Determinant and Implications of Working Past Retirement Age among Adult Working Population in Government Parastatals in South West Nigeria (Published)
The study examined the determinant factors and implications of working past retirement age among working population in government parastatals in south west Nigeria. The research was prompted by growing apprehension of many would-be retirees about the poor pension scheme and ugly experiences of retirees among other factors which pre-mediated their unwillingness to retire voluntarily or as at when due. The population of this study comprised of male and female employees of government ministries and parastatals in south west Nigeria. A sample of 300 personnel was selected through multi-stage sampling procedure which covers male and female workers. A validated instrument titled ‘Determinant and implications of Working Past Retirement Age Scale’ (DIWPRAS) was used to obtain data from the respondents. The reliability coefficient of the instrument was 0.68, using Pearson Product Moment Correlation. The data collected were analyzed using descriptive statistics to analyze the research questions. The results revealed that the negative perception of traumatic feelings, isolation, worrisome experiences by present retirees and pervasive corruption in the pension scheme among others are the reasons why some employees defer their retirement. The result also indicated that men prefer working past retirement age than their female counterpart due to men’s primary identification as economic provider. However, some experienced professionals are retained in workplaces beyond their retirement age because of their expertise and years of cognate experience. Appropriate recommendations were advanced in line with these findings.