The retirement journey (1): Concept and perception

By John S. QUAISIE

Retirement seems to be an unpopular concept or term in the African labour market and in the society in general.  At the workplace, many workers try to push the idea of retiring as far back in their minds as possible.  Young people may make fun of the whole idea of retirement.

For some people who are approaching the critical age of retirement, it could be a time of great expectation. As for many would-be retirees, however, it is a subject that evokes deep emotion, anxiety and fear; something that seems to interrupt a nice dream.

The African environment

Most people in developing countries are apprehensive of what the future holds for them in the area of retirement.  As a result, countless workers have had to face a stark reality of serious socio-economic challenges, at a time when they were the least prepared for it.  In an attempt to avert an impending challenge, some older citizens have tried to change their date of birth, to make them appear younger in the books.

Developed countries

The picture seems to be quite different in more developed countries, where retirement is generally perceived more positively – especially in terms of socio-economic support.  The average European or American worker looks forward to their retirement as an opportunity to break from a strict work routine for more freedom to do what they enjoy most.

It is therefore not surprising that many retired persons from industrialized countries travel to other continents for recreation and to experience new cultural realities.  Many of such retirees travel as tourists to Africa, to visit famous monuments like the great pyramids of Egypt and beautiful and unique natural structures like Africa’s highest mountain, Mt. Kilimanjaro in Tanzania.

On the contrary, the number of retired Africans who travel as tourists to other continents is negligible.

Addressing the basic needs

The factors that contribute to successful retirement are both extrinsic and intrinsic in nature.  Although adequate financial resources play a major role in ensuring good retirement life, there are other critical factors which need to be addressed.

Abraham Maslow, a world-famous psychologist, sums up these intrinsic and extrinsic needs in his original Hierarchy of Needs model which was first widely published in Motivation and Personality  in 1954.  According to Maslow, every human being is motivated by some important basic needs which are inborn; and it is only when we have adequately satisfied our lower order needs of physical and emotional well-being that we can move to the higher order needs of influence and personal development.  As long as the lower basic needs remain unsatisfied, we cannot, in reality, address our higher order needs.

Maslow’s Hierarchy of Needs has serious implications for the would-be retiree.  The average worker who desires to reach the higher levels of esteem and self-actualization, must be able to satisfy the lower levels of needs which would include food and shelter, health and security, family relationships, and social connectedness.

Obstacles to fulfillment

The inability on the part of the would-be retirees to address the basic needs for themselves and their families could present serious challenges, including emotional stress.  When an individual is able to satisfy the lower needs and move to the higher ones, they are likely to experience greater fulfillment and satisfaction during the retirement period.

Competing factors

The average worker in Africa and elsewhere in the world needs to invest adequate resources to satisfy their fundamental needs, by the time they attain the retirement age.  The challenge becomes even more complex when the African retiree has to address the needs of their immediate family as well as those of the extended family members, who may consider them as an important source of assistance.

When I was a teenager, my friends and I understood ‘pension’ to be a positive term associated with great financial benefits.  We saw some family members of would-be retirees expressing great expectation at the financial package, which would accompany their newly retired members.

When people actually step into the reality of retirement, they are often overwhelmed by the socio-economic responsibilities which confront them.

Laying the right foundation

Despite the challenging situation which African retirees are confronted with, some people – including low-income earners – have been able to make it by working hard to lay a solid foundation for future progress.

This group of people envisions the future at the early start of their work life and they find efficient, creative and innovative ways to add value to the services they render to their family, community, workplace and their nation.  They make the needed sacrifices and investment in anticipation of an enjoyable and fulfilled life in retirement.

Written by:

John is an HR/Management Practitioner

Phone/WhatsApp: 0244599628

E-mail: [email protected]

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