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.
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