Want to retire happily? Here’s the plan

It took Matata a few moments to realise the predicament he was in. All along, he had planned to retire at the organisation’s mandatory retirement age of 60, which would be in five years’ time.

All this changed when the management decided to redeploy him and other clerks to the new branch of the organisation, some 50km away. He realised that he had to make a decision on whether to take up the new job or go for early retirement.

Matata felt he should hang on, partly because of the huge mortgage he was paying for his house, besides the fact that he would not afford to pay for his children’s education. In addition, he was not sure that he would be able to cater for his family’s health needs either, if he retired.
He ruled out commuting to his new place of work daily because he could not afford the fare. Besides, he had a problem with his back, which had been precipitated by travelling. He again started considering the option of retiring instead of relocating.

Matata wondered how he would service the loans and mortgage. He approached Jipange, the human resources manager, for advice.

The manager asked him if he had planned for retirement or if he had a vision of his life after retirement. Matata sounded unsure.

Jipange said to him: “Many employees do not know that retirement planning should start as soon as they are employed. Most employees wait until they are almost due for retirement before planning for it. Planning for retirement is much more than just considering the savings you need to live on after you stop working.”

Jipange continued: “On the positive side of things, retirement gives one a chance to do the things they had always wanted to do but did not have the time. It should be viewed as a positive process that requires planning.

“Some of the factors that every employee should consider include post-retirement needs, such as health care, finances and lifestyle changes. Preparation for retirement also includes planning for the education of dependants who may still be in school”.

Jipange explained that all potential retirees needed to become acquainted with the people and communities they would be spending their retirement period with so as to reduce feelings of alienation.

He said: “In some cases, retirement might mean moving to the rural areas. You will find that people who have never taken the time to build rapport with those in the village feel alienated. It is therefore wise to start creating networks with those you will be living on retirement.

“There is also the need to get pre-retirement counselling since the move from employment to retirement is a major transition. If not handled well, it may lead to stress and even death. This is because a job is much more than a salary. It gives one status and an identity. Few ever stop to think about the implications of no longer being in employment.

“One of the main challenges as a result of retirement is perceived loss of status. It helps if one has support from friends and family members as they make the transition. Each employer should organise pre-retirement training workshops for all members of staff, not just the older ones.

Jipange concluded: “It pays to hone one’s skills and identify areas of interest well in advance because such skills can be channelled into meaningful careers after retirement. This ensures that employees will spend their retirement years in a fulfilling manner, making retirement years productive and enjoyable.”

Now, do you think Matata should retire or try working in his new office?

Dr Kithinji is a trainer and consultant at the Kenya School of Government, Nairobi