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Critical Success Factors for a Micro-Pension Plan: An Exploratory Study

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  • Amos Gitau Njuguna

Abstract

Micro-pension plans are meant to insulate low income earners against old-age poverty. The formulation of such plans requires a delicate balance between economic viability, generation of adequate returns and customized features for the participants. This study sought to determine the pragmatic models for implementation of micro-pension plans, regulatory issues surrounding their operations, challenges to implementation and the strategies that can address the challenges. The data, collected from 1083 informal sector participants, 30 Micro-finance institutions and 20 Savings and Credit Cooperative Societies in Kenya was analyzed by use of factor analysis and visual binary approaches. The study concludes that the ideal micro-pension scheme needs to address governance, administrative, design and efficiency issues to succeed and recommends a multi-model implementation of micro-pension plans in addition to a separate set of regulations to govern the micro-pension plans.

Suggested Citation

  • Amos Gitau Njuguna, 2012. "Critical Success Factors for a Micro-Pension Plan: An Exploratory Study," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 3(4), pages 82-97, October.
    • Handle: RePEc:jfr:ijfr11:v:3:y:2012:i:4:p:82-97
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    References listed on IDEAS

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    5. Yu-Wei Hu & Fiona Stewart, 2009. "Pension Coverage and Informal Sector Workers: International Experiences," OECD Working Papers on Insurance and Private Pensions 31, OECD Publishing.
    6. L. Alan Winters, 2015. "Trade Liberalisation and Poverty: What are the Links?," World Scientific Book Chapters, in: Non-Tariff Barriers, Regionalism and Poverty Essays in Applied International Trade Analysis, chapter 13, pages 241-269, World Scientific Publishing Co. Pte. Ltd..
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