Employee Retirement Planning and Benefits: Issues and Challenges for Teachers in Teaching Service Board (TSB) Benue State, Nigeria
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This study examined the employee retirement planning and benefits: Issues and challenges for teachers in teaching service board (TSB) Benue State, Nigeria. Three research questions were raised and two hypotheses were formulated and tested at 0.05 level of significance. The population of the study included 36 selected secondary schools under Benue State Teaching Service Board purposefully drawn from only teachers (with dependent children, older in the teaching service or younger) by which 114 teachers were drawn as sample respondents. Data collection was done using researcher’s made instruments entitled “Questionnaire for the Employee Retirement Planning and Benefits: Issues and Challenges for Teachers. (QERPBICT).” Validation of the instrument was done by 3 specialists from the Department of Vocational and Technical Education two experts from Measurement and Evaluation Unit, all in Benue State University, Makurdi and the reliability was established using Cranbach Coefficient Alpha Method which yielded a coefficient of 0.84. The research questions were answered using mean and standard deviation scores at 2.50 to answer the research questions while the decision rule for testing the hypotheses was based on the p-value and alpha value. The findings reveal that there was a significant relationship between the variables of retirement planning, retirement benefits and the family size. Based on findings, it was concluded that there was a significant relationship between organizational retirement plans and teachers’ family size. Therefore, it was recommended that Benue State Teaching Service Board (TSB) should establish pre-retirement counseling services as well as general retirement matters to equip its employees with the basic knowledge concerning retirement for early preparation and gratuity should be made attractive and paid promptly by the government so that retired teacher can established business.
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