THE PROCEDURES AND WAYS OF PAYMENT OF PENSION AND GRATUITY TO RETIRED CIVIL SERVANTS IN ENUGU STATE
ABSTRACT : This project is divided into different stages for ease of reference and simplification for analysis which goes as follows: The introduction of pension and gratuity, the background of the study which states the provision of pension and gratuity to retired civil servants in Enugu State by government though taxation. But in the private sector, premium has to set aside in separate fund known as funding for the purpose. Statement of the problem which states the different problems that through about pension and gratuity which are the inability for the retirees to lacks training and understanding on the qualification and entitlement of pension and gratuity, highly poor of regardless of pension and gratuity to government, inability to know the meaning and need of pension and gratuity. Purpose of the study, which state the needs to enlighten the public on the processes involved which prevent some civil servant from enjoying their pension and gratuity before they die. It also let the retired civil servants to know when their suppose to receive their pension and gratuity, finally the processes and ways involved in their payments.
TABLE OF CONTENTS
1.1 Background of the Study 2
1.2 Statement of the Problem 4
1.3 Objectives of the Study 5
1.4 Research Question
1.5 Scope and Limitation of the Study 5
1.6 Definition of the Terms 7
2.1 Review of Related Literatures an Overview
2.2 Statutory Age of Retirement 12
2.3 Notices of Retirement 12
2.4 Conditions for Granting Retirement
2.5 Qualifying Servant for Pension and Gratuity 13
2.6 Death Gratuity 14
2.7 Pension/Gratuity Where an Officer Killed in
Course of the Study 16
2.8 Method of Calculating Pension 18
RESEARCH METHODOLOGY 22
3.1 Sources of Data 22
3.1.1 Primary Data
3.1.2 Secondary Data
3.2 Population of the Study 23
3.3 Sample Size 24
3.4 Validity and Reliability of the Instrument 22
SUMMARY OF FINDINGS AND DISCUSSION
4.1 Summary of Findings
4.2 Discussion of the Findings
CONCLUSION AND RECOMMENDATION
5.1 Conclusion 39
5.2 Recommendations 42
Appendix I 49
Appendix II 49
The civil servant having put all his life in civil service would naturally expect to be rewarded. This immediate return is by ways of salaries and wages, while his long time rewards are by the pension and gratuity. Although one day he would be rewarded by ways of pension and gratuity also services a security.
Pension and gratuity are welfare packages for retire civil servant. It is the sum of money paid regularly to a pension who can no longer work because of age or disablement or to the widow or dependent children by the state. By his former employer o r funds to which he and his employer have both contributed after retirement, pension is expected to be paid monthly to the retired for the computation of his benefits is based on how long one has put into service and the rank at which one is retiring.
The graduation pension percentage range is from 30% of ones annual income which is computed and paid per-annum. The sum total obtained is now divided by twelve and it is this stipulated that is expected to sustain the retiree for the rest of his life.
In this private sectors of the economy however pension is still regarded as a suspect work in much the same way as during the medieval ages. Pension and gratuity makes provision for retired civil servant and is financed by government through taxation. But is the private sector premium has to be set aside in separate fund known as funds for the purpose.