Equity Investment and Future Sustainability of Potential Retirees among Lecturers in Southwestern Nigeria Selected Tertiary Institutions
Oguntodu, J. A1, Enyi, P. Enyi2,
& Adegbie, F. F3
Babcock University,1
Department of Banking and Finance -2 & 3 Department of Accounting-Ilisan-Remo,
Ogun State, Nigeria.
Abstract
The comfort of the future is of
paramount importance to every retiree. Every retiree is expected to rely on
government compensation after active service, but
unfortunately, it has failed senior
citizens most often and hence the need to determine alternative investment that
can enhance the sustainability of potential retiree lecturers. Most studies on
retirees were on generalized workers but not potential retiree lecturers in
Nigeria. The study was carried out to determine
the impact of equity investment on the retirement investment goals of the
steady income stream of potential retiree
lecturers in Nigeria academia. The study adopted a survey research design. The population of the study was 5,805
lecturers for both public and private tertiary institutions that were
Universities and Polytechnics. A sample of 487 was determined using Taro Yamane
formula. A validated questionnaire was used in collecting primary data with Cronbach’s
alpha reliability coefficients ranged from 0.70 to 0.75. The study recorded the
retrieval rate of 83.4%. The study
adopted descriptive and inferential statistics for data analysis. The study
showed that equity investment had a significant
effect on the future sustainability of
potential retiree lecturers because the result showed that there was a
significant relationship between equity investment and retirement investment
goals (β1 = 0.701, R2 =31.2%, p< 0.05).The
study concluded that equity investment leads
to the future sustainability of potential
retiree lecturers and equally recommended that government should encourage
every individual to plan means to invest in a financial
asset in addition to the pension scheme to aid sustainability of every employee
especially lecturers.
Keywords: Alternative Investment,Generalized workers, Government Compensation, Retiree Lecturers and Senior Citizens
