The influence of Retirement amount and process of retirement benefit payment on academic Staff Attrition in Tertiary Institutions in Adamawa State, Nigeria

The purpose of this study was to investigate the influence of retirement policy on academic staff attrition in tertiary institutions in Adamawa state Nigeria by trailing the two major objectives of the new Pension Reform Act of year 2004 as reviewed in 2014. The study conceptual framework used the power resource theory to justify the role of the state (government) in provision and control of social security issues to explain the retirement process. The study utilised descriptive survey design with mixed method (Triangulation) research approach underpinned by pragmatism philosophy. The population consisted of all the academic staffs of the three institutions, their retirees and pension managers. It employed purposive and simple random sampling for collecting the relevant data for this study. The data were collected using structured questionnaires, semi-structured interviews, focus group discussions and detailed reviews of retirement policy issues and academic staff attrition in tertiary institutions. Applying a combination of deductive and inductive data analysis approaches, data were analysed quantitatively and qualitatively. The findings showed the new retirement policy has significant influence on academic staff attrition in tertiary institutions with particular reference tothe Amount and Process of Retirement Benefit Payment had significant Influence on Academic Staff Attrition in Tertiary Institutions in Adamawa state, Nigeria. The study concluded that the new retirement policy has failed to yield the desired results as retirees can still not access their benefits as and when due and therefore contributing to the massive academic staff attrition and retirement from the tertiary institutions in the state. It was recommended that, for the policy to achieve its objectives, the government needs to obtain accurate and correct data on employees to determine the actual retirement benefits and to effect payment of retirement benefits as and when due; put in place uniform retirement policies for public servants and private sector; apply uniform rules and regulations, and adequate funding through prompt remittance of funds from the direct source.