RETIREMENT EDUCATION AS A PANACEA TO PROBLEMS ASSOCIATED WITH RETIREMENT OF PUBLIC SERVANTS IN NIGERIA
Dr. H. Bena Buku
Journal of Inter-Disciplinary Studies on Contemporary Issues 2016 2(1), 135-140. Published: July 22, 2016
Public servants in Nigeria dread life after retirement and respond to it in a variety of ways. Most of them attempt to evade retirement and its implication by recurrent declaration and re- declaration of their ages. Most others engage in corrupt practices, involving, amassing illegal wealth or embezzling public money so as to overcome the financial reality of life after retirement. The American Medical Association noted that: â€œThe Cessation of productive work and earning power of an individual caused by compulsory retirement at the chronological age of 65 often leads to physical and emotional deterioration and premature death â€œ. The preoccupation of this paper is twofold: first is to highlight the post-retirement challenges of the Nigerian public servants as loss of income arising from stoppage of work and delay in payment of gratuity and pension, and absence of health insurance/housing facilities; second, to suggest the introduction of retirement education dealing with plans to alleviate such challenges.