Factors Influencing the Participation in Defined Contribution Pension Scheme by Urban women in the informal Sector in Ghana

The study set out to investigate reasons for the low interest in participating in Defined Contribution Pension Schemes (DCPS) by urban women in the informal sector in Ghana (UWISG) in order to unravel the causes of the phenomenon of non-participation so that solutions can be identified. Most studies conducted on voluntary participation in pension schemes have not explored the such variables; perceived net pension wealth, permanent income, attitude, subjective norm, and perceived behavioural control. The main research questions among others are; what are the effects of demographic characteristics of urban women in the informal sector in Ghana (UWISG) on their intention to participate in Defined Contribution Pension Schemes (DCPS)? What is the impact of perceived net pension wealth (perceived benefits) on the intention of UWISG to participate in DCPS? The Methodology of the study is quantitative research design. The study has two research models a logistic regression model of demographic variables and model is a framework consisting of exogenous and endogenous latent variables. Some significant findings of the study are (i) an inverse relationship between disposition to save and intention to participate in DCPS. The inverse relationship implied that most of the respondents would prefer to probably put money in their savings or investment accounts rather than contributing to DCPS. The study also found the age variable to be an insignificant influencer of DCPS adoption intention.