The paper examines contributory pension reforms and risk perception in the banking industry of Nigeria of Lagos State, Nigeria. The descriptive survey research design was adopted while the simple random sampling technique was used to draw a sample of 361 respondents. Questionnaire was the main instrument for data collection, measured on a 6-point Likert Scale. 361 copies of questionnaire were administered with a response rate of 60.94%. Data collected were analyzed using the descriptive statistical techniques of Percentiles and Pearson Correlation with the aid of Statistical Package for Social Sciences (SPSS) software for editing and encoding. The result shows that contributory pension reforms significantly affect risk perception among employees of commercial banks in Lagos metropolis, Nigeria (R = 0.982, p < 0.05). The study recommends that the management of commercial banks and other financial institutions should ensure continuous and adequate training of personnel to aid innovative, creative and efficient pension management strategies to improve employee welfare.
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