Effects of Employees Based Financial Programmes on Retirement Preparedness among Teachers in Kenya
Journal Title: IOSR journal of Business and Management - Year 2018, Vol 20, Issue 11
Abstract
There is indisputable need for retirement preparedness since a significant positive relationship exists between retirement planning and retirement satisfaction. Majority of retirees remain vulnerable to poorer retirement adjustment and outcomes in terms of life satisfaction and quality of life. The purpose of the study was to assess the effects of employees based financial programmes on retirement preparedness among teachers in Kenya. The target population was 1,238 teachers aged 50 years and above and employed in public secondary schools by the Teachers Service Commission in Kirinyaga and Murang’a Counties by 2017. A representative sample of 334 respondents was selected using multistage sampling technique. Data was collected using semi structured questionnaire and interview guide. Logit regression was used to establish the relationships between variables in the study and to test the null hypotheses at P ≤ 0.05 and 95% confidence level. Despite pre-retiree teachers not being adequately prepared for retirement; financially programmes had a significant positive effect on retirement preparedness. This means that financially programmes increased retirement preparedness of preretiree teachers. The reported findings extend the current understanding of employee separation in terms of financial programmes and raises implications for the various theories that buttresses employee separation choices in human Resource management.
Authors and Affiliations
Titus G. Gathiira, Stephen M. A. Muathe, James M. Kilika
Keywords
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- EP ID EP422192
- DOI 10.9790/487X-2011036169.
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