Agho A. C.

Agho C.O.

Abstract

The original purpose of pension schemes was to ensure retirees basic needs are met. However, many individuals rely on their children for support in old age, rather than saving, which can lead to financial insecurity and limited wellbeing in retirement, especially when children face economic challenges. Therefore, this study evaluates the effectiveness of pension schemes in meeting the healthcare needs of local government retirees in Benin City. The specific objective to examine the effect of the pension scheme on the health care needs of Local Government retirees in Benin City.The cross-sectional study design was adopted to collect data from 332 local government retirees with the aid of semi-structured questionnaire. Data were analysed with tables, percentages, charts; and formulated hypotheses were tested with the chi-square inferential statistical technique. It was also found that there is a statistical significant relationship between pension scheme and the health care needs of local government retirees (p-value = 0.00 < 0.05). This study results indicate that local government retirees are largely responsible for their own healthcare, as pension schemes lack provisions for healthcare delivery. Therefore, stakeholders designing pension schemes must prioritize the well-being of local government retirees by ensuring timely and regular pension payments, providing subsidized medical services and establishing comprehensive healthcare support systems. This will enable retirees to enjoy a comfortable and secure post-retirement life.

   

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Published: 2025

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