A Dissertation Submitted to the Faculty of Commerce in a Partial/Fulfillment of the Requirement for Award of the degree of Masters of Science in Accounting and Finance (Msc(AF)) of Mzumbe University
Sustainability of pension funds depends on investment performances. The best corporate governance practices is indeed the key issue influencing investment performance of public pension schemes. This study was designed to analyze performances in relation to corporate governance practices. The objective of this study is to determine the effect of corporate governance practices on the performance of the pension scheme. The study focused in three selected pension funds in Tanzania, namely, the Public Service Pension Fund, National Social Security Fund and Parastatal Pension Fund. Theoretical and empirical studies of this work relied on the relationship between corporate governance practices and performance of pension schemes. The study used both primary and secondary data as the means of collecting data with a comparative case study orientation. Published financial statements and other desk materials were collected principally from case public pension schemes. In addition, Interviews were also made with responsible top management and officials from planning and investment departments of the funds. The study found the relationship between the corporate governance best practices and investment performance, Social Security Regulatory Authority controls and monitor the investment in these selected pension scheme but it should not limit the pension schemes to invest outside the country as this is the only way to diversity the local risks. stakeholders and employees should be actively involved in the conduct of good corporate governance practices as this is the only way successes could be achieved in its effect on the performance of pension scheme in Tanzania