Abstract:
Payments of pension in most of Social Security Funds is a constant challenge not only for customer but also to the workers or organizational staffs and the fund in providing or accessing effectiveness in conducting pension payments process. The main objective of the study was to examine the organizational factors affecting payments of pension in Public Service Social Security Fund (PSSSF). The researcher employed a case study research design and thus Public Service Social Security Fund (PSSSF) was a case study in the research report. The sample size consisted of 150 respondents who were selected using convenience and purposive sampling techniques. Data collected and methods applied were primary source of data and secondary source of data, the tools used on the data collection method were questionnaire, interview and documentary review. After data collection with the aid of Statistical Package for Social Sciences (SPSS) and Microsoft Excel 2007, data gathered were analyzed.
The findings of this study showed that the largest number of PSSSF employees have full awareness on payment of pension conduction process however, they are some of the employees lack knowledge and awareness on the payment of pension conduction process. Therefore, the study also found the causes of delay on pension payment caused by retirees themselves during the assessment of their pension payments are incomplete or incorrect records, failure to follow instructions, loss of membership identification card. The study also found on the challenges faced by retirees during the assessment of their pension payments are delay in payments, lack of pensioners awareness, loss of benefit files, inaccurate of past records, loss of time by beneficiaries, long benefit processing and payments as well as mismanagement of fund.
The public service fund can also ensure effective conduction of pension payments process through effective supervision by the management during the conduction of pension payments process, proper management of the fund, provision of enough knowledge and understanding on pass legislation's and regulations to both retirees and employees by the fund, proper placing of benefit files as well as accuracy of past records keeping.