Socio-demographic factors affecting pension coverage in Kampala. A case study of Kikoni and Wandegeya in Kampala district
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The purpose of this study was to investigate, whether socio- demographic factors affect pension coverage in Kampala. This was carried out in Kikoni and Wandegeya Area. Data was collected from primary sources with the use of a questionnaire design by Simple Random Sampling technique where a sample of 84 out of 96 respondents willingly provided information towards the study. Data was then processed and analyzed by use of frequency tables, chi- square and binary logistic regression. This was done with the use of STATA application. The study clearly indicated that pension coverage is still low as 74.39% of the respondents rated pension coverage low. Socio factors such as employment status (p-value 0.037) and Pension arrangement at Workplace (p-value 0.001) were significant to pension coverage. This showed that most of the employed and have a pension arrangement at their workplaces are in a better position to have pension coverage. Under Financial Education, those who had begun saving (p-value 0.000) were significant to the study. This meant that they were also likely to have pension coverage. The study also revealed that demographic factors such as age group, gender and highest level of education were not significant to the study. Factors such as financial knowledge, ability to use of financial knowledge, who to depend on during retirement was not significant to the study. The study concludes by noting that the rate of pension coverage is still low. This was noticed since many of the respondents were working in the informal sector and others were students. This indicated the need to improve Uganda’s pension coverage. The study recommends that, to improve or increase pension coverage in Uganda, there is need for respective enforcers and stakeholders to put more emphasis on awareness of the urgent need of saving for retirement. The Government also has increase on the number of initiatives such as “Emyooga fund” to empower youth and individuals to create income generating activities so that they can have money to save for retirement.