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Options for retirement benefit payout under the Nigerian pension reform act of 2014 which is better between annuity and programmed withdrawal

Ashim Babatunde Sogunro

Abstract

This study investigates the most appropriate payout methods for retirees at the time of retirement that will enable potential retirees to live a life of luxury and comfort after they leave service. The aim of this paper refers to study the actuarial fundamental rules in practice and assumptions, as well as a framework of research methods and techniques to calculate the two payout options specified in the 2014 Pension Act. Moreover, the particular point is paid an attention to look into detail about the basis of potential retirees’ accumulated retirement contributions in their retirement saving accounts, as well as data on retirees from Nigerian academic federal university staff who are entitled to monthly benefits in addition to lump sum payments when they retire. The findings show that purchasing an annuity is preferable to a programmed withdrawal on a set schedule. As a result, employees may consider obtaining an annuity to benefit from long-term income flow for better living condi.....

Article Published 2022 692 hits Available

Evaluating the psychometric properties of economic literacy measures: a systematic review

Bamiro, Nurudeen Babatunde

Abstract

Prior studies often misinterpreted economic literacy concepts, constructs, and psychometric properties as related but distinct ideas. This often led to inaccurate measurement choices and poor generalisation of research outcomes. This research investigates economic literacy's conceptual clarity, factors influencing it, psychometric properties of measures, and suggests suitable instruments for its assessment. The PRISMA protocol was used in the study, while data were collected from WOS, Scopus, and Google Scholar. Out of the 126 publications from 2014 to 2023, 24 studies met inclusion criteria. The quality of the articles that met the inclusion criteria was assessed using MMAT tools. The result indicated that the measurement of economic literacy's depends on theoretical perspectives. Psychometric qualities of economic literacy assessment are influenced by theoretical perspectives, social context, and the chosen unit of analysis. Additionally, criterion-based measurements tend to focus on.....

Article Published 2024 549 hits Available

The mediating effect of risk factor management on the relationship between economic literacy and performance of public Universities in Southwestern Nigeria

Bomiro, Nurudeen Babatunde

Abstract

Nigerian universities face economic and funding challenges, resulting in infrastructural deficits, low rankings, and limited human capital development despite administrative autonomy. Studies on economic literacy and organizational behaviour in educational contexts remains underexplored, particularly in developing countries like Nigeria, where studies predominantly focus on non-educational sectors and emphasize financial literacy, a subset of economic literacy. This study investigates the mediating role of risk factor management in the relationship between economic literacy and university performance in Southwestern Nigeria. It measures the levels of economic literacy, risk factor management, and university performance while analyzing the impact of economic literacy on both risk factor management and university performance. Additionally, it assesses the effect of risk factor management on university performance and their mediating role in the relationship between economic literacy and .....

Thesis Published 2025 144 hits Available

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