Ensuring Timely Payment of Benefits through Pension Management Systems among Pension Schemes in Tanzania

The Case of LAPF

  • Marcelo A Sanga
  • Juma J Masele

Abstract

This study assesses critical success factors for successful implementation of pension management system to facilitate timely payment of benefit to its members in Tanzania. It specifically seeks to find out the influence of the following factors: organizational structure, individual roles, management processes, and supporting environment in facilitating pension management system (PMS) to meet timely payment of benefits of the Local Authority Pension Fund (LAPF) members in Tanzania. The study revealed that organizational structure, management processes, individual roles and appropriate supporting environment positively and significantly influence timely payment of benefits through PMS. Failure was associated with the lack of integration of the PMS with other systems such as document management and accounting systems. The investigated factors were also not aligned with the PMS. The study recommends ensuring that issues related with organizational structure, management processes, individual roles and appropriate supporting environment are considered in formulating strategies related with improving service delivery. 

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Published
2017-09-20
How to Cite
SANGA, Marcelo A; MASELE, Juma J. Ensuring Timely Payment of Benefits through Pension Management Systems among Pension Schemes in Tanzania. The African Journal of Finance and Management, [S.l.], v. 26, n. 1, sep. 2017. ISSN 0856-6372. Available at: <http://journal.ifm.ac.tz/index.php/AJFM/article/view/363>. Date accessed: 19 oct. 2017.
Section
African Journal of Finance and Management