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Demographic Determinants of Retirement Adjustment of Retirees in Osun State

Abstract

The study investigated the level of retirement adjustment of retirees in Osun State, Nigeria, and explored the extent to which demographics (pre-retirement guidance attended before retirement, sex, level of education retired from, educational qualification, and family size) could influence retirement adjustment. The survey consisted of 165 samples drawn, using a multi-stage sampling method from a population of secondary and primary school retirees in the study area. A research question and five hypotheses guided the study. A standardised scale was adopted and used for data collection. Data collected were analysed, using descriptive and inferential statistics. Results revealed that while 75.2 % of the respondents reported moderate retirement adjustment, 24.8 % reported high retirement adjustment. The results further showed there is no significant difference in the retirement adjustment of the retirees on the anchor of attendance of pre-retirement guidance (F = 1.160, p = .327 > 0.05), and sex does not bring about any significant difference in the retirees’ adjustment (t = -.188, p = .851 > 0.050). Further results showed no significant difference in the retirement adjustment of the retirees based on level of education of service before retirement – whether primary or secondary school (t = .230, p = .819 > 0.05). While there is a significant difference in the retirement adjustment of the retirees on the basis of their educational qualification (F = 3.580, p = .008 > 0.05), there is no significant difference in the retirement adjustment of the respondents, using their family size as basis (F = .071, p = .931 > 0.05). It is recommended that retirement counsellors explore the influence of conjoint variables with demographics in the provision of retirement adjustment counselling as it seems that independent demographic variable is insufficiently able to determine retirement adjustment of retirees, among other recommendations.

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