Perception of retirement by teachers in public secondary schools in Nairobi County

Abstract

The purpose of this study was to establish the perception of retirement by teachers in public secondary schools. In Kenya, like many other countries, retirement especially in the public service is mandatory after attaining 60 years of age. Teachers retire after attaining 60 years of age, which is the mandatory retirement age. The major problem is that the majority of the teachers are not ready to stop working until they reach 60 years of age. Majority of the teachers are not prepared for retirement and this causes stress and anxiety. Majority of the teachers take long before they receive their pension benefits after retirement. The study used the descriptive survey research design. The selected sample size was 13% of the total population. The questionnaires were used as the data collection instrument. Once the questionnaires were administered and collected, the data was analyzed using descriptive statistics based on the objective of the study. The study found out that majority of the teachers would like to retire at the age of 60 years because it is the mandatory age of retirement. It was pointed out that majority of the teachers are not prepared for retirement and retirement causes stress and anxiety to the retiree especially if not prepared. In order to solve the above problems, various solutions were raised. First, the teachers should invest early and save to be comfortable during retirement. Teachers should be taught financial management to enable them manage their finances, know the areas to invest in to reap maximum benefits out of their investments. In order for teachers to be comfortable during their retirement days, they suggested that their pay should be improved to enable them to save and to increase their pension. In conclusion, they suggested that the pension should be released immediately after retirement.