Lesson Notes By Weeks and Term - Senior Secondary 3
National pension scheme
National pension scheme
Term – 1st Term
Week: 7
Class: Senior Secondary School 3
Age: 17 years
Duration: 40 minutes of 2 periods each
Date:
Subject: Insurance
Topic:- National Pension scheme
SPECIFIC OBJECTIVES: At the end of the lesson, pupils should be able to
INSTRUCTIONAL TECHNIQUES: Identification, explanation, questions and answers, demonstration, videos from source
INSTRUCTIONAL MATERIALS: Videos, loud speaker, textbook, pictures
INSTRUCTIONAL PROCEDURES
PERIOD 1-2
|
PRESENTATION |
TEACHER’S ACTIVITY |
STUDENT’S ACTIVITY |
|
STEP 1 INTRODUCTION |
The teacher reviews the previous lesson on National Pension Scheme |
Students pay attention |
|
STEP 2 EXPLANATION |
He states the advantages of the new contributory pension scheme
|
Students pay attention and participates |
|
STEP 3 DEMONSTRATION |
He states the disadvantages of the new contributory pension scheme |
Students pay attention and participate |
|
STEP 4 NOTE TAKING |
The teacher writes a summarized note on the board |
The students copy the note in their books |
NOTE
NATIONAL PENSION SCHEME
THE ADVANTAGES OF THE NEW CONTRIBUTORY PENSION SCHEME
a.) It promotes the habit of saving among Nigerian employees especially through their compulsory contribution to the scheme.
b.) Through the scheme, pension is no more a burden on the employers of labour. It is contributed by both the employers and the employees.
c.) It makes pension administration easy and lucrative for the professional pension fund managers.
d.) It has considerably reduced the hardship which pensioners usually experience before they collect their pension benefits.
e.) It affords the employees some protection and comfort (in their old age) after their retirement.
f.) It provides employment for Nigerians.
DISADVANTAGES OF THE NEW CONTRIBUTORY PENSION SCHEME
a.) Some employers deduct the workers contributions but fails to remit this and their own contribution as required by law.
b.) Offices of the pension fund administration are not located within the reach of the workers to take their claim forms after retirement.
c.) Some pension fund administrators unnecessarily delay payments of workers pension benefits long after retirement.
EVALUATION: 1. State two advantages of the new contributory pension scheme
CLASSWORK: As in evaluation
CONCLUSION: The teacher commends the students positively