| Retirement is a fact that awaits every worker.It’s not a fairy tale.This is a stage that every worker must pass through as they age.However,Nigeria’s public sector retirement policy is one riddled with corruption,embezzlement,bureaucratic challenges,lack of proper implementation plan,problem of transparency and inefficiency.In this study,retirees and civil servants in Anambra state of Nigeria were selected as research subjects.Taro Yamani formula was used to calculate the study population,and 394 questionnaires were distributed.The Rangan Kamaisan proportional allocation method was used to allocate sample sizes between retirees and civil servants in Anambra State,Nigeria.The three hypotheses in this study were tested by z-test statistical analysis.However,of the 394 questionnaires distributed,380 were correctly filled out and returned,forming the present study.The analysis and results of the data collected in this study shed light on fundamental issues in Nigeria’s public sector retirement policy,using Anambra State as the sample size.The current pension reform act and the creation of a commission or a body in 2014 are effectively ineffective.Government influence and interference in monitoring activities in the relevant public sector in Nigeria,their retirement policy is held hostage to the entire country,and this is one of the challenges that leads to corruption and internal chaos in the country.On the basis of this research,the countermeasures to solve these problems are proposed to include proper regulatory framework,inclusion of informal sectors,use of adequate sanctions and penalties,flexibility in administrative process,proper legislation,and use of technology to fight corruption and enhance transparency including necessity review. |
