On the Estimation of Survival Rate Using Ranked Set Sampling Design

Abstract

The Nigerian pensioners have high expectations from the government to ensure an effective implementation of pension regulations existing in the country. These expectations arise from the need to have sustainable standard of living in retirement and their benefits paid as at when due. However, the government does not know how many retirees will be alive at a particular period of time to draw fund from the pension account. This calls for regular verification of pensioners by Pension Transitional Arrangements Directorate (PTAD) at national level, office of the accountant general for State level and Local Government Pensions Board for Unified Local Government Council. This process exposed pensioners to stress related problems and some pensioners even die during such verification exercise. Again, it gives rise to varying set of problems that limit the capacity of the stakeholders within Nigeria pension industry to meet pensioner’s expectations. Survival rate of these retirees is key important statistic to the government for adequate preparation for their terminal benefits and to provide other social packages for this vulnerable group of people. However, this statistic is lacking in the State. Consequently, this work intends to address this problem by using the theory of Ranked Set Sampling (RSS) for Survival analysis to estimate the Survival rate of the retirees which will help the government in making adequate budgetary provisions to the Nigeria Pension Industry. Analysis and evaluation are presented.