Abstract
This study is aimed at examining the difference between the retirement benefit of the old, pay-as-you-go pension scheme, and the new, contributory pension scheme (CPS). The data used in the study were obtained indirectly from secondary sources. In the study, the Analysis of Variance (ANOVA) and the Pearson Correlation methods are employed, aided by the SPSS for the purpose of data analysis. The study finds that the financial value of the retirement benefit of the old pension scheme is significantly higher than that of the new pension scheme. The study also finds that the benefits of the two pension schemes significantly follow the same trend. The study concludes that the new pension scheme pays out a lesser amount of the retirement benefit than the old. The study provides the recommendations for the efficient management of the investments in the pension fund so as to achieve a sufficient return in order to bridge the gap with respect to the retirement benefit between the two pension plans.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
