Effectiveness of scheme supervision on the performance of social security funds in Tanzania

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Date
2017
Journal Title
Journal ISSN
Volume Title
Publisher
University of Dar es Salaam
Abstract
The main objective of this study was to determine the effect of supervision on the performance of social security funds in Tanzania. Specifically, the study was intended to answer the research question ‘to what extent does supervision as measured in terms of compliance, governance, member protection and financial soundness influence the performance of social security funds as measured by adequacy of benefits and coverage’? The major problem that influenced this study was complaints and concerns on delayed benefits, unequal payments and poor performance of investments done by social security funds. Theories governing this study were positive theory of social security, investment theory and agency theory. The study followed deductive research approach and survey method was used in data collection. A set of closed questionnaires was administered to major players of the social security sector in Tanzania who are SSRA and SSFs. A set of interview guide questions was also used to get more details on issues pointed in the questionnaire. Major findings revealed that there is a relationship between performance of social security funds and supervision by SSRA. The level of significance of determination of the performance variables varied between the supervision variables. Overall, compliance and member protection were found to be notable determinants of social security performance. Summary models show that supervision is not a statistically significant determinant of performance of social security funds in Tanzania. Thus other factors not included in this study may be significant determinants of performance of social security funds in Tanzania. After analysis of data, a number of recommendations were given. First, policy makers should develop policies that insist on member protection. Second, SSRA as a regulator should put more emphasis on compliance and member protection so as to enhance performance. And finally, the government should put in place fiscal and monetary policies to help adjust economic variables so as to reduce their effects on the performance of SSFs in Tanzania as measured in terms of adequacy of benefits and coverage.
Description
Available in print form, East Africana Collection, Dr. Wilbert Chagula Library, Class mark (THS EAF HD6080.2.T34N3758)
Keywords
scheme supervision, social security funds
Citation
Ndunguru, E. (2017) Effectiveness of scheme supervision on the performance of social security funds in Tanzania. Master dissertation, University of Dar es Salaam. Dar es Salaam.