FINANCIAL AND SOCIAL ACTIVITY OF TEACHERS’ PRE-RETIREMENT PLANS: PREDICTORS OF EFFECTIVE TRANSITION TO SOCIETY IN SECONDARY SCHOOLS IN ABIA STATE

Abstract

The study surveyed the financial and social activity of teachers’ pre-retirement plans, as the predictors of teacher’s effective transition in secondary schools in Abia State. The study involved a simple random sampling technique of 735 teachers drawn from a population of 3673 teachers of public secondary schools in Abia State. The major findings of the study revealed that teachers’ personal financial plans accounted for 15.8% or .158 of teachers’ effective transition in public secondary schools in Abia State. The study also revealed that teachers’ social activity plans accounted for the coefficient determinism of 9.5% or .095. This showed that teachers’ personal financial and social activity plans account for teachers’ effective transition. A major implication drawn from the findings is that teachers have not been well informed of the importance of retirement planning especially personal financial planning and so it is obvious to counsel and inform them properly on the need to plan for their retirement particularly personal financial and social activity in order to enhance their effective transition to retirement. The study recommended among others, to encourage teachers to make adequate financial plans as soon as they are employed in order to ease their transition to retirement. Teachers should be adequately sensitized and counseled on how to maintain an active social life which could help to ward off feelings of isolation and loneliness that could lead to depression at retirement