Nature of Retirement
Retirement in a factual sence means many things to many people. To many people, they are gripped with fear as they move towards retirement or as they are informed about an inpending retirement. While many see it as an end of a happy life, others see it as the end to an active service and still to some others they see it as drawing the curtain of a useful life to a close and the emergence of a cloud of sorrow of mergre benefits, isolation, loneliness and so on has come.
Retirement does not have to mean the end of a productive life for anyone but a period of adjustment. It can be said to mean the termination of a pattern of life and a transition into a new life.. A withdraw from customary life or activities in business, industry or service.
Forms of Retirement:
Retirement can be group into three (3)main categories namely:
Voluntary Retirement: This is a form of an early retirement which is often determined by the employee rather than the employer.
Compulsory retirement: This can be seen as d retirement decided by the employer against the will of the employee. It comes when the employee is not prepared for it.
Mandatory or Statutory retirement: This is a type of retirement that can be described as the normal, known or expected type of retirement. This is the type of retirement in which the conditions has been clearly set out for workers.
Factors Leading to Retirement:
The commonest factor is Age.
deterioration in performance
Evidence of skills becoming irrelevant in the new scheme of things.
Length of service
Economy pressures
An individual found to be involved in work place malpractices.
Problems Associated With Retirement:
The following among others are problems that can be associated with retirement.
Boredomnes: boredom is usually associated with retirement as going from working full time to not working at all can make one to become bored.
Financial challenges: Many retirees, especially those who did not plan well ahead of their retirement are often faced with financial woes.
Health Issues: another problem of retirement is health problem as it can wreck even the most carefully planned retirement.
Weight gain: many retirees are faced with the challenge of gaining weight as a result of less or no activities.
Planning ForRetirement
The possible crisis or woes of losing ones job to retirement can be reduced or even avoided if proper strategic retirement planning can be put in place.
The decision for retirement must be followed by careful planning inorder to have a favorable and comfortable retirement.
Dimensions of retirement planning:
Financial planning
Residential planning
Social planning.
4 .psychologica planning
Spiritual planning
Investment planning and so on.
Conclusion: Retirement is inevitable for every worker as one thing or the other will make one to rest from work but wether one will enjoy or endure this season of rest or transition is largely dependent on how well the retirement was adequately planned for or Wii be carefully planned for.