| dc.description.abstract | The study was about uptake of pension (scheme) services by the informal sector, using NSSF as a case study. It was guided by three objectives which are; i) to assess the level of pension scheme uptake by the informal sector, ii) to examine the challenges related with uptake of pension (scheme) services by the informal sector and iii) to identify strategies that have been used elsewhere to improve uptake of pension (scheme) services by the informal sector. The research study used a cross-section research design and adopted a quantiative aproach to collect data from 210 respondents who were selected using the Krejcie and Morgan, (1970) table. The study findings revealed that regarding the level of pension scheme uptake by the informal sector, it is evident that participation rates are generally low, with informal sector workers facing various barriers to enrollment and engagement. The results further revealed that due. lack of awareness and trust issues to administrative complexities and financial constraints, informal sector workers encounter significant challenges in accessing and participating in pension schemes. The exploration of strategies used elsewhere to improve uptake of pension (scheme) services by the informal sector provides valuable insights into potential avenues for addressing the identified challenges. Simplifying enrollment processes, implementing targeted awareness campaigns, leveraging community collaborations, and offering lower-cost pension plans are among the strategies perceived as effective in enhancing participation rates. Based on the results the study concluded that there is a complex landscape of pension scheme uptake by the informal sector, characterized by low participation rates and numerous challenges. Addressing these challenges requires a comprehensive approach that encompasses awareness-building, simplification of processes, trust-building, and the adoption of innovative strategies. It was suggested that NSSF should invest in targeted awareness campaigns specifically tailored to the needs and circumstances of informal sector workers. It was also recommended that NSSF should streamline the enrollment processes for pension schemes to make them more accessible and user-friendly for informal sector workers. NSSF should develop and implement financial literacy programs focused on the unique needs and challenges of the informal sector. | en_US |
