Dissertation submitted to Mzumbe University in partial fulfillment of the requirements for award of the degree of Master of degree Business Administration (MBA) of Mzumbe University
It is generally agreed that the pensioners form a class of poor people. There is also a feeling that the social security institutions which serve them are neither effective nor efficient enough to mobilize resources towards poverty alleviation for this category of the population. This feeling has called for the need of investigation into the issue.
The main purpose of this research study is therefore to present an evaluation of the contribution of the social security schemes to the socioeconomic progress and poverty alleviation of pensioners in general and of the PPF Pensions Fund in particular. Other objectives are to assess the contribution of the social security schemes in the reduction or even eradication of poverty and to propose the strategies towards efficient and effective operation of the schemes resources.
The review has been done on the ideas concerning the subject matter from different literatures on Social Security Schemes, Economic and Social development and researchers. Research combines quantitative and qualitative approaches while research design used was case study design. Data analysis has been presented in a descriptive manner. The methodology used in collecting the necessary information included interview of pensioners and workers, questionnaire to the pensioners, observation while doing a field work and secondary documentary source. The sampling design involves the sample size of 30 respondents and targeted population were pensioners and workers at PPF Headquarter. Sampling technique involves simple random sampling and non-probabilistic sampling methods.
The study has found that Social Security Schemes fulfilled the role for which it was created and are efficient in mobilizing their resources towards poverty reduction not only for members but also for the country. There are also some areas which come up with some recommendations to help in one way or another in planning and increase efficiency in its operations these are like extending the coverage of the social security schemes which has very limited coverage, the extension of social security coverage to the informal sector, improvements on the service quality and providing terminal benefits and pensions that fulfils the needs of pensioners.