The Psychology of Retirement Readiness and Resources Among The Retired and Retiring Employees of A Catholic University: A Preliminary Investigation Dr. Nelly Z. Limbadan, RP, RPm Ms. Analyn O. Leysa, MS, RPm Mr. John Paul G. Martin, RN, RPm University Research Council Ateneo de Davao University
Aging in the workplace is naturally heralded by one’s withdrawal from the job or an official position commonly known as retirement. Retirement is to give up one’s business or occupation in order to enjoy more leisure or freedom (Denton & Spencer, 2009).
• Retirement is perceived differently by the retirees and those who are about to retire. One study suggests that those who are overly attached to their work developed “lingering identities” from their jobs prior to retirement or during the preretirement years. • Preretirement worker identity has positive effects on adjustment into retirement (Reitzes & Mutran, 2004)
• The lingering effect of the worker identity is even more pronounced in the analysis of self-esteem in retirement. • At six months, one year, and two years into retirement, the preretirement worker identity continues to influence self-esteem for men and for women. This implies that retirees still think of themselves in terms of their former careers. • This also means that even when they no longer occupy the role, their identity lingers.
Nancy Schlossberg: Retire Smart, Retire Happy: Finding Your True Path in Life (2004) • 6 Possible Ways to Approach Retirement • Continuers -They are those who continue to use existing skills and interests. • Adventurers -who start entirely new endeavors. • Searchers -who explore new options through trial and error. • Easy Gliders- because they are the ones who enjoy unscheduled time letting each day unfold. • Involved Spectators- who care deeply about the world, but engage in less active ways. • Retreaters -who take time out or disengage from life.
• Very few explored the psychological arena or dimension of retirement. • These researches are published in economic or finance journals.
Some questions: • What has the university done to prepare for the retirement of its employees? • What are the specific programs and activities that AdDU has put in place? • To what extent has individual employees prepared for this possibly permanent end of an official title? • What are the thoughts, hopes and fears of those who will be retiring in the next five years? • If at recruitment, one is presented with job offers including a 125% computation of retirement package, how are AdDU employees assisted in dealing with the psychological arena of retirement? These are some of the issues that this paper wanted to uncover.
Dealing with Retirement • occupation has defined one’s subjective identity and place in the world. • It is a kind of loss that can leave a person bereft. Even when one feels a certain readiness about retiring, Lazarus emphasized that there will be a sort of deprivation of something that one has been doing in the past 2 or 3 decades. • Then when one turns 60 or 65 in some, they will be stricken off of that role and responsibility. • transition may not be smooth and pleasant because taking away what has defined a person can be devastating . • He acknowledged the fact that in any case, the absence of useful work can threaten a person’s self -respect and involvement in life .
Six Descriptive Phases of Retirement Atchley (2000) Phase V Phase VI Phase III Phase I Phase II Phase IV Retirement Termination of Disenchantment Pre-retirement Retirement Reorientation Routine Retirement
• Pre-retirement. This is the phase prior to the actual retirement experience that usually involves both disengagement from the workplace and planning for what retirement will entail. • Retirement. This phase is composed of three possible paths. • "honeymoon" - feeling and acting as if one is on vacation indefinitely; become very busy doing many of the leisure activities they never had time for previously, especially travel. • "immediate retirement routine" path which adopted by those who already had a full and active schedule in addition to their employment. These individuals easily establish comfortable, yet busy schedules soon after retirement. • "rest and relaxation" path- a period of very low activity as compared to the "honeymoon" path.
• The third phase is Disenchantment. For some people, adjusting to retirement is not an easy experience. Following the honeymoon period or a time of continued rest and relaxation, there may be a period of disappointment or uncertainty. • a person may miss the feelings of productivity they experienced when working. • can also occur if there is a significant disruption in the retirement experience, such as the death of a spouse or an undesired move.
• Reorientation- "take inventory" of their retirement experience and outline ways that will improve their retirement role. • Becoming more involved in community activities, taking up a new hobby or relocating to a more affordable setting may contribute to this "second chance" at retirement. • Retirement Routine - Mastering a comfortable and rewarding retirement routine is the ultimate goal of retirement. • Some adults are able to do this soon after they leave employment, while others take longer, only finding their way after years of extended leisure or a period of disenchantment. Once a fulfilling and comfortable retirement routine has been found, this phase of retirement can last for many years. • Termination of Retirement- Eventually the retirement role becomes less relevant in the lives of older adults. When a person can no longer live independently due to disability or illness, the role of disabled elder becomes the primary focus of his or her life.
Main Theoretical Framework 2012 theory of Atchley (newer/shortened) Phase I Honeymoon Phase II Disenchantment Phase III Reorientation Phase IV Stability
• Prospective retirees' responses, Input narratives, attitudes, hopes, fears, dreams • Standardized Throughput inventory, interviews Output • Recommendations, Interventions
Problem Statements Significant Psychological Demographics Measures Differences • Sex • Life Satisfaction • For Retired • Civil Status • Retirement • For Retiring Resources • Department • Position • Length of Service
Qualitative Aspects Retiring employees’ Retired employees’ thoughts, views, thoughts, views, dreams, hopes and dreams, hopes and fears about the fears about the prospect of retirement realities of retirement
Output Program/ Psychological Thoughts, Demographics Measures views, hopes Intervention
# of Retiring Employees School Year Design 2015 6 • mixed-method design 2016 6 • Surveyed the participants’ demographics 2017 15 • Phenomenological (capture the retiring and some of the 2018 15 retired employees’ inner psychological needs) 2019 8 • Interviewed 7 retiring • Interviewed 2 retired TOTAL 50 Actual n= 49
Demographics Male 17 34.70 Female 32 65.30 Civil Status Single 6 12.20 Married 43 87.80 Department Central Administration 5 10.20 High School 7 14.30 Grade School 10 20.40 College 26 53.10 Law School 1 2.00
Position Academic Personnel- Teaching 16 32.70 Academic Personnel- Non-teaching 2 4.10 Non-teaching Staff 7 14.30 Administrator 12 24.50 Administrative Associate 12 24.50 Length of Service (in years) 5-11 4 8.20 12-18 12 24.50 19-25 5 10.20 26-32 8 16.30 33-39 20 40.80
Life Satisfaction Index for the Third Age Zest for Life More Satisfied Retirement Resources Resolution and More Satisfied Emotional, Moderate Fortitude cognitive, Congruence of More Satisfied Goals and motivational Self-Concept Less Satisfied Mood Tone More Satisfied Social Moderate Health & Moderate Fitness
• On the average, respondents reported moderate scores in all of the resources measured. • Generally, there is no cause or reason for concern among the retiring employees when it comes to financial, emotional and social concerns. • In terms of life satisfaction, respondents had higher mean scores compared to the LSITA norm, meaning higher life.
Difference in Life Satisfaction when analyzed according to the moderator variables Retirement Resources Inventory Life Satisfaction Index for the Third Age Variable P-value Decision Variable P-value Decision on H 0 on H0 Sex .748 Accept Sex .651 Accept Civil Status .535 Accept Civil Status .507 Accept Department .167 Accept Department .469 Accept Position .079 Accept Position .016 Reject Length of .477 Accept Length of .186 Accept Service Service
Life Satisfaction and Demographics • revealed no significant differences. • This indicates that in the specific stage in their careers at present, they reported the same levels of enthusiasm, acceptance of personal responsibility and happiness.
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