Relationship between retirement preparation in the psychosocial, financial and health domains and the quality of life of retirees in Nyeri County, Kenya
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Date
2015
Authors
Thuku, Pauline Wanjiru
Journal Title
Journal ISSN
Volume Title
Publisher
Kenyatta University
Abstract
Like many countries around the world, Kenya has an ageing population. As the government works towards improving the Quality of life (QoL) of all people, enhancing that of retirees requires special attention. Research has established a significant positive relationship between retirement preparation and QoL. Hence, to promote QoL in retirement, the government of Kenya has put in place the relevant policies and institutional frameworks. Furthermore, the Retirement Benefits Authority (RBA) has intensified its efforts to increase awareness on retirement preparation and increase retirement planning coverage. Yet, studies consistently report that retirees in Kenya continue to experience many challenges. This study was therefore conducted to assess the factors in retirement preparation that significantly influenced QoL of retirees in Nyeri County, Kenya. Unlike many studies, a multi-dimensional approach was utilized to assess retirement preparation in the psychosocial, financial and health domains and its influence on the overall QoL of retirees. Continuity theory and the life course perspective guided the study. Ten percent of the target population 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 using SPSS (Version 16)., Four FGDs were conducted to provide qualitative data. FGD guides were used to collect data from participants and the thematic approach utilized in the analysis. The study found that most respondents were inadequately prepared for retirement in the psychosocial, financial and health domains. Consequently, less than half experienced a high QoL in retirement. QoL was found to
be positively related to retirement preparation in the psychosocial, financial and health domains. In addition, age, gender, marital status and income significantly influenced QoL where older, married, female respondents with higher incomes had the highest chances of a quality retirement. The retirement preparation indicators that predicted a high QoL included spending free time on family activities, adequate time with friends, diversifying income generating activities and seeking health-promoting information. In this regard, pre-retirement activities and social relationships that continued in retirement positively contributed to QoL. The study recommends a multi-faceted retirement preparation framework for all employees. Special focus should be on the unmarried male prospective retirees with low income since they have higher chances of experiencing allower quality of life in retirement than other categories of retiree
Description
A thesis submitted in partial fulfillment for the Degree of Doctor of Philosophy of Kenyatta University, HD 7108.2 .W3K4