Utilizing Retirement Planning as Leverage for Age Reduction among Workers

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Suggested Citation: Dovie, D. A. (2019). Utilizing Retirement Planning as Leverage for Age Reduction among Workers. In Ł. Tomczyk & A. Klimczuk (Eds.), Between Successful and Unsuccessful Ageing: Selected Aspects and Contexts (23–57). Kraków: Uniwersytet Pedagogiczny w Krakowie. DOI: 10.24917/9788395373718.2

DELALI ADJOA DOVIE1 Utilizing Retirement Planning as Leverage for Age Reduction among Workers Abstract: Preparedness inadequacy for the retirement transition is one of the critical reasons for age reduction. This chapter examines retirement planning as a leveraging strategy and vibrant remedy for age reduction using quantitative data obtained from formal and informal sector workers (N=442). The findings show that retirement plans are categorized into short-term, medium, and long-term plans. Collectively, these yield income, health, housing, social networks, leisure, and paid work beyond pensions. Post-retirement income is a significant determinant of the retirement decision. Retirement planning can be used to leverage the lack of preparedness for retirement, which in turn reduces the activity of age reduction. This averts dependency in old age and creates the avenue for successful ageing, which is often heralded by the retirement transition. Further, not planning for retirement and the associated act of age reduction is an indication of the nonacknowledgment of the notion of active ageing. Noteworthy is that age reduction is a portrayal of old age as a shameful loss of youthfulness. This chapter argues that planning for 1

Delali Adjoa Dovie, University of Ghana, Ghana, dellsellad@gmail.com


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