The relationship between psychosocial preparation for retirement and quality of life of retirees in Kenya

Abstract

As the Kenya government works towards improving the Quality of life (QoL) of all people, that of retirees requires special attention. This is because they have to undergo the retirement transition that significantly influences QoL. Research has established a significant positive relationship between retirement preparation and QoL. Hence, the relevant policies and institutional frameworks to promote QoL in retirement have been put in place. However, studies show that retirees in Kenya continue to experience many challenges. This study was therefore conducted to assess the relationship between psychosocial retirement preparation and QoL with a view to delineating the significant predictors of QoL. From a target population of 4,469 retirees, ten percent was sampled for the study. Purposive, cluster, simple random and stratified random sampling methods were used to select 447 respondents. Quantitative data was collected using interview schedules and analyzed quantitatively. FGD guides were used to collect data from participants and analyzed thematically. The study found that most respondents (82.25 percent) had not adequately prepared for retirement in the psychosocial domain. Consequently, less than half (41.5 percent) of them experienced a high QoL in retirement. QoL was found to be positively related to social support and a diversity of pre-retirement activities that translated in greater satisfaction at retirement. In view of this, the study recommends that psychosocial preparation for retirement be emphasized as a critical component of the retirement preparation process