INFLUENCE OF EDUCATIONAL STATUS ON RETIREMENT STRATEGIES AND POST RETIREMENT ACTIVITIES AMONG UNIVERSITY STAFF IN SOUTHWESTERN NIGERIA

Abstract

Most of the studies on retirement examine post retirement experiences and traumas, which could probably have been reduced or avoided if prospective retirees had been sensitized about not just retirement planning, but also on the various retirement strategies and their effects on retirees' well being. Worthy of note is also the fact that the educational levels and organizational types do inform and influence people's dispositions towards preparing towards retirement. Hence, this study is justified on the basis of assessing prospective retirees perception, particularly those within the public sector, on retirement strategies and post-retirement activities. This paper therefore seeeks to compare disposition towards retirement planning and strategies based on educational status, which in this case is reflected in their job status. The study suggest that the choice of retirement strategies differ among the highly educated and across job status. Academic staff had the highest among those with gradual plan (64%), followed by technical staff (38%). Technical and senior staff had the highest proportion among those with abrupt plans with 42% each. Also, the proposed activities in retirement differed across job status, which was also a reflection of their educational levels. The findings are in sync with previous studies advocating for gradual retirement strategies and suggest that the choice of retirement strategies differ among the highly educated and across job status but do not ultimately guarantee a satisfactory retirement life. Other factors also contribute to the attainment of a peaceful and satisfactory life in retirement, which should be further examined and flagged.