IDEAS home Printed from https://ideas.repec.org/a/bcp/journl/v8y2024i2p629-641.html
   My bibliography  Save this article

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
    as

    Download full text from publisher

    File URL: https://www.rsisinternational.org/journals/ijriss/Digital-Library/volume-8-issue-2/629-641.pdf
    Download Restriction: no
    File URL: https://www.rsisinternational.org/journals/ijriss/articles/pension-systems-in-ghanaian-public-universities/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. 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.
    2. 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.
    3. 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.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Steve Newbold & Charles Griffiths & Christopher C. Moore & Ann Wolverton & Elizabeth Kopits, 2010. "The "Social Cost of Carbon" Made Simple," NCEE Working Paper Series 201007, National Center for Environmental Economics, U.S. Environmental Protection Agency, revised Aug 2010.
    2. Joya, N.E.A., 2007. "Dreams that do not come true: Re-addressing social security to expand old-age social protection," ISS Working Papers - General Series 18755, International Institute of Social Studies of Erasmus University Rotterdam (ISS), The Hague.
    3. John Sabelhaus, 2005. "Alternative Methods for Projecting Equity Returns: Implications for Evaluating Social Security Reform Proposals," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 8(1), pages 43-63, March.
    4. Hans Gersbach, 2013. "Preventing Banking Crises--with Private Insurance?," CESifo Economic Studies, CESifo Group, vol. 59(4), pages 609-627, December.
    5. Goerke, Laszlo, 2007. "Unemployment Insurance Savings Accounts and Collective Wage Determination," IZA Discussion Papers 3141, Institute of Labor Economics (IZA).
    6. Laurence Ball & N. Gregory Mankiw, 2007. "Intergenerational Risk Sharing in the Spirit of Arrow, Debreu, and Rawls, with Applications to Social Security Design," Journal of Political Economy, University of Chicago Press, vol. 115(4), pages 523-547, August.
    7. Miyazato, Naomi, 2010. "The optimal size of Japan's public pensions: An analysis considering the risks of longevity and volatility of return on assets," Japan and the World Economy, Elsevier, vol. 22(1), pages 31-39, January.
    8. José Luis Iparraguirre, 2020. "Economics and Ageing," Springer Books, Springer, number 978-3-030-29019-1, January.
    9. Assar Lindbeck & Mats Persson, 2003. "The Gains from Pension Reform," Journal of Economic Literature, American Economic Association, vol. 41(1), pages 74-112, March.
    10. Jingjing Chai & Wolfram Horneff & Raimond Maurer & Olivia S. Mitchell, 2009. "Extending Life Cycle Models of Optimal Portfolio Choice: Integrating Flexible Work, Endogenous Retirement, and Investment Decisions with Lifetime Payouts," NBER Working Papers 15079, National Bureau of Economic Research, Inc.
    11. Horneff, Wolfram J. & Maurer, Raimond H. & Mitchell, Olivia S. & Stamos, Michael Z., 2009. "Asset allocation and location over the life cycle with investment-linked survival-contingent payouts," Journal of Banking & Finance, Elsevier, vol. 33(9), pages 1688-1699, September.
    12. Simon Fan & Yu Pang & Pierre Pestieau, 2022. "Investment in children, social security, and intragenerational risk sharing," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 29(2), pages 286-315, April.
    13. Horneff, Wolfram J. & Maurer, Raimond H. & Mitchell, Olivia S. & Stamos, Michael Z., 2007. "Money in motion: Dynamic portfolio choice in retirement," CFS Working Paper Series 2007/21, Center for Financial Studies (CFS).
    14. Yu Mei & Xie Haibin & Huang Xiaowei & Xu Jinhai & Ralescu Dan, 2014. "A Study on the Chinese Enterprise Annuity Replacement Rate Problem," Journal of Systems Science and Information, De Gruyter, vol. 2(1), pages 1-15, February.
    15. Basu, Anup K. & Drew, Michael E., 2010. "The appropriateness of default investment options in defined contribution plans: Australian evidence," Pacific-Basin Finance Journal, Elsevier, vol. 18(3), pages 290-305, June.
    16. Andrew A. Samwick, 2009. "Changing Progressivity as a Means of Risk Protection in Investment-Based Social Security," NBER Chapters, in: Social Security Policy in a Changing Environment, pages 299-327, National Bureau of Economic Research, Inc.
    17. Kaschützke, B. & Maurer, R., 2016. "Investing and Portfolio Allocation for Retirement," Handbook of the Economics of Population Aging, in: Piggott, John & Woodland, Alan (ed.), Handbook of the Economics of Population Aging, edition 1, volume 1, chapter 0, pages 567-608, Elsevier.
    18. F. Habib & H. Huang & A. Mauskopf & B. Nikolic & T. S. Salisbury, 2021. "Optimal allocation to deferred income annuities," Papers 2111.01234, arXiv.org.
    19. Axel Börsch‐Supan, 2005. "Risiken im Lebenszyklus: Theorie und Evidenz," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 6(4), pages 449-469, November.
    20. Meyer, Donald J. & Meyer, Jack, 2005. "Risk preferences in multi-period consumption models, the equity premium puzzle, and habit formation utility," Journal of Monetary Economics, Elsevier, vol. 52(8), pages 1497-1515, November.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bcp:journl:v:8:y:2024:i:2:p:629-641. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Dr. Pawan Verma (email available below). General contact details of provider: https://rsisinternational.org/journals/ijriss/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.