Lesson Notes By Weeks and Term - Senior Secondary 3

National pension scheme

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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

  1. State the advantages and the disadvantages of the new contributory pension scheme

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

  1. State two disadvantages of the new contributory pension scheme

CLASSWORK: As in evaluation

CONCLUSION: The teacher commends the students positively