A Dissertation submitted for partial fulfillment of the requirements for the Master in Business Administration in Corporate Management (MBA-CM)
of Mzumbe University
This study assessed role of Social security funds in enhancing socio-economic development in Tanzania using a case of PPF Pensions Fund. Specifically the study aimed at examiningcoverage of social security schemes in Tanzania, to investigate the impact the social security funds have on individual economy and to explore the extent to which social security schemes covers atypical economic groups.
The study was based on a sample of 132 respondents which were obtained throughsimple random sampling and purposive sampling. Data collection tools that were used to assist in collecting data were questionnaires and interviews. Both qualitative and quantitative research approaches were used in this study. The data analysis under this study was done through the use of spread shit and supported with content analysis.
The study revealed that there is a direct connection between social security and socio-economic development in Tanzania. The fundsimprove lives of people in the society. Social security schemes improve education, health and income of individuals while increasing tax revenues to the government in which is used to improve social needs.Also the study revealed that SSRA issues directives to social security funds on investment policy and guidelines to follow so that money invested can give a high return on investment.
Furthermore, the study reveals that social security enhance socio-economic development of people by participating in different corporate social responsibilities (CSR) activities and contributing to the welfare of the people. Again, in terms of coverage, the study revealed that Social security coverage in Tanzania is still lowand does not cover atypical economic group.
Lastly the study recommends that social security funds need to ensure that majority of the people from informal sector are being converted into fund membership by establishing schemes that will attract members to join, should widen its operations to entire Tanzania, should cover informal economic sector and improve policy for harmonizing pension payment, increase education on importance of social security schemes.