Public Pension Administration in Nigeria: Serving Retirees’ Interest

Synonyms

Happy aging; Income security; Pension administration; Public concern

Definitions

Administration:

It refers to determined action taken in pursuit of a conscious purpose. It is the systematic ordering of affairs and the calculated use of resources in the interest of the governed.

Public pension:

It is a monthly sum paid by government to a retired public servant after working for a specific period of time, or when he or she is considered too old or ill to work, or having reached the statutory age of retirement. The payment of pension continues until the retiree dies.

Retiree:

A person who stops working in public service after reaching the statutory age of retirement.

Well-being:

This is the retiree’s ability to meet basic needs and feel a sense of security or satisfaction with their condition of existence.

Introduction

The establishment of stable sources of income security throughout old age is critical, and in several countries, the public pension systems are bases on which the...