Title:
SAVINGS, ENTITLEMENTS, BUSINESS/PROFESSIONAL PRACTICE BY UNIVERSITY WORKERS TOWARDS RETIREMENT IN SOUTH WEST, NIGERIA

Authors:
Ayodeji OLATUNDE

Abstract:
Retirement is the act of retiring or the state of being retired, i.e. to withdraw oneself from business, public life or and to remove from active service. Data for this study were collected from primary and secondary sources. A total number of two thousand and two hundred (2,200) questionnaires were administered in this research work, out of which two thousand and one hundred (2,100) questionnaires were returned. The questionnaires were administered using multi-stage random sampling techniques. Frequency counts, percentages ranking and mean were used to answer the general questions, while correlation analysis, t-test, Analysis of Variance (ANOVA) and Multiple Regression analyses were used to test the stated hypotheses. Results from the study revealed that university workers have positive attitude towards preparation for retirement and some of the staff in the universities made sacrifices of saving towards retirement through exit scheme and investment in Treasury bill and shares. This study therefore recommends that university management should be encouraged to organize a regular retirement counselling for their workers to enable them prepare for the obvious eventuality.

Keywords:
Business/Professional Practice, Entitlements, Retirement, Savings and University Workers

DOI:
http://dx.doi.org/10.37500/IJESSR.2021.4108