Systematic Preparation Process and Resource Mobilisation Towards Post-retirement Life in Urban Ghana: An Exploration

Abstract

Older people have many and diverse needs including economic security. But the extended family support system in its present state is inadequate in the provision of protection for the elderly. The paper sought to investigate how the breakdown in traditional pillars of social support for older people is paving the way for newer appreciations such as retirement preparation by individuals. Using mixed methods, qualitative and quantitative datasets were collected from institutions and individual workers, employing key informant and in-depth interviews, and survey. The findings indicate that with the decline in the extended family support system, retirement preparation by the individual is an alternative, if not a complement, to the traditional support system. However, this noble course is impacted by internal and external challenges. Nonetheless, it is recommended that individual Ghanaians must undertake medium to large scale savings towards retirement