AUTHORS: Nelly Z. Limbadan, Analyn O. Leysa, John Paul G. Martin
KEYWORDS: retirement, retirement resources, life satisfaction
Retirement, as one of the developmental transitions in the work life cycle of any employee, requires equal amounts of planning and adjustment. Investigations around this area have primarily focused on the financial readiness and physical health dimensions of an individual. This study specifically explored the psychological aspect of retirement among retiring and retired employees (n= 48) of the University, with emphasis on their life satisfaction and retirement resources as determined by standardized self-report measures. Respondents’ thoughts, hopes and fears on retirement were also ascertained to provide additional data that the University can utilize in identifying and designing programs and interventions for its employees. Results generally revealed that financial, emotional and social matters are not reasons for concern among the retiring employees. They reported a high life satisfaction rating and currently experience the same levels of enthusiasm and acceptance of personal responsibility with respect to their individual functions in the University. A moderate level of retirement resources (i.e., physical, financial, social, emotional, and motivational) was reported. When life satisfaction and retirement resources were statistically analyzed according to identified moderator variables, a significant difference was found on the variable Position, indicative of the disparity in respondents’ retirement resources rather than in life satisfaction. To psychologically prepare University employees for retirement, the researchers propose a Psycho-Bio-Social Model of Retirement (PBSMR) Preparation Program that can be implemented as early as a decade prior to an employee’s retirement.
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