Factors influencing the decision not to retire among the retiring personnel of Iloilo Provincial Government

Abstract

This study was conducted primarily to determine the factors influencing the decision not to retire among the retiring personnel of Iloilo Provincial Government and to find out the relationship between the factors occupational, economic and psychological and their decision not to retire. The study utilized the one-shot, researcher-made questionnaire. The enumeration method was utilized by purposely determining the 75 retiring personnel with age ranging above 60 but below 65 years old as respondents. The level of statistical significance was set at 0.05. Results showed that when the retiring personnel was categorized in terms of gender, civil status, office, length of service and monthly salary, majority of the retiring personnel were females, were mostly married, have been serving the office for 36 to 40 years, had a monthly salary ranging 20,000 and below and mostly from the General Services Office (GSO). The occupational factor was found to have a strong extent of influence in the decision of the retiring personnel not to retire before the age of 65, while economic and psychological factors were found to have a moderate extent of influence. The result showed that a little less than half (41.3%) of the retiring personnel were firm in their decision not to retire before the age of 65 even though their concerns were already satisfied. A significant result with a low correlation was noted between the psychological factor and decision not to retire among the retiring personnel. This finding was supported by the results of Cramer’s V. The result was interpreted using Garrett’s Interpretation of Coefficient of Correlation. It was recommended that retiring personnel should be encouraged to attend programs, training and seminars to prepare them for the soon transition. The organization should revisit existing programs conducted focusing on psychological factors and well-being of the retirees to develop post-retirement plans.