Assessing the Implementation and Challenges of Merging the Pension Funds in Tanzania:

Abstract

This study explored the complex landscape of merging pension funds in Tanzania, with a specific focus on the Public Service Social Security Fund (PSSSF). Three research objectives guided this study whereby an examination of institutional structures governing merged pension funds, an exploration of the impact of governance practices on service delivery, and an identification of challenges associated with the merging process were done. Employing a mixed-methods approach, data collection involved interviews with PSSSF managerial staff, questionnaires administered to non-managerial staff, and a thorough documentary review of post-merger evaluation reports. The findings from this comprehensive investigation revealed a centralized governance structure post merger, characterized by a hierarchical framework and well-defined committees. This structure strategically streamlined decision-making processes, fostering efficiency and specialization. Additionally, the study illuminated the significant impact of governance practices on service delivery within pension funds, with clear correlations established. However, challenges were identified, including data integration complexities and stakeholder resistance, underscoring the multifaceted nature of merging pension funds. The study concluded that, while the merging of pension funds in Tanzania, particularly within the Public Service Social Security Fund, has led to a centralized and efficient governance structure with a positive impact on service delivery, it is not without challenges, emphasizing the need for targeted interventions and continuous improvement in the post-merger landscape The study recommended for the refining governance frameworks to address challenges identified and optimizing stakeholder engagement strategies. The study contributes to academic understanding by providing insights into the dynamics of merged pension funds and offers practical implications for policymakers and practitioners in the field of social security in Tanzania.