DESIGN AND IMPLEMENTATION OF A COMPUTERISED TEACHER PENSION VERIFICATION SYSTEM (A CASE STUDY OF KADUNA STATE PENSION BOARD)
TABLE OF CONTENT
Table of content……...…v
CHAPTER ONE: INTRODUCTION
STATEMENT OF THE PROBLEM
OBJECTIVE OF THE STUDY
DEFINITION OF TERMS
CHAPTER TWO: LITERATURE REVIEW
2.1 CONCEPTS AND MEANING OF PENSION FUND
2.2 TYPES OF PENSION FUND SCHEME
2.4 OBJECTIVES OF PENSION REFORM ACT 2004
2.5THE PROBLEMS AND CHALLENGES OF PENSION FUND IN NIGERIA
2.6 CONTRIBUTION OF THE PENSION FUND SCHEME
2.7 BENEFITS OF PENSION FUND SCHEMES
2.8 FACTORS AFFECTING PENSION FUND IN NIGERIA
2.9THE ROLE OF FINANCIAL INSTITUTION IN PENSION
2.10OPPORTUNITIES AND CHALLENGES FOR FINANCIAL
INSTITUTIONS ON PENSION INDUSTRY
2.11CHALLENGES AND PROSPECTS IN MANAGEMENT OF PENSION FUND IN NIGERIA
CHAPTER THREE: SYSTEM DESIGN
3.2 SYSTEM REQUIREMENT SPECIFICATION
3.3 SYSTEM DESIGN
3.3.1 LOGICAL DESIGN
3.4 PROGRAM SPECIFICATION
3.5 SYSTEM FLOWCHART
126.96.36.199 SYSTEM CONTROLS
188.8.131.52 STRUCTURE OF DATABASE
CHAPTER FOUR: SYSTEM IMPLEMENTATION
4.2.0 FEATURES OF IMPLEMENTATION LANGUAGES
4.3.0 SYSTEM TESTING STRATEGIES
4.3.1 UNIT TEST
4.3.2 INTEGRATION TESTING
4.4.0 TARGET COMPUTER SYSTEM REQUIREMENTS
4.5.0 SOFTWARE MAINTENANCE ISSUES
4.5.1 CORRECTIVE MAINTENANCE
4.5.2 PREVENTIVE MAINTENANCE
4.5.3 ADAPTIVE MAINTENANCE
CHAPTER FIVE: SUMMARY AND CONCLUSION
APPENDIX A: SOURCE CODE
The management of the Pension Fund in Nigeria is as old as Nigeria itself. The pension fund was introduced by the colonial masters to provide income and security for old age British citizens working in Nigeria upon retirement as a post-retirement benefit to employees. In the view of Adesina (2006:7), Nigeria Legislative instrument on pension matters was the pension ordinance of 1951 which had retrospective effect from 1st January, 1946. In 1961 National provident from (NPF) scheme was established with the legislation to address pension matters n private organizations.
Pension is an arrangement of providing people with an income when they are no longer earning a regular income from employment. However, pensions should not be confused with severance pay; the former is paid in regular installments, while the latter is paid in one lump sum. Theterms „retirement plan‟ or „superannuation‟ refer to a pension granted upon retirement.
Retirement plans may be set up by employers, insurance companies, the government or otherinstitutions such as employer associations or trade unions. The retirement pension is referred to asretirement plans in the United States, as pension schemes in the United Kingdom and Ireland butin Nigeria, it is popularly known to as pension. Retirement pensions are typically in the form of a guaranteed life annuity, thus insuring against the risk of longevity. In general, the common use ofthe term pension is to describe the payments a person receives upon retirement, usually underpre-determined legal and/or contractual terms. A recipient of a retirement pension is known as apensioner or retiree. Pension fund is any plan, fund, or scheme which provides retirement income.
STATEMENT OF THE PROBLEM
The manual method of pension fund management maintains or keeps records in a filing cabinet abouteach employee/pensioner that is registered with a Pension Fund Administrator (PFA). When anemployee decides to open an account with a PFA for the purpose of retirement savings, the former(pensioner) has to go to the physical location of the PFA to obtain and fill a registration form.
Upon returning the form, the PFA clerk opens a file for the employee where the filled form and othervital documents as required or that relate to the employee are stored. The file is then passed on to thenext PFA personnel to verify the employee‟s registration which may take some days if not weeks as thecase may be.
Using the manual method, the employee is unaware of his/her account balance except if he visits thePFA‟s office. So, in case of financial impropriety in the employee‟s account, there is no way he/she cantrack this. In the manual method, it is a bit cumbersome for the PFA to maintain an up-to-date recordof employees/pensioners. When an employee switches job or changes location probably from one stateto another, it takes time before these changes can be effected in the employee‟s record. All thesemanual processes have resulted in problems such as:
1. Theft and fraudulent practices in the process of investing pension funds and the return oninvestments
2. Human errors i.e. in crediting of a pensioner‟s account
3. Wastage of materials such as paper, files and so on,
4. Lack of adequate information flow among PFA personnels .i.e. PFA‟s are unable to givetheir customers clear information as to what their balance is and what is the estimatedamount of money they will be collecting if they retire.
5. The stress of pensioners having to go to PFA‟s office.
A web-based pension fund management system is a system designed to manage pensionactivities both on the customers and Pension Fund Administrators (PFA) ends. The pensionmanagement activities on the part of PFAs include regular update of customers‟ information,crediting of customers‟ account if the customer is retired etc while customers‟ activities includechecking their balance online, making enquiries by sending mails, etc.
OBJECTIVE OF THE STUDY
The main objective of the study is to design and implement a staff pension management system. Specific objectives of the study are:
1. To develop a secure system for staff information.
2. To design a pension management system where teachers’ remittance can be made on an agreed time interval.
DEFINITION OF TERMS
Joint Tax Board This is an approved body that monitors the activities of private sector pension schemes.
Nigeria Social Insurance Trust Fund (NSITF) Provide and enhance social protection to private sector employees.
National Pension Commission (PENCON) Is an apex body of pension industry in Nigeria that regulate and supervise the business of pension companies.
National Insurance Commission (NALCOM) It is an independent body responsible for licensing and regulating insurance companies in Nigeria.
Pension Reform ACT 2004 (PRA) This is the body under the Pension Reform Act 2004 that regulatess the activities of all pension matters.
Pension Fund Administrators (PFAs) they are Private Limited Liability Companies licensed to manage pension funds under the Pension Act 2004.
Pension Fund Custodian (PFCs) they are banks license to hold the pension fund assets on behalf of the PFA.
Retirement Savings Account (RSA) This is where the monthly contributions of employees are kept for safe custody.
Security and Exchange Commission (SEC) These are manages under pension scheme license to manage pension funds.
SCREENSHOTS OF THE APPLICATION.