The Influence Of Social Security Funds In The Socio-Economic Welfare Of The Pensioners: Case Of Dodoma Municipality

ABSTRACT

Social security means any kind of collective measures or activities designed to ensure that members of society meet basic needs with adequate protection from the contingencies for required standard of living under a certain society. This study focused on the influence of the social security fund in the socio-economic welfare of the pensioners. It respectively addressed the livelihood strategy after retirement, the procedure and method used to pay pensions and strategies for social security fulfillment of socio-economic welfare of the pensioners. The study used a cross-sectional designs which allowed the collection of data at one point in time to a represent population based on qualitative data. The study used 79 respondents to provide information, these respondents are retired staffs. Data were collected through questionnaires that were administered to retired staffs under the LAPF fund, and interview was directly used to collect some qualitative information from key informants. The collected data were analysed by using SPSS and presented per each major study theme. The findings show that the livelihood strategy after retirement was basically connected to the pension amount that are really do not cope with living standard of the pensioner, less amount are received by pensioners compared to the required and standard socio-economic welfare. The experience pensioners’ needs remained unsatisfied for a certain period of time due to low income in monthly. The best strategies to increase welfare of pensioners in terms of social and economic aspects noted to base on the increase of various benefits to pensioners. Welfare of pensioners expected to be improved through formation of pension fund system.