the respondents in this study, the

researcher therefore presents the findings gathered from this study below:

Table 1 shows the gender of the respondents, 25 out of the total of 44 respondents of constituting

56.88% of the respondents are male, while 19 out of the total of 44 respondents representing

43.12% of the respondents are female.

Table 2 shows the age range of respondents, 2 out of the total of 44 respondents representing

4.54% are between age range 40-49; while 4 out of the 44 respondents constituting 9.1% is

between age range 50-59; and 38 out of the total of 44 respondents which is 86.36% are between

age range 60-above.

Table 3 shows the marital status of respondents, 22 out of the total of 44 respondents representing

50% are married; while 7 out of the 44 respondents constituting 15.9% are single; and 15 out of

the total of 44 respondents which is 34.1% are divorce.

Table 4 shows the marital status of respondents, 11 out of the total of 44 respondents representing

25% are high school graduates; while 16 out of the 44 respondents constituting 36.6% hold

Bachelor degree; and 11 out of the total of 44 respondents which is 25% hold Associate degree as

well as 6 out of the total of 44 respondents or 13.6% hold Master degree.

Table 5 shows the working experience of respondents, 11 out of the total of 44 respondents

representing 25% have working experience of 6-10 years; while another 11 out of the 44
respondents constituting 25% have working experience of 11 -15 years; and 22 out of the total of

44 respondents which is 50% have working experience of 16 years and above.

Table 6 shows the responses of respondents when asked about the economic impact of pension

income on the livelihood of retirees, 8 out of the total of 44 respondents constituting 18.2% of the

respondents strongly agreed; while 10 out of the total of 44 respondents representing 22.7% of the

respondents agreed, whereas 15 out of the total of 44 respondents constituting 34.1% of the

respondents disagree, and 11 out of the total of 44 respondents which is 25% of the respondents

strongly disagree.

Table 7 shows the responses of respondents when asked about the income from pension contribute

to the payment of medical care, 4 out of the total of 44 respondents constituting 9.1% of the

respondents strongly agreed; while 10 out of the total of 44 respondents representing 22.7% of the

respondents agreed, whereas 22 out of the total of 44 respondents constituting 50% of the

respondents disagree, and 8 out of the total of 44 respondents which is 18.2% of the respondents

strongly disagree.

Table 8 shows the responses of the respondents when asked about the income from pension

contribute to the payment of recreation, 11 out of the total of 44 respondents constituting 25% of

the respondents strongly agreed; while 10 out of the total of 44 respondents representing 22.7% of

the respondents agreed, and 23 out of the total of 44 respondents or 52.3% of the respondents

disagree.

Table 9 shows the responses of the respondents when asked about the income received from

pension contributes to the payment for child/children education, 7 out of the total of 44

respondents constituting 15.9% of the respondents strongly agreed; while 10 out of the total of 44
respondents representing 22.7% of the respondents agreed, whereas 19 out of the total of 44

respondents or 43.3% of the respondents disagree, and 8 out of total of 44 respondents which is

18.1% of the respondents strongly disagree.

Table 10 shows the responses of the respondents when asked about the income from pension

contribute to the purchasing of needed wearing, 7 out of the total of 44 respondents which is 15.9%

of the respondents strongly agreed; while 11 out of the total of 44 respondents representing 25% of

the respondents agreed, 16 out of the total of 44 respondents or 36.4% of the respondents disagree,

and 10 out of the total of 44 respondents which is 22.7% of the respondents strongly disagree.

Table 11 shows the responses of the respondents when asked about the income from pension

afford a minimum living standard, 11 out of the total of 44 respondents which is 25% of the

respondents strongly agreed; while 15 out of the total of 44 respondents representing 34.1% of the

respondents agreed, and 18 out of the total of 44 respondents or 40.9% of the respondents disagree.

Table 12 shows the responses of the respondents when asked about the income from pension

contributes to the payment for house rent, 11 out of the total of 44 respondents which is 25% of the

respondents strongly agreed; while 18 out of the total of 44 respondents representing 40.9% of the

respondents agreed, and 15 out of the total of 44 respondents or 34.1% of the respondents disagree.

Table 13 shows the responses of the respondents when asked about the income from pension

afford travel expenses, 4 out of the total of 44 respondents which is 9.1% of the respondents

strongly agreed; while 7 out of the total of 44 respondents representing 15.9% of the respondents

agreed, 22 out of the total of 44 respondents or 50% of the respondents disagree, and 11 out of the

total of 44 respondents which is 25% of the respondents strongly disagree.

Table 14 shows the responses of the respondents when asked about the income from pension

contribute to the purchasing of needed wearing, 7 out of the total of 44 respondents which is 15.9%

of the respondents strongly agreed; while 11 out of the total of 44 respondents representing 25% of

the respondents agreed, 16 out of the total of 44 respondents or 36.4% of the respondents disagree,

and 10 out of the total of 44 respondents which is 22.7% of the respondents strongly disagree.

Table 15 shows the responses of the respondents when asked about the income from pension is

helping in the purchasing of edible provision (food, groceries, etc..), 12 out of the total of 44

respondents which is 27.3% of the respondents strongly agreed; while 22 out of the total of 44

respondents representing 50% of the respondents agreed, and 10 out of the total of 44 respondents

or 22.7% of the respondents disagree.

Table 16 shows the responses of the respondents when asked about NASSCORP retirees’ pension

benefits can be improved by increasing employees’ salaries; 12 out of the total of 44 respondents

which is 27.3% of the respondents strongly agreed; while 22 out of the total of 44 respondents

representing 50% of the respondents agreed, and 10 out of the total of 44 respondents or 22.7% of

the respondents disagree.

Table 17 shows the responses of the respondents when asked about retirees’ of NASSCORP

benefits can be improved by increasing retirement benefit for employees; 22 out of the total of 44

respondents which is 50% of the respondents strongly agreed; while 11 out of the total of 44

respondents representing 25% of the respondents agreed, and another 11 out of the total of 44

respondents or 25% of the respondents disagree.

Table 18 shows the responses of the respondents when asked about NASSCORP retirees pension

benefits can be improved by employees’ paying a lump sum into their pension; 12 out of the total
of 44 respondents which is 27.3% of the respondents strongly agreed; while 11 out of the total of

44 respondents representing 25% of the respondents agreed, and 10 out of the total of 44

respondents or 22.7% of the respondents disagree, whereas 11 out of the total of 44 respondents

constituting 25% of the respondents strongly disagree.

Table 19 shows the responses of the respondents when asked about NASSCORP retirees’ pension

benefits can be boost by increasing employees vesting period, 12 out of the total of 44 respondents

which is 27.3% of the respondents strongly agreed; while 22 out of the total of 44 respondents

representing 50% of the respondents agreed, and 10 out of the total of 44 respondents or 22.7% of

the respondents disagree.

Table 20 shows the responses of the respondents when asked about NASSCORP retirees’ pension

benefits can be improved by increasing employees’ contribution rate, 11 out of the total of 44

respondents which is 25% of the respondents strongly agreed; while 11 out of the total of 44

respondents representing 25% of the respondents agreed, and 22 out of the total of 44 respondents

or 50% of the respondents disagree.

4.3 Discussion of Key Findings

This chapter presents the discussion of key findings from the research. The discussion analysis

how the findings of the study agreed or disagreed with other findings from the literature presented

in chapter two, as well as presents an overall reflection about the findings. The discussion of the

study was done in line with the research objective to gain insight on the economic impact of the

National Pension Scheme on retirees of NASSCORP. It also discusses institutional structures and
processes in place to help retirees maintain a minimum living standard after retirement. Retirees

largely depend on pension income for their livelihood, at the same time, they are exposed and

vulnerable to the effects of pension benefits which affects their pension income and livelihood

((ILO, 2010). Data collected in this research confirms that most retirees strongly depend on

pension income for their livelihood after retirement. This finding corresponds with the literature

(Aaron Z. Paye, 2021) that states that having a substantial amount of money set aside for your

retirement years can assure you of a comfortable life down the road; and it allows you to be

financially independent, not having to rely on children, grandchildren, or relatives to sustain you

when you are no longer working. According to retirees interviewed in this research, the income

received from pension does not covered most of their living expensive to include, medical, travel,

child or children education fee, etc. this finding agree with (“Social Security in African context”,

p.23) which concluded that pension is a percentage of employee’s gross aggregate earnings. It is

not intended to enrich pensioners/recipients, but to assist them “maintain a minimum living

standard” after retirement. Thus, on the basis of the data gathered, the interpretations of the results

from the reviewed findings, the researcher revealed the following: in response to the first research

question, To what degree, economically speaking, does the National Pension Scheme impact

NASSCORP’s retirees, the study shows that 18 out of the total of 44 respondents constituting

40.91% of the respondents agreed that the national pension program is economically impacting

their livelihood; while 26 out of the total of 44 respondents constituting 59.09% of the respondents

disagree. This finding agree with (“Social Security in African context”, p.23) which states that

pension is a percentage of employee’s gross aggregate earnings. It is not intended to enrich

pensioners/recipients, but to assist them “maintain a minimum living standard” after retirement.
Also in response to the second research question, To what extent, is the income from pension

sustaining retirees of the National Social Security and Welfare Corporation, the study shows that

26 out of the total of 44 respondents which is 59.09% of the respondents agreed that the income

from pension is assisting them maintain a minimum living standard; while 18 out of the total of 44

respondents representing 40.91% of the respondents disagree. This finding agrees with (NRTA

Pension Education Toolkit, 2021) that states that social security provides a guaranteed, cost-of-

living adjusted income for life in retirement, and has proven to be an effective way to keep retirees

out of poverty; and it is the foundation of retirement security for millions of retirees and their

families.

Finally, in response to the third research question, What can be done to improve pension benefits

for retirees at the National Social Security and Welfare Corporation, the study shows that 34 out of

the total of 44 respondents which is 77.27% of the respondents strongly agreed that NASSCORP

retirees’ pension benefits can be improved by increasing employees’ salaries; while 10 out of the

total of 44 respondents representing 22.73% of the respondents disagreed. This finding agrees with

(S. Dahnne Daniels, 2022) that states that since in fact benefits are the function of one’s earning,

employers will need to increase employee’s individual earning (salaries, allowances, bonuses, etc.)

to enable them to receive better retirement benefits when they are no longer working due to old age

and or disablement.
CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMNENDATION

5.1 Summary

Having collected, presented, analyzed and interpreted the data from the respondents including data

from the study, the student researcher at this point has summarized the findings in response to the

following research questions. To what degree, economically speaking, does the National Pension

Scheme impact NASSCORP retirees? To what extent, is the income from pension sustaining

retirees of the National Social Security and Welfare Corporation? What can be done to improve

pension benefits for retirees of NASSCORP?

In analyzing the responses to the three questions stated above, this is what was learnt:

1. The National Pension Scheme has less economic impact on the livelihood of NASSCORP

retirees. The income they receive from pension is insufficient to pay for living expense,

medical care cost, travel, child’s support (including cost of child’s education, medical,

amongst others). Understandably, pension is in fact an adjusted cost of living expense for

one in retirement which is less than emoluments received while one was actively in

insurable employment.

2. In response to the second question, respondents admitted that while the income receive

from the social security pension made less substantive economic impact on their livelihood,

it assured NASSCORP retirees of a minimum living standard, and contributed in part to

paying rent (if retiree had not built his or her house), purchasing of provisions and supplies

as well as meeting extreme needs.

3. In response to the third question, respondents maintain that NASSCORP retirees’ pension

benefits can be improved provided Management (a) increases employees’ monthly earnings

while they are in active insurable employment and (b) augment the retirement package, by

providing for the free medical care for retirees, since because of their advanced age, this is

require out of necessity.

5.2 Conclusion

This study sought to find answer to the following research questions, which include;

1. To what degree, economically speaking, does the National Pension Scheme impact

NASSCORP retirees?

2. To what extent, is the income from pension sustaining retirees of the National Social

Security and Welfare Corporation? And

3. What can be done to improve pension benefits for retirees at the National Social Security

and Welfare Corporation?

In the process to achieve the aims of the study, the researcher conducted focus group discussions,

semi-structured interviews and key informants interviews with the participation of all major
stakeholders including key offices of the National Social Security and Welfare Corporation

(NASSCORP), and retirees of NASSCORP. The findings revealed that the National Pension

Scheme is making less impact economically on retirees of the National Social Security and

Welfare Corporation. The income received from pension does not take care of most NASSCORP

retirees living expenses, since in fact pension is a cost-of-living adjusted income for life in

retirement. In response to the first research question, To what degree, economically speaking, does

the National Pension Scheme impact NASSCORP’s retirees, the study shows that 18 out of the

total of 44 respondents constituting 40.91% of the respondents agreed that the national pension

program is economically impacting their livelihood; while 26 out of the total of 44 respondents

constituting 59.09% of the respondents disagree. The income from pension is sustaining retirees of

the National Social Security and Welfare Corporation to some extent. The income from pension is

assisting NASSCORP retirees’ maintain a minimum living standard. Since in fact it is a cost-of-

living adjusted income for life in retirement. The income received from pension contributes to

house rent, edible provision (food, groceries etc.), and needed wearing. in response to the second

research question, To what extent, is the income from pension sustaining retirees of the National

Social Security and Welfare Corporation, the study shows that 26 out of the total of 44 respondents

which is 59.09% of the respondents agreed that the income from pension is assisting them

maintain a minimum living standard; while 18 out of the total of 44 respondents representing

40.91% of the respondents disagree. in response to the second research question, To what extent, is

the income from pension sustaining retirees of the National Social Security and Welfare

Corporation, the study shows that 26 out of the total of 44 respondents which is 59.09% of the

respondents agreed that the income from pension is assisting them maintain a minimum living

standard; while 18 out of the total of 44 respondents representing 40.91% of the respondents
disagree. Lastly, NASSCORP retirees’ pension benefits came be improved by increasing

employees’ salaries and retirement package. Since in fact benefits are the function of one’s

earning. In response to the third research question, What can be done to improve pension benefits

for retirees at the National Social Security and Welfare Corporation, the study shows that 34 out of

the total of 44 respondents which is 77.27% of the respondents strongly agreed that NASSCORP

retirees’ pension benefits can be improved by increasing employees’ salaries; while 10 out of the

total of 44 respondents representing 22.73% of the respondents disagreed.

5.3 Recommendation

As it is indicated in the conclusion chapter, the stakeholders mostly conduct activities

independently, without the knowledge of what other parties do and how combined efforts can yield

better results. However, in the fast changing and developing world, such approach is deemed

ineffective. Thus, after cautiously analyzing the data presented and followed by the conclusions

drew from study findings, the researcher therefore wish to advance few recommendations that seek

the need for economic impact of the National Pension Scheme, and such should be taken into

serious and timely consideration:

1. That the Government of Liberia through National Social Security and Welfare Corporation

(NASSCORP), develops a clear and concise policy that will provide health care benefits

for NASSCORP retirees. Since in fact medical care benefits is the most essential

recommendation deriving from this study for all respondents.

2. That the Management of the National Social Security and Welfare Corporation

(NASSCORP) provides financial assistance for NASSCORP retirees under its Corporate

Social Responsibility (CSR).

3. That the Management of the National Social Security and Welfare Corporation

(NASSCORP) increases remuneration (salaries, allowances, bonuses, etc.) for individual

employee’s of the Corporation. Since in fact benefits are the function of one’s earning; to

enable them to receive better retirement benefits when they are no longer working due to

old age and or disablement.

 ABSTRACT

The study assesses the economic impact of the National Pension program on the lives of

former NASSCORP employees who were retired in 2019 – 2021. It is based on an Asante’s

assertion (1987) that many Liberian workers scam to evade retirement because they think

retirement induces poverty, as well as isolates them from the main stream of the working

population. This study provides information to guide those who formulate pension policies

that will amply impact the economic life of retirees. Also, it informs national framers of

pension programs to consider retirement packages that are economically feasible and

sustainable for retirees in general.

The researcher employed qualitative research method within a descriptive survey design.

From analysis of the survey, in which 44 participants, 25 males and 19 females, were

recruited, 18 respondents, or 40.91% participants, agreed that the NASSCORP pension

program is impacting retirees lives economically; whereas, 26 respondents, or 59.09%

participants, disagreed. Inversely, 26 respondents admitted their income from retirement

pension only affords them a minimum living standard, while 18 respondents expressed

disagreement. More respondents, 34 in all, or 77.27%, strongly agreed NASSCORP

retirement pension package can be augmented by increasing employees’ salaries; whereas,

10 respondents, or 22.73%, did not agreed with salary increment. The researcher

recommends: 1. That the Iberian Government, through the National Social Security and

Welfare Corporation, develops a clear and concise policy that will provide health care

benefits for NASSCORP retirees. 2. That the NASSCORP management includes its retirees

as beneficiaries under its corporate social responsibility program. 3. That the NASSCORP

management increases remunerations (salaries, allowances, bonuses, etc.) for employees of

the Corporation, so as to enable retirees receive substantive benefit package when they are

retired. This certainly will augment the economic status of retirees who are longer

employed due to old age or disablement.