MBA Theses and Dissertations (2023)

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Browsing MBA Theses and Dissertations (2023) by Author "Mugi, C. W."

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    A Heuristic approach in examining the factors influencing additional voluntary contribution in the public sector in Kenya
    (Strathmore University, 2023) Mugi, C. W.
    There is prevailing confusion on the machinations of, and thus subscribership to pension funds in Kenya. The need for additional pension fund contributions is however apparent given insufficient funding towards catering to the aging population in the country. The current study aimed at shedding light on the factors affecting employee additional voluntary pension contribution in Kenya’s civil service. The objectives were as follows - to assess the effect of macroeconomic factors on employee additional voluntary pension contribution in Kenya's civil service, to assess the effect of industry-specific factors on employee additional voluntary pension contribution in Kenya's civil service and to assess the effect of personal factors on employee additional voluntary pension contribution in Kenya's civil service. A positivist approach employing a descriptive-correlational research design was applied. Data were collected, through a sampling approach, from all 22 ministries. Data on variables were collected through a structured questionnaire. An exploratory factor analysis was then performed on the data after which an ordinal logistic regression approach was employed in determining the impact of macroeconomic factors, industry-specific factors, and personal factors, on additional voluntary pension contribution in Kenya’s civil service. Personal factors were deemed impactful to employee additional voluntary pension contributions whereas industry-specific factors and macroeconomic factors were not considered impactful at the 95% confidence level. Study findings on the first objective indicate that macroeconomic factors should not be considered in shaping incentive packages to bolster additional voluntary contribution to pension schemes. Findings from the second factor indicate a need for further investigation into potential context-specific attributes that account for the lack of impact of industry-specific factors. Finally, personal factors, as indicated in the third objective, should be considered as an isolated subgroup to create effective additional voluntary contribution incentives that leverage short-term thinking and financial factors.