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Pension Systems in Ghanaian Public Universities

Author

Listed:
  • Jonathan Sakoe

    (Finance Officer, University of Mines and Technology, P. O. Box 237, Tarkwa Ghana)

  • Leo Moses Twum-Barima

    (Accountant, University of Mines and Technology, P. O. Box 237, Tarkwa, Ghana.)

Abstract

Workers think more about the future and the pension schemes they join when they are in active employment. The study considers the pension systems in the Ghanaian public universities. It assesses how university workers’ pay their defined benefit and contribution plans towards their pensions. Survey design was used in the methodology and chi-square was used to test the hypothesis. It was found out that there is significant difference in the retirement packages that the Ghana University Staff Superannuation Scheme (GUSSS) and Social Security and National Insurance Trust (SSNIT) pay to their members.

Suggested Citation

  • Jonathan Sakoe & Leo Moses Twum-Barima, 2024. "Pension Systems in Ghanaian Public Universities," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 8(2), pages 629-641, February.
    • Handle: RePEc:bcp:journl:v:8:y:2024:i:2:p:629-641
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    References listed on IDEAS

    as
    1. Martin Feldstein & Elena Ranguelova, 2001. "Individual Risk in an Investment-Based Social Security System," American Economic Review, American Economic Association, vol. 91(4), pages 1116-1125, September.
    2. João F. Cocco & Paula Lopes, 2011. "Defined Benefit or Defined Contribution? A Study of Pension Choices," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 78(4), pages 931-960, December.
    3. Robert J. Shiller, 2003. "Social Security and Individual Accounts as Elements of Overall Risk-Sharing," American Economic Review, American Economic Association, vol. 93(2), pages 343-347, May.
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