Implications of Retirement on Health and Longevity

Abstract

Coping with life changes has been one of the issues threatening human survival. Transitional changes and the associated stress create anxiety and cognitive dissonance for individuals approaching retirement. Retirement beacons on individual’s loss of good health, social security, less cash inflow and wealth. The fear of the unknown and living a retarded life full of financial crisis creates anxiety. Cognitive reconstruction process of adjusting to changes is loaded with crises. The study objectives explored the impact of retirement after active work life. Raise awareness on the need for good policy as well as exposing health and financial implications of retirement.Disengagement theory by Cumming and Henry which explained that men are ready to disengage or retire because disengagement is an inevitable process was used in explanation of variables. Structured and semi structured psychosocial questionnaire and in-depth interview methods were used to gather data. After purposively choosing research area, participants were randomly selected. A total of 789 constituted the sampling frame. The sample size is 300. The study area was delimitated into two different sites where retirees come for monthly meetings. One is at Agbowo shopping complex and the other located inside university of Ibadan About 95% retirees including those who anticipate for disengagement exhibit feeling of shock when confronted with their retirement letters. Although majority are aware of their retirement year, they prayerfully hope that their due date eludes administrators. When the letter finally arrives, they develop intense hatred against management and those who prepared their retirement letter. They respond to change with loss of hope and loss of social relevance.

Keywords:Retirement, Health and Coping strategy