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Socio-Economic Implications of Retirement on Retired Public Servants in Ekiti State, Nigeria

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Author(s): Ayodeji OLATUNDE | Omojola Omowumi AWOSUSI

Journal: International Business and Management
ISSN 1923-841X

Volume: 3;
Issue: 2;
Start page: 79;
Date: 2011;
Original page

ABSTRACT
This study examined the socio-economic implications of retirement on retried public servants in Ekiti State, Nigeria.  Economic difficult might be a principal factor for maladjustment among retirees in Ekiti State.  Data for this study were collected from Primary source.  Four hundred (400) questionnaires were administered in this study.  Data for this study were analyzed with the aid of frequency count, percentage,  mean and statistical methods.  Results for this study showed that retirees in the study area had socio-economic problems resulting from poor pay, delay in payment of gratuity and pension, and hyper inflation on their meagre income.  This study, therefore, recommended that, the management of pension fund should be given to private pension administrators with credible records in order to forestall mismanagement of pension funds.  This study will be of immeasurable value to Government, Public Servants, Retirees, planners and researchers.Key words: Implication; Recommendations; Retirement socio-economic and public servants

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