University of Ghana http://ugspace.ug.edu.gh DEPARTMENT OF ADULT EDUCATION AND HUMAN RESOURCE STUDIES SCHOOL OF CONTINUINING AND DISTANCE EDUCATION UNIVERSITY OF GHANA, LEGON RETIREMENT PREPARATION OF ORDAINED MINISTERS OF THE PRESBYTERIAN CHURCH OF GHANA BY ESTHER AGBODEKA (MRS.) 10214850 THIS THESIS IS SUBMITTED TO THE UNIVERSITY OF GHANA, LEGON IN PARTIAL FULFILLMENT OF THE REQUIREMENT FOR THE AWARD OF DOCTOR OF PHILOSOPHY ADULT EDUCATION DEGREE JULY, 2018 University of Ghana http://ugspace.ug.edu.gh DECLARATION I, Esther Agbodeka, hereby declare that, except for the references cited in this thesis which have been duly acknowledged, this research was conducted by me personally over a period of three years under the supervision of Professor Michael Ayitey Tagoe, Dr. Samuel Kofi Badu-Nyarko and Rev. Dr. Ofori Abamfo Atiemo, all of the University of Ghana, Legon. This thesis has neither in part, nor as a whole, ever been presented for the award of any degree in this University and any university elsewhere. However, where quotations from other published works have been made, due references have been cited and appropriate recognition has been acknowledged. …………………… ………………….. Esther Agbodeka Date (Student) Counter-Signed Signature Date Prof. Michael Ayitey Tagoe ………………………. ………………..… (Lead Supervisor) Dr. Samuel Kofi Badu-Nyarko ……………………..... ………………..… (Supervisor) Rev. Dr. Ofori Abamfo Atiemo ………………………. …………..……… (Supervisor) i University of Ghana http://ugspace.ug.edu.gh DEDICATION To my dear husband Mr. Theophilus Agbodeka, and my children, Joyce Tetteki, Jennifer Tettekworh, Esther Queen Mawulorm, Theophilia Mawufemor and Ivon Mawudromi-Chief Agbodeka, who have supported me with prayers and encouragement throughout the research. ii University of Ghana http://ugspace.ug.edu.gh ACKNOWLEDGEMENT I wish to express my profound gratitude to my supervisors, Prof. Michael Ayitey Tagoe, Dr. Samuel Kofi Badu-Nyarko and Dr. Ofori Abamfo Atiemo for their immense help in supervising this work as well as their encouragement, comments and helpful suggestions and guidance. Another appreciation goes to the Graduate Committee of the School of Continuing and Distance Education for their support. A plethora of thanks to the immediate past Moderator of the General Assembly Office of the Presbyterian Church of Ghana, the Very Rtd. Rev. Prof. Emmanuel Martey, and the entire General Assembly Office of the Presbyterian Church of Ghana. I am also grateful to all the Ordained Ministers who availed themselves to be interviewed as well as to the top management members who offered essential information for this research. Another gratitude goes to Dr. Philip Tabong of the University of Ghana, Legon and my good brothers Pastor Davis Aweso and Armstrong Ephraim Awinbugri, who edited and typed the research work. I am very grateful to the Lord Almighty who saw me through this work by His sustaining grace and love. iii University of Ghana http://ugspace.ug.edu.gh ABSTRACT The research is on retirement preparation of Ordained Ministers of Presbyterian Church of Ghana. The purpose of the study was to explore issues on retirement preparation of Ordained Ministers of Presbyterian Church of Ghana. The fundamental objective of this study was to examine retirement preparation among Ordained Ministers of the Presbyterian Church of Ghana. The population of Ordained Ministers in the Presbyterian Church who were in Active Service and have Ten (10) years or less to retired at the time of study were 280. Retired ministers who have retired five (5) years or less were 80 and five (5) top management officials were selected from the General Assembly Office of the church. Sample size for Ordained Ministers in active Service was twenty-eight (28) ministers and eight (8) retired ministers due to saturation and five (5) top management officials. The retired ministers were used as a guide and reflection. Sampling Technique was Purposive Sampling and data collection was in-depth interview through face to face and telephone interview were the two strategies used. The Data Collection Tool was un-structured interview guide. The interviews were recorded and transcribed verbatim and transcripts were imported in Nvivo 11 for themes. Data analysis was done through Thematic Analysis by Braun and Clarke (2006) prescribed six steps to carry thematic analysis. The researcher found out that the practice of planning was greatly contingent on the type of Ordained Ministers and their monthly allowance they received. The part time or (Tent) Ordained Ministers who worked as professionals and performed additional Ministerial duties in the church were entitled to National Pension Schemes. However, non-Tent Ministers who are full time workers relied on their personal savings for financial planning. Psychologically, Ministers made little preparation because of the absence of retirement policy in the church. This had therefore created anxiety and a iv University of Ghana http://ugspace.ug.edu.gh state of uncertainty about retirement. Socially, most Ministers acquired their own accommodation and also invested in their children education as a form of social security. The study further found that Retired Minsters had to depend on their extended social relations to meet their financial and social needs during retirement. The absence of such social support resulted in psychosocial and financial challenges during retirement. The study also found that Retired Ordained ministers who planned their retirement well were enjoying their retirement. It was therefore recommended that Housing Scheme should be instituted by the church to assist minister to acquire their own houses before retirement to relief them with accommodation challenges. The Presbyterian Church of Ghana is encouraged to develop a comprehensive policy on retirement for both ordained minsters and various workers in the church. This policy would guide ministers and other workers to plan and prepare well for adequate retirement in future. Furthermore, the existing provident fund and insurance scheme for full-time ministers should be extended to the Tent Minister. The church should take the Social Security and National insurance Trust (SNNIT) contributions of its Ministers seriously as a way of planning and preparing ministers who sacrifice their all for Gods work. The retirement packages given to the ministers at the end of service should also be revised and given a boost to enhance workers retirement. Also it was recommended that there should be scholarship for Ministers who accept posting to deprived areas in Ministry’s Children to motivate them. v University of Ghana http://ugspace.ug.edu.gh TABLE OF CONTENTS DECLARATION ....................................................................................................i DEDICATION ..................................................................................................... ii ACKNOWLEDGEMENT .................................................................................... iii ABSTRACT .........................................................................................................iv TABLE OF CONTENTS ......................................................................................vi LIST OF FIGURES ............................................................................................... x LIST OF TABLES ................................................................................................xi LIST OF ACRONYMS ....................................................................................... xii CHAPTER ONE .................................................................................................... 1 INTRODUCTION ................................................................................................. 1 1.1 Background ........................................................................................................1 1.2 Statement of the Problem ...................................................................................9 1.3 Purpose of the Study ........................................................................................11 1.4 Research Objectives .........................................................................................12 1.4.1 General Objective ......................................................................................12 1.4.2 Specific Objectives ....................................................................................12 1.5 Research Questions ..........................................................................................12 1.6 Significance of the Study .................................................................................13 1.7 Organisation of the Study ................................................................................14 CHAPTER TWO ................................................................................................. 16 2.0 THEORETICAL FRAMEWORK AND REVIEW OF RELATED LITERATURE .................................................................................................... 16 2.1 Introduction ......................................................................................................16 2.2 Theori es of Reti rement Preparati on ..................................................................16 2.3 Theoreti cal Underpi nni ngs and Conceptual Framework for the Study ..........18 2.3.1 Soci al Cogni ti ve Theory (SCT) ..................................................................19 2.3.2 The Resource Dependent Theory (RDT).....................................................20 2.3.3 Li fe-Cycle Theory .......................................................................................23 2.4 Review of Related Literature .............................................................................32 vi University of Ghana http://ugspace.ug.edu.gh 2.5 What is Retirement Planning? .........................................................................37 2.6 Types of Retirement Planning Approaches ........................................................47 2.7 Psychologi cal Preparati on for Reti rement.........................................................50 2.8 Economi c and Financi al Preparati on for Retirement ........................................57 2. 9 Soci al Preparati on for Reti rement ....................................................................65 2.10 Spiritual Preparation for Retirement ................................................................68 2.11 Trai ni ng Programmes for Retirement Preparation ..........................................69 2.12 Elements of Retirement Planni ng ....................................................................74 2.13 Factors that Affect Adjustment Towards Reti rement ......................................75 2.13.1 I ncome .......................................................................................................75 2.13.2 Number of Dependents ..............................................................................76 2.13.3 Educati on ...................................................................................................77 2.14 Challenges of Pre-reti rement Planni ng ............................................................77 2.15 Gender Di fference i n Reti rement Planni ng and Experi ence ..........................80 2.16 Conceptual Framework ....................................................................................80 CHAPTER THREE ............................................................................................. 83 METHODOLOGY .............................................................................................. 83 3.1 Research Desi gn ..............................................................................................83 3.2 Phi losophi cal Underpi nni ngs ..........................................................................87 3.3 Study Area ..........................................................................................................91 3.4 Study Populati on..............................................................................................95 3.5 Sample Si ze Determi nati on .............................................................................95 3.6 I nclusi on and Exclusi on Criteri a ....................................................................96 3.7 Selecti on of Study Parti ci pants .......................................................................96 3.8 Data Collecti on Strategy ..................................................................................97 3.9 Data Collecti on Tool .......................................................................................97 3.10 Quali tati ve I n-Depth I ntervi ews .....................................................................98 3.11 Admi ni strati on of I nstruments ........................................................................99 3.12 Fi eld Notes .......................................................................................................99 3.13 Data Analysi s .................................................................................................101 3.14 Ensuring Rigour .............................................................................................103 3.15 Quali ty Control Measures Adopted ...............................................................105 vii University of Ghana http://ugspace.ug.edu.gh 3.16 Ethi cal I ssues .................................................................................................106 3.17 Limitations .....................................................................................................108 3.18 Delimitation ....................................................................................................108 CHAPTER FOUR.............................................................................................. 109 RESULTS OF THE STUDY .............................................................................. 109 4.1 Background Characteri sti cs of Respondents .................................................109 4.2 Soci o-demographi c Characteri sti cs of Management Members ....................111 4.3 Soci o-demographi c Characteri sti cs of Reti rees ...........................................112 4.4 Themati c Analysi s ...........................................................................................113 4.5 Psychologi cal Preparati on of Ordai ned Mi ni sters for Retirement ...............113 4.5.1 Fi nanci al Preparati on of Ordai ned Mi ni sters for reti rement .................119 4.5.2 Soci al Preparati on of Ordai ned Ministers for Reti rement ......................126 4.6 Avai labi li ty of Reti rement Schemes i n the Church ......................................130 4.7 Trai ni ng of Mini sters on Retirement Planni ng .............................................136 4.8 Factors Affecti ng Pre-reti rement Preparati on of Mi ni sters of the Presbyteri an Church of Ghana ....................................................................................................139 4.9 Post-retirement Experi ence of Mi ni sters of the Presbyteri an Church of Ghana ........................................................................................................................142 4.10 Ways to I mprove Reti rement Preparati on .....................................................147 CHAPTER FI VE ............................................................................................... 149 DI SCUSSI ON ................................................................................................... 149 5.1 I ntroducti on ...................................................................................................149 5.2 Pre-Retirement Planning Training Programmes ..............................................149 5.3 Fi nanci al Preparati on for Reti rement: Type, Barri ers and Effects on Li fe after Reti rement ..............................................................................................................151 5.4 Psychologi cal Preparati on for Reti rement ....................................................154 5.5 Soci al Preparati on Towards Reti rement .......................................................155 5.6 Fami ly Support and Reti rement Among Mi ni sters .........................................156 viii University of Ghana http://ugspace.ug.edu.gh CHAPTER SI X ................................................................................................. 165 SUMMARY FI NDI NGS, CONCLUSI ON AND RECOMMENDATI ONS ......... 165 6.1 I ntroducti on .....................................................................................................165 6.2 Purpose of Study and Methodology .................................................................166 6.3 Summary of Fi ndi ngs ......................................................................................167 6.4 Conclusi on .....................................................................................................167 6.5 Recommendati ons .........................................................................................169 6.5.1 I mpli cati ons of the Study for Adult Educati on Practi ce ..........................170 6.5.2 I mpli cati ons of the Study for Human Resource Development .................170 6.5.3 I mpli cati ons of the Study for Advocacy ...................................................171 6.5.4 Contribution to Knowledge......................................................................171 6.5.5 Areas for Further Studi es ..........................................................................171 REFERENCES .................................................................................................. 174 APPENDI CES .................................................................................................. 198 Appendi x 1: Consent Form ....................................................................................198 Appendi x 2: I ntervi ew Gui de for Mi ni sters i n Acti ve Servi ce ..........................201 Appendi x 3: I ntervi ew Gui de for Reti red Mi ni sters ............................................203 Appendi x 4: I ntervi ew Gui de for Management and Admi ni strators of the Church ... ........................................................................................................................205 Appendix 5: Manual 0n Retirement Planning and Preparation of Ordained Ministers in the Presbyterian Church of Ghana, other Institutions and Organisations ..........208 Appendix 6: Introductory Letter ............................................................................215 Appendix 7: Coded Book for Management Members of The Presbyterian Church of Ghana .....................................................................................................................216 Appendix 8: Coded Book for Retired Ordained Ministers of Presbyterian Church of Ghana .....................................................................................................................229 Appendix 9: Coded Book for Ordaianed Active Ministers of the Presbyterian Church of Ghana ....................................................................................................242 ix University of Ghana http://ugspace.ug.edu.gh LIST OF FIGURES Fi gure 1: Soci al Cogni ti ve Theory ............................................................................. 19 Fi gure 2: Resources Based Theory for Reti rement ..................................................... 22 Fi gure 3: Conceptual Frame Work For Retirement Preparation for Mi nisters of Presbyteri an Church. ................................................................................... 82 Fi gure 4: Map of Ghana............................................................................................... 92 Fi gure 5: Contextual Issues on Retirement Planning. ............................................... 163 x University of Ghana http://ugspace.ug.edu.gh LIST OF TABLES Table 1: Di stri buti on of Mi ni sters of the Presbyterian church of Ghana ................... 94 Table 2: Themes ......................................................................................................... 102 Table 3: Emerging themes ......................................................................................... 103 Table 4: Soci o-demographi c Characteri sti cs of Mi ni sters of the Presbyterian Church of Ghana i n Acti ve Servi ce ...................................................................... 110 Table 5: Soci o-demographi c Characteri sti cs of Management Members of the Presbyterian Church of Ghana .................................................................. 111 Table 6: Soci o-demographi c Characteri sti cs of Reti ree Mi ni sters of the Presbyterian Church of Ghana ....................................................................................... 112 xi University of Ghana http://ugspace.ug.edu.gh LIST OF ACRONYMS Acronym Meaning ESB End of Service Benefits NRCD National Redemption Council Decree PCG Presbyterian Church of Ghana SSNIT Social Security and National Insurance Trust xii University of Ghana http://ugspace.ug.edu.gh CHAPTER ONE INTRODUCTION 1.1 Background Globally, retirement is one of the major life transitions that symbolizes entering into a new period in life. Retirement can mean different things to different people the world over. According to the Hong Kong and Shanghai Banking Corporation (HSBC, 2015) report, while some may view retirement as a time to relax after a life of work, others may do things they never had the chance to do when they were younger. The report further posited that others may see retirement as an opportunity to support their children as they take important steps in their adult lives - buying their first home or having children of their own. However, for many people around the world, these aspirations may not be easy to achieve as the financial reality of life after work is less rosy. Today, the reality of retirement is complex. HSBC (2015) argues that working age people asp ire to enjoy well-earned years of rest and recreation, but are concerned about how they will fund their retirement years. HSBC (2015) believes that ensuring a good standard of living in retirement is a big concern. Statistics of the HSBC (2015) re iterates that approximately a third (34%) of working age people doubt that they will be able to mainta in a comfortable standard of living in retirement. HSBC (2015) further posits that many are worried about running out of money (69%) and about having enough money to live on day-to-day (66%).  In add it ion, nearly a quarter (23%) expect their standard of living  in retirement will be worse than their standard of l iving today, with working age people feeling particularly gloomy  in the developed economies of France (54%), the UK (40%), Hong Kong (40%) and Australia (39%) (HSBC, 2015). 1 University of Ghana http://ugspace.ug.edu.gh Mandatory retirement age varies from country to country, and even with in the same country it may still vary based on occupation and gender. Generally, the retirement age ranges between 55-75 years (Skoog & C iecka, 2010; Vo et al., 2015) but for Ghana  it is 60 years for statutory retirement and 55 for voluntary retirement. As one retires, she/he parts from a s ignificant act iv ity that affects many of h is/her l ife domains. Ret irement  is often accompan ied by a decl ine  in l ife-sat isfact ion, self-evaluat ion, and quality of l ife (Dingemans & Henkens, 2015; Hershey & Henkens, 2014). Mov ing  into ret irement  is a major l ife event and a successful adjustment to th is cr it ical stage  is  important for ma inta in ing a good qual ity of l ife  in old age (Damman, Henkens & Kalm ijn, 2015; Fro idevaux, H irsch i & Wang, 2016). Accord ing to a report by Un ited Nat ions (UN, 2002), ret irement should not be seen as a stage  in one’s l ifet ime that h inders or stops the ret iree from cont inu ing be ing creat ive and capable of contr ibut ing to soc iety. Thus, hav ing adequate cop ing sk ills  in the trans it ion to ret irement can pos it ively  influence the outcome of th is trans it ion. Ret irement should normally be a per iod of rest from the stress and exert ion of work, when one spends most of one’s t ime w ith the fam ily, w ith old school mates and, of course,  in bed (D ingemans & Henkens, 2015). Hav ing spent 30 to 40 years  in full t ime employment, one would normally be expected to have la id the foundat ion for f inanc ial stab il ity, w ith a pens ion  income act ing as back-up. The real ity today, however,  is much d ifferent. Most of our ret ired countrymen are poor, needy and dest itute, and are dependent on the meagre payment from the pens ion scheme, wh ich they often struggle to draw every month (Novy-Marx & Rauh, 2009). 2 University of Ghana http://ugspace.ug.edu.gh  In many countr ies both developed and develop ing, governments recogn ize the need to prov ide pens ion funds to take care of the age ing populat ion, the dependents of a breadw inner  in case of h is or her death or the breadw inner  in case of  inval id ity through acc idents at work, etc. Pens ion funds  in most countr ies are managed by government  inst itut ions or pr ivate f irms (Gökçen & Yalç in, 2015; Organ izat ion for Econom ic Co- operat ion and Development, OECD, 2013). Gökçen and Yalç in (2015), as well as the Organ izat ion for Econom ic Co-operat ion and Development (2013), further op ined that there  is cons iderable concern about soc ial protect ion, espec ially pens ion and ret irement  issues  in both the developed and develop ing countr ies. The major ity of ret irees  in Ghana and other develop ing countr ies l ive on low pens ion  incomes, and the ir seem ing neglect  is an  ind ictment on how soc iety values the ir contr ibut ion (Akuamoah-Boateng, 2013). The gradual deterioration of social protect ion and the  increasingly serious economic plight of the elderly have, therefore, attracted the attention of world bodies  including the United Nat ions, the World Health Organizat ion (WHO), governments, researchers and charitable organizat ions (Ekerdt, Koslosk i, & Dev iney, 2000). Thus, attaining the age of retirement can be disappointing. Marketers dangle high-end consumption before the eyes of prospective retirees: forms of housing, travel, tour ism, recreation, and the means to indulge grandchildren. Few people attain a “home-on-the-fairway” retirement or can sustain such consumption past the first decade of retirement (Erv in, Faulk & Smol ira, 2009). According to Evans (2014), retirement has the capacity to disappoint because it eventually fades into the fourth age or “deep old age” of disability and physical decline.  Indeed, at this stage of life there arises the expense of long term care, for which one really needs to save: yet this form of consumption remains quite  invisible 3 University of Ghana http://ugspace.ug.edu.gh  in the lifelong promotion of ret irement. Retirement preparation programmes have since been recommended as a means of curbing the aforementioned menace (Evans, 2014). Evans (2014) further posits that ret irement preparat ion programmes aim to form a real ist ic percept ion of ret ired l ife and reduce anx iety about ret irement. The degree of cons istency between  ind iv iduals’ pre-and post-ret irement activities  is affected by the ir formal and  informal plann ing, econom ic status, health, and occupat ional goal atta inment (Beehr & Bennett, 2014).  In the ir rev iews of early stud ies, Beehr and Bennett (2014) cla imed successful pre-retirement programmes have s ign if icant  impact on ret irement sat isfact ion. Sign if icant d ifferences exist between the perceived life satisfact ion of ret irees who participated  in pre-ret irement programmes as compared to those who d id not (Anne et al., 2008; Muratore & Earl, 2015). A study on ret irement satisfact ion and experiences found that ret irement saving and planning had a posit ive relationship w ith retirement exper ience and sat isfact ion (Van Roo ij, Lusard i & Aless ie, 2011). Research suggests that better psycholog ical health, h igher  income, and be ing marr ied predict better retirement adjustment (Fad ila & Alam, 2016).  Inspite of the need for  individuals to plan their retirement, a study conducted by Lee and Law (2004) among citizens of Hong Kong revealed that the respondents were not adequately prepared for retirement. The researchers bel ieved that plann ing for retirement must be seen as part of long-term planning, which  is  influenced by a complex web of marital, social, cultural and psychological factors (Lee & Law, 2004). They posit that those who prepare for their ret irements have more pos it ive outcomes  in ret irement than those who do not plan. Ahmad, Masud, and  Ibrah im (2013) observed that 75% of the  ind iv iduals who had thought about ret irement and made subsequent 4 University of Ghana http://ugspace.ug.edu.gh substant ial plans reported be ing very sat isf ied w ith the ir ret irement, w ith 55% who had not planned at all rated h igh d issat isfact ion w ith the ir l ife  in ret irement. Stud ies on pre-ret irement plann ing are conducted on f inanc ial and econom ic aspects, however, researchers agree that  it should  include other doma ins such as psychosoc ial and phys ical changes (Ahmad, Masud &  Ibrah im, 2013). Preparing financially for retirement is useful in easing one’s transition from work to retirement due to a greater availability of opportunities for social interaction and leisure activity (Alessie et al., 2011). Long-term benefits of retirement planning have been found, such as less depression and anxiety, which promotes psychological well-being during retirement (Chansarn, 2013). Retirement preparation provides greater financial means or income for post-retirement life, which helps to reduce worries and anxiety about the future (Yakobobki, 2007; Gough & Niza, 2011; Bonner, 2015), gains a sense of control over the uncertain (Calvo, Haverstick & Sass, 2009) and leads to greater satisfaction in retirement (Binswanger & Carman, 2012). In Ghana, studies conducted by Akuamoah-Boateng and Kpessah-Whyte (2011) reveal that many workers do not plan for their retirement. Wang and Shi (2014) opined that, unfortunately, whereas people usually devote much time and effort preparing for their occupational roles in life, many enter retirement without any preparation (Wang & Shi, 2014). Kpessah-Whyte (2011) further posited that the situation is not different with formal sector workers as many go about their normal work activities without caring so much about preparing for the years when they will not be in active work. This situation, to Kpessah-Whyte (2011), has been gaining increasing coverage from the media; especially when the poverty and misery of pensioners are brought to the fore. 5 University of Ghana http://ugspace.ug.edu.gh In relation to pastors, some Churches in Ghana have a separate pension scheme for their pastors apart from the mandatory Social Security and National Insurance Trust contribution they do for their ministers. For example, according to Apostle Emmanuel Achim Gyimah, Kaneshie Area Head (2015), the Church of Pentecost established a Pension Scheme for her ministers in 1976. The scheme started as Pentecost Ministers Welfare Fund to give proper care and support for her Ministers on retirement, and widows of departed Ministers to glory. Before the year 2000, the scheme lacked proper support from both Ministers and members, hence retired Ministers were given a pittance at the end of the month, which led to many passing away early, and did not allow the church to fully enjoy their rich experience and maturity. But after the year 2000, the scheme was given a boost and the monthly allowances were increased from 150 Ghana Cedis to 850 Ghana Cedis thereby making retired Ministers enjoy good old age to the benefit and prosperity of the church. Another Church that has pension scheme for their pastors in Ghana is the Assemblies of God (AG). The Assemblies of God Ministers’ Pension Scheme (The Scheme) is a welfare scheme that came into existence through a resolution passed at the 2012 General Council held at Wa, Upper West Region. Under the scheme, the retirement age of an Assemblies of God, Ghana Minister is 65 years. The National Administrator of the Assemblies of God Ministers’ Pension worked with local churches to ensure that ministers of the Assemblies of God Ghana contribute to the Social Security and National Insurance Trust and Occupational Pension scheme. The contribution to Social Security and National Insurance Trust known as Tier 1 will enable contributing Pastors, when they attain the Social Security and National 6 University of Ghana http://ugspace.ug.edu.gh Insurance Trust retirement age of 60 years, to receive a monthly pension payment from Social Security and National Insurance Trust as well as enjoy the National Health Insurance Scheme. The Occupation Pension contribution – tier 2 – will enable the contributing pastor to obtain a lump-sum payment when he/she attains the age of 60 years (www.agghana.org/hq/gh/index.php/pension-sch). The General Council End of Service Benefits (ESB) takes the form of a lump sum payment by the scheme to a retiring minister at the end of his tenure at age 65. It is based on a biennially (2 years) reviewed notional salary since there is no uniform salary scale in A/G. Presbyterian Ministers are starting with a national salary of two hundred Ghana Cedis (GH¢ 200.00) and a maximum length of service of thirty (30) years. The ceiling of thirty years has been imposed in this initial period because of the scheme’s financial condition. However, as and when the financial position of the scheme improves, the cap will be removed to ensure that Pastors are paid for the number of years of service they have rendered (www.agghana.org/hq/gh/index.php/pension-sch). In addition to the End of Service Benefits (ESB) lump sum payment to the retiring pastor, an appropriate retirement service shall be organised by the Executive Presbytery Officers or their representative and all relevant stakeholders involved. The ESB cheque(s) will be presented to the beneficiary at this ceremony. The retiring pastor’s local church will be required to give a monetary gift to the retiring minister to address a particular perceived need of the pastor as mutually agreed with the District/Regional leadership (www.agghana.org/hq/gh/index.php/pension-sch). 7 University of Ghana http://ugspace.ug.edu.gh Hammar (2015) posited that, of more than 4,000 pastors in the United States, one in five pastors do not save anything for retirement, providing a sobering statistic. And those who do save for retirement still don’t save nearly enough. Additionally, the study observed that 80% of pastors planning to use Social Security for retirement end up highly disappointed as such amounts are so meager that one cannot rely on that for a living. The research by Valkila et al. (2009) indicates that retired elderly ordained pastors feel insecure and lonely. They relate aging to insecurity about what the future holds: but like other age groups they are individuals with personal requirements and needs. Glass (1995:15) argues that pastors’ experiences of reti rement di ffer from other professi ons or other ki nds of work. By vi rtue of thei r occupati on, thei r calli ng, pastors have dedi cated thei r li ves to God i n the servi ce of God’s people. He asks the questi on i f dedi cated clergy can ever “reti re” from thei r vocati on: “Mi ni sters may reti re from bei ng the mi ni ster of a church, but do they ever retire from The Church?” De Klerk (2005:464) draws attenti on to the fact that even though Augusti ne, i n the fourth century, made a di sti ncti on between the so called vi ta acti ve en vi ta contemplati ve (acti ve li fe and the remi ni scence of li fe) there was no i ndi cati on of a cessati on of work. Mi ni stry i s regarded as a li feti me commi tment. Pastors, however, need to reali se that everythi ng does not change the moment they reti re. Thi s i s an opportuni ty to remi ni sce on thei r career and, i n amazement, di scover how God gui ded them (De Klerk, 2005:466). A search on the internet reveals that there is little evidence on retired ordained ministers’ preparedness for their retirement. It is not clear how ordained ministers of 8 University of Ghana http://ugspace.ug.edu.gh the Prebyterian Church of Ghana prepare for their retirement and this warrants empirical study as regards pre-retirement planning among Ordained Ministers in the Presbyterian Church of Ghana. 1.2 Statement of the Problem Evans (2014) alludes to the fact that a lot has been written about making the transition from seminary to church, but unfortunately observes that not enough literature addresses clergy making their way out of parish work. Glass (1995:15) posited that it therefore pre-supposes that few Churches make provision for pre-retirement education and preparation for their religious leaders. Glass (1995:15) identified pre-retirement education and preparation as the main reason for which many clergy make little or no preparation for retirement as being dependent on the Church for their pre-retirement preparation. He avows that preparing in advance to retire will help the pastor to develop reasonable expectations about his prospects for the future. This preparation will contribute to better attitudes toward retirement and more successful dealing with the emotional adjustment involved in the withdrawal from the role of worker (Berg, 2004:86). For most people, pre-retirement planning and preparation are essential. Robinson (2005:8) counsels pastors to have a plan when preparing for retirement. He says it can and will be changed, but a first draft is fundamental. Preparations for older years begin with the attitudes, lifestyle, activities and spiritual maturing from when one was younger. Louw (2005:432) regards the ages between 55 and 65 the time for preventative preparation for the demands of old age, such as health, finances, emotional control, dementia, and death. The researcher is of the opinion that it is rather crucial that pre-retirement programmes start much earlier; and agrees with Glass (1995:27) that 9 University of Ghana http://ugspace.ug.edu.gh these programmes must start as early as possible, because it takes a long time to consider and implement retirement plans. As posited by Kpessah-Whyte (2011), most Ghanaian workers are however, ill prepared for retirement besides the statutory mandatory preparation by way of pension schemes. This proposition has since been supported by many researchers. For instance, the International Labour Organisation (ILO) opined that only one in five workers is covered by adequate social security scheme. Additionally, 85% of the world’s population over 65 years have no retirement benefit at all (Holtzman & Hinz, 2001). It was argued that the situation is even problematic amongst ordained ministers in Ghana, specifically the Presbyterian Church of Ghana as many a pastor tends to live on Church members’ benevolence upon retirement, besides the pension schemes. Furtherance to the above, studies in Ghana are widely centered on history of social security (Kpessa-Whyte, 2011), the inefficiencies of pension administration and whether pension schemes are sustainable (Kumado & Gockel, 2003). There is not much literature on retirement preparation amongst Ordained Ministers in Africa, not even amongst Ministers in the Presbyterian Church, apart from the mention of institutional pensions that exist in these countries and this perhaps as according to Barrientos (2006), most Churches’ payment of Ministers’ emoluments do not factor payment of statutory contributions like Social Security and National Insurance Trust. That notwithstanding, Palacios and Pallares-Miralles (2000) intimated that, in sub- Saharan Africa, less than 10% of the older populations have a contributory pension and the few individuals who benefit from these pensions most often receive meager 10 University of Ghana http://ugspace.ug.edu.gh amounts, which are inadequate to maintain their pre-retirement standard of living and hence the need for alternative means of finance. Petters and Asuquo (2008) indicated that most pensioners in Nigeria will need alternative sources of retirement income apart from the existing pension benefits because retirees do not prepare well towards retirement as some even forget they may be going on retirement. The researcher is thus influenced by the inadequate literature on retirement preparation amongst ordained ministers to conduct a study on the subject matter with the staggering question “To what extent are the Ordained Ministers in the Presbyterian Church of Ghana preparing for their retirement?’’ 1.3 Purpose of the Study The purpose of the research was to explore various issues in retirement planning and preparation of ordained Ministers of the Presbyterian Church of Ghana towards a meaningful retirement. This study was to find out what factors motivate ordained Minsters to plan for their retirement and to adopt policies that would lead to sustaining programmes to enhance retirement of ordained Ministers in the Presbyterian Church of Ghana. Another purpose of this research seeks to develop a manual that will help the church in the formulation of a retirement policy and working tools for training of ordained ministers and their adults’ professionals in the church through the recruitment of new ministers, probationer studies, workshops, seminars, conferences, church durbars and programmes. 11 University of Ghana http://ugspace.ug.edu.gh 1.4 Research Objectives 1.4.1 General Objective The primary aim of this qualitative study was to gain an understanding of the mechanisms ordained Ministers of Presbyterian Church of Ghana adopt to prepare for their retirement life. 1.4.2 Specific Objectives The specific objectives of the research were to: 1. Determine the psychological preparation of ordained Ministers of the Presbyterian Church of Ghana towards retirement. 2. Identify financial preparation strategies of ordained Ministers of the Presbyterian Church of Ghana towards retirement. 3. Explore the social preparation of ordained Ministers of the Presbyterian Church of Ghana towards retirement. 4. Identify factors that affect retirement planning of ordained Ministers of Presbyterian Church of Ghana. 5. Explore post-retirement experiences of ordained Ministers of the Presbyterian Church of Ghana. 1.5 Research Questions To attain the objectives stated, the following related research questions guided the study: 1. How psychologically are ordained Ministers of the Presbyterian Church of Ghana prepared towards retirement? 12 University of Ghana http://ugspace.ug.edu.gh 2. How do Ordained Ministers of the Presbyterian Church of Ghana prepare financially for retirement? 3. How socially are the Ordained Ministers of the Presbyterian Church of Ghana prepared for retirement? 4. What factors affect pre-retirement preparation of Ordained Ministers of the Presbyterian Church of Ghana? 5. What are the experiences of ordained Ministers of the Presbyterian Church of Ghana after retirement? 1.6 Significance of the Study Retirement preparation provides greater financial means or income for post-retirement life, which helps to reduce worries and anxiety about the future gains a sense of control over the uncertain (Beshears et al., 2011; Fadlon, Laird & Nielsen, 2016) and leads to greater satisfaction in retirement (Clark, Morrill, & Vanderweide, 2014). The research is on Ordained Ministers in the Presbyterian Church of Ghana. It has been observed that the Presbyterian Church of Ghana do not have a special or separate pension scheme apart from what the church contributes to Social Security and National Insurance Trust for ministers during their active years in the ministry. There is no doubt that today some retired ordained ministers in Ghana are confronted with numerous challenges that leave them miserable and poor. Most retirees have to battle with the challenges of decent accommodation, decent regular income and access to health facilities and good family and social support systems. 13 University of Ghana http://ugspace.ug.edu.gh When this research is carried out it will serve as a manual to guide management and active ministers in the church. The Presbyterian Church of Ghana can adopt the findings from the study, add to the existing body of knowledge and fill the gap of existing literature by developing, planning and preparing policies on retirement to guide the church. This research would help policy makers develop advocacy programme for ordained ministers in the church by strongly proposing educational policy for active ministers. In addition to advocacy, education on retirement preparation should begin that as soon as ordained ministers are recruited for them to start planning and preparing toward their retirement. Furthermore, the research would help the Presbyterian Church to develop strategies for institutional growth because if ministers’ wellbeing are met they will go the extra mile in the work as minister and there would be growth in the church; for instance, increased membership, and increase in the church income and all areas of church growth. Last but not least, the research would enhance contribution to practice, especially curriculum on adult education (andragogy), education on retirement planning, and the need to understand aging as a process. 1.7 Organisation of the Study The study was composed of six chapters. Chapter one provided the background of the study, statement of the problem, purpose of the study, research objectives, research questions and significance of the study. 14 University of Ghana http://ugspace.ug.edu.gh Chapter two reviewed relevant literature focusing on the basic theoretical framework and empirical works relating to the study. Chapter three dealt with the methodology, which includes the research design, sampling techniques, research instruments, ethical issues, validity, reliability as well as data analysis. Chapter four dealt with the presentation of results. Chapter five discussed the results, and finally chapter six presented the summary, conclusion and recommendations based on the results obtained from the study and educational implications for retirement planning. 15 University of Ghana http://ugspace.ug.edu.gh CHAPTER TWO 2.0 THEORETICAL FRAMEWORK AND REVIEW OF RELATED LITERATURE 2.1 Introduction This chapter presents a revi ew of existi ng li terature related to the research problem. For the purpose of the revi ew, the chapter i s di vi ded i nto the followi ng sub-headi ngs: conceptual framework, theoreti cal frameworks, defi ni ti ons of reti rement; the concept of reti rement, types of reti rement work, reti rement planni ng, hi stori cal perspecti ves on reti rement planni ng, models of reti rement planni ng, psychologi cal preparati on for reti rement, economi cal preparati on for reti rement, soci al preparati on for reti rement, programmes to prepare for reti rement, approaches to reti rement planni ng atti tude and reti rement; adjustments to reti rement; factors that affect adjustments; and challenges encountered duri ng pre-reti rement planni ng. 2.2 Theori es of Reti rement Preparati on Prevai li ng theori es on pre-reti rement planni ng are based on vocati onal development i n general, as well as those focused speci fi cally on reti rement and agi ng, though each approach has i ts strengths as well as li mi tati ons. There are a number of theori es related to reti rement preparation. I brahi m and Wahat (2015) i denti fi ed related theori es as rati onal choi ce theory, i mage theory, role theory and conti nui ty theory. Accordi ng to I brahi m and Wahat (2015), all these theori es are focusi ng more on determi ni ng the deci si on to reti re. Wang and Shultz (2010) posit that Conti nui ty theory argues that peoples’ basi c nature does not change much from before to after reti rement. Mergi ng thi s concept wi th i mage theory, i ndi vi duals’ mi ght foresee that they are more li kely to reti re i f they thi nk they can conti nue thei r self-i mage. Additionally, Wang and 16 University of Ghana http://ugspace.ug.edu.gh Shultz (2010) further posited that Role theory has been used to draw workers’ demographi c status, work experi ence, mari tal li fe and many more. As I brahi m and Wahat (2015) noted, the continuity theory i s related to deci si on maki ng of reti rement and i t i s more on how people percei ve themselves and thei r roles i n the larger soci etal context. Reti rement preparati on both formally and i nformally mi ght i ncrease the subject’s confi dence i n thei r abi li ti es i n maki ng reti rement transi ti on later. However, most of the theori es focus on reti rement thoughts, behavi ors, atti tudes or goals undertaken to fulfi l the planni ng and preparati on for reti rement, but i t does not gui de how cogni ti ons can emerge i nto goal-setti ng or prepari ng behavi ours (Noone et al., 2010). I n other words, the cogni ti ve and behavi oural components of planni ng have not been i ntegrated i n a si gni fi cant way towards reti rement preparati on i n most of the current research. Thi s has li mi ted the way that planni ng for reti rement can be conceptuali zed and led to unpreparedness i n reti rement (Noone et al., 2010 as ci ted i n I brahi m & Wahat, 2015). Noone (2010) posits that the li terature on reti rement suggests that i nvesti gati ng behavi our i n reti rement preparati on i s a compli cated task . The reason, accordi ng to the Noone (2010), i s because the planni ng and preparati on are mostly accompani ed by varyi ng degrees of ri sk and uncertai nty, yet the outcomes are vi tal i n ensuri ng thei r posi ti ve wellbei ng later i n li fe. Despi te the growi ng numbers of studi es i n reti rement planni ng, there has been very li ttle empi ri cal work done on the relati onshi p between reti rement preparati on and the stages that leads to planni ng and prepari ng (Noone, 2009). The pri mary problem i n preparati on i s the lack of theory to show the development of reti rement preparati on process. Wi thout theoreti cal gui dance about 17 University of Ghana http://ugspace.ug.edu.gh how relati onshi ps develop and change, i ndi vi duals wi ll plan and prepare reti rement based on i ntui ti on, chance, conveni ence or tradi ti on, whi ch i s prone to error (Mathew & Fi sher, 2013m). To address thi s li mi tati on, I brahi m and Wahat (2015) developed a theory of process i n planni ng to measure di fferent stages i n planni ng for reti rement that leads to reti rement preparati on. I n thei r theory, I brahi m and Wahat (2015) absorbed the model of general planni ng process and reti rement planni ng i n reti rement preparati on. The fi rst stage i s where to develop a mental representati on of a problem space (reti rement representati ons) and cogni ti ve understandi ng of the subject are sti ll si gni fi cant to reti rement preparati on. The second stage i s whereby the employees need to be clear on thei r planni ng where a clear goal i s si gni fi cant to proceed wi th further preparati on. The last stage relates to the deci si on on prepari ng and, at the same ti me, i mplementi ng the strategi es and revi sing i f necessary. Wi th respect to Noone’s (2009) defi ni ti on of reti rement planni ng measure defi ni ti on, the i ni ti al stage sti ll reflects the cogni ti ve components of reti rement planni ng whi le the fi nal stage reflects the preparati on behavi or undertaken to fulfi ll reti rement objecti ves. Thi s planni ng measure i s consi dered valuable for the current research because of i ts measure of reti rement planni ng that uti li zes a theoreti cal approach to i tems development. More preci sely, thi s measure can conceptuali ze reti rement preparati on as a multi  stage process (I brahi m & Wahat, 2015). 2.3 Theoreti cal Underpi nni ngs and Conceptual Framework for the Study Several theori es and models have been used to explai n human behavi ours. Thi s study adopted three such models and theori es: soci al cogni ti ve theory, the resources 18 University of Ghana http://ugspace.ug.edu.gh dependent theory and li fe cycle theory. These theori es have been i ntegrated because not one of them better explai ns the tenets of the pre-reti rement preparati on. 2.3.1 Soci al Cogni ti ve Theory (SCT) The envi ronmental components i nclude factors such as the cultural context, i nsti tuti onal arrangements and soci al support that may be rei nforci ng or i nhi bi ti ng a posi ti ve behavi our. The behavi our (or the performance) of the i ndi vi dual i ncludes preparati ons for reti rement i n vari ous areas such as soci al, psychologi cal and materi al. Fi gure 1 shows the reci procal relati onshi p between the vari ous constructs i n the soci al cogni ti ve theory. Fi gure 1: Soci al Cogni ti ve Theory Source: Bandura, 2004 Lent, Brown, and Hackett’s (1994) supposi ti on on the soci al cogni ti ve career theory bui lds on Albert Bandura’s (1986) soci al cogni ti ve theory, i ncorporati ng and i ntegrati ng elements of multi ple exi sti ng vocati onal theori es on reti rement (Lent, Brown, & Hackett, 2002). 19 University of Ghana http://ugspace.ug.edu.gh Personal factors: Having knowledge on retirement planning, education, adequate savings or not. The behaviour (or the performance) of the individual includes preparations for retirement in various areas such as social, psychological and material. The environmental components: This include factors such as the cultural context, institutional arrangements and social support that may be reinforcing or inhibiting a positive behaviour. I n summary, SCT consi ders multi ple i nternal and external factors that may i nfluence vocati onal behavi or, and the model has some empi ri cal support for use wi th raci al and ethni c mi nori ty groups. The model appears flexi ble enough to consi der factors affecti ng reti rement deci si ons, as well as potenti ally i mpacti ng the choi ce and persi stence i n reti rement-age employment. However, thi s model does not speci ally consi der reti rement as a stage of career development and to date i t has not been empi ri cally studi ed wi th older adults. 2.3.2 The Resource Dependent Theory (RDT) The Resource Dependent Theory (RDT) was developed by the Ameri can busi ness theori st Jeffrey Pfeffer and the Ameri can organi zati onal theori st Gerald R. Salanci k i n the year of 1978; and hi ghli ghts the role resources play along the conti nuum of pensi on. Proponents of thi s theory are of the vi ew that there are three phases along the reti rement conti nuum (Ri chardson, 1992). The proponents are of the vi ew that there i s 20 University of Ghana http://ugspace.ug.edu.gh stage pri or to reti rement i n whi ch the i ndi vi dual i s acti vely engaged i n work and a transi ti on peri od, whi ch i s a peri od pri or to formal reti rement. However, the length of ti me i n thi s transi ti on peri od may vary across i ndi vi duals and often i nvolves some psychologi cal adjustment as the i ndi vi dual employment status changes. The fi nal stage i s the reti rement phase. Each of these stages i nvolve the i ndi vi dual talki ng some acti on wi th focus on the future (Adams & Rau, 2011). These three phases have been descri bed as prereti rement, transi ti on and adapti on and requi re some materi al resources (Muratore & Earl, 2015). The exact ti me for the pre-reti rement stage may vary between i ndi vi duals but i s beli eved to generally occur duri ng mi dli fe (Ekerdt, Kosloski , & Devi ney, 2000). Thi s phase becomes apparent when i t becomes obvi ous to the i ndi vi dual that future di sengagement from work i s becomi ng near. The i ndi vi dual then starts thi nki ng about the i mpendi ng reti rement and planni ng towards the reti rement (Adams & Rau, 2011). The i ndi vi dual needs resources on how to plan for reti rement i nvestment at thi s stage to address hi s concerns to avert reti rement challenges. The transi ti on stage, on the other hand, i s often based on when and how the i ndi vi dual wi ll eventually go on reti rement (Ri chardson, 1992). Thi s stage often i nvolves complex psychologi cal processes. Key consi derati ons around thi s phase i ncludes a deci si on to ei ther reti re or not, and/or to engage i n post-reti rement jobs (Wang, Henkens, & van Soli nge, 2011). The fi nal stage, whi ch i s the adaptati on, encompasses how the i ndi vi dual adjusts to the actual reti rement. Usually, the adjustment i s a conti nuum and changes over ti me. The framework for the Resource Dependent Theory for reti rement i s shown on Figure 2. From the fi gure, the i ndi vi dual needs resources 21 University of Ghana http://ugspace.ug.edu.gh such as money, health, relati onshi p and mastery to ci rcumvent the challenges of reti rement. I n the pre-reti rement phase, the i ndi vi dual may take measures to take an i nsurance package for hi m/herself, use other personal ways of protecti on agai nst reti rement or the publi c or employer may have an i nsurance package for the person. Dependi ng on what happens at the pre-reti rement stage, the i ndi vi dual wi ll move i nto the transi ti on phase controlled, wi th di ffi culty or well prepared. Thi s phase goes to affect the stage of adaptati on. Fi gure 2 shows the relati onshi p between the vari ous constructs i n the resource dependent theory (RDT) Fi gure 2: Resources Based Theory for Retirement Source: Muratore and Earl, 2015 22 University of Ghana http://ugspace.ug.edu.gh 2.3.3 Li fe-Cycle Theory Modi gli ani  and Brumberg (1963) postulated that people opti mi ze uti li ty of thei r future spendi ng, emphasi zi ng that the fundamental moti ve for savi ngs i s to accumulate resources for future consumpti on duri ng reti rement (Jappelli  & Modi gli ani , 2005). Anti ci pati ng a stable standard of li vi ng and attai ni ng one, to a large extent, are two very vari ed thi ngs. The model proposes that consumpti on and savi ng deci si ons emanate from a li fe cycle perspecti ve. A fundamental perspecti ve of li fe-cycle savi ng and i nvesti ng i s through the establi shment of the di vi de between the peri od over whi ch the savi ng occurs, thus the work li fe and the durati on duri ng whi ch the assets are drawn down – the reti rement span. The li fe-cycle hypothesi s tri es to unravel the manner i n whi ch people di vi des thei r i ncomes between spendi ng (consumpti on) and savi ngs, and the way they borrow. Age-i ncome profi les wi thi n the li fe-cycle often begi ns wi th low i ncome at the early worki ng li fe, then augments unti l i t reaches a peak before reti rement (Cagetti , 2003). The standard li fe-cycle model i s depi cted i n a “hump- shaped” pattern suggesti ng that an i ndi vi dual bui lds hi s asset accumulati on duri ng hi s worki ng li fe and spends those assets after reti rement (Huggett, 1996). Thi s hypothesi s suggests that the margi nal propensi ty to save (MPS) ri ses when i ncome i s hi gh (relati ve) to li feti me average i ncome; conversely savi ng i s low when i ncome i s low. I t i s therefore, advi sable for people to save when thei r i ncomes are hi gh so as to plan effecti vely towards reti rement .The li fe-cycle model suggests that people wi ll save whi le young and worki ng, and di s-save when old and reti red (Modi gli ani , 1986). I mpli edly, a soci ety wi th reti rees has a lower savi ng capaci ty and a soci ety wi th many wi thi n the acti ve labour force has a hi gher savi ng abi li ty, all thi ngs bei ng equal, necessi tati ng the need for a study of the i nteracti on between 23 University of Ghana http://ugspace.ug.edu.gh demography and aggregate savi ngs. I n theory, i n the absence of a bequest moti ve, the di s-savi ngs of the old should offset the savi ngs of the young, so that i n a stati onary populati on (wi th a stable age di stri buti on and no populati on growth) there i s no aggregate savi ng (Beddi ngton et al., 2013). Nonetheless, i f there i s an i mbalance wi thi n the age bracket of the populati on (from populati on growth), or where the economy i s undergoi ng rapi d economi c growth and wage i ncomes of the young ri se i n tandem wi th reti rement i ncomes of the old, the di fferent cohorts of savi ngs may not reconci le; hence, aggregate savi ng, or di ssavi ng, may occur (Modi gli ani , 1986). Conti ngenci es may di stort a typi cal planned fi nanci al li fe-cycle pattern of i ndi vi duals, fami li es or a group and the uncertai nti es surroundi ng these conti ngenci es make i t di ffi cult to predi ct i f and when they mi ght occur, thereby affecti ng people’s budgets and, hence, savi ngs especi ally among reti rees (Kormendi  & Megui re, 1995). Li festyle ci rcumstances can affect the fi nanci al status and requi rements at vari ed stages i n li fe. For i nstance, the global economi c meltdown i n 2008/2009 leadi ng to a rout i n most stock markets around the world has i gni ted a cri si s of confi dence for several people i n the world who manage thei r own reti rement savi ngs plans (Ramey, 2012). Accordi ng to the li fe-cycle model, the typi cal households wi ll accumulate savi ngs (assets) duri ng thei r mature worki ng years, whi le savi ngs wi ll be negati ve for the young and the reti rees (Modi gli ani , 1986). On the surface of labour i ncome decli nes over the course of li fe, these theori es rei terate that savi ng rates wi ll be uneven over the course of li fe (Maski n & Ti role, 2008). Fri edman (1957) suggested i n hi s permanent i ncome hypothesi s that people spend a proporti on of thei r permanent i ncome on consumpti on. Permanent i ncome entai ls the annui ty value of li feti me i ncome and wealth (Greenwood, Hanson, & Stei n, 2015); the sum of non-human 24 University of Ghana http://ugspace.ug.edu.gh wealth and human wealth (that i s, one’s present and future i ncome), whi ch represents the present value for current and future i ncome (Berben & Brosens, 2007). Li fe-cycle hypothesi s and permanent i ncome hypothesi s only remai n di fferent dependi ng on the durati on of the peri od. The di fference between the Modi gli ani - Brumberg’s li fe-cycle theory and the Fri edman’s theory i s that the former’s planni ng peri od i s fi ni te, whi lst the latter’s planni ng peri od i s i nfi ni te, i ndi cati ng people save not only for themselves, but also for thei r descendants (Jappelli  & Modi gli ani , 2005). The li fe-cycle hypothesi s and permanent i ncome hypothesi s have some common predi cti ons about i ndi vi dual behavi or, thus: i ncome shocks (transi tory taxes and rebates) and capi tal gai ns or losses can be expected to have small effects on consumpti on (Modi gli ani , 1986). The theori es mai ntai n that people are more parti cular about long-term consumpti on thereby explai ni ng savi ng and consumpti on i n terms of expected future i ncome. Si nce consumpti on i s determi ned by anti ci pated li feti me resources (rather than current resources), savi ng over short peri ods of ti me (i.e. one year) i s expected to reflect departures of current i ncome from average li feti me resources (Cogan, Cwi k, Taylor, & Wi eland, 2010). Worthy of note i s that savi ngs decrease when current i ncome falls below average expected li feti me i ncome, and i ndi vi duals and households may even borrow to fi nance consumpti on. On the contrary, people save when current i ncome exceeds average expected li feti me resources. Duri ng early adult years, savi ngs rates tend to be low and then ri se wi th age as i ncome i ncreases, and decreases and become negati ve i n reti rement as earni ngs fall (Ahmad & Qayyum, 2008). Accordi ng to Borsch-Supan and Lusardi  (2003), the fundamental moti ve for savi ng i n the li fecycle model i s consumpti on smoothi ng due to a decli ni ng 25 University of Ghana http://ugspace.ug.edu.gh margi nal uti li ty of consumpti on, and the fact that i ncome after reti rement i s generally lower than before. Mukherjee and Bhattacharya (2010) opi ned that a moderate extensi on of the li fe-cycle model allows for unexpected outcomes both for earni ngs and for expenses. For example, fami li es have unexpected expendi tures such as uni nsured medi cal expenses or hi gher than expected educati onal expenses. These fami li es may have planned to reach reti rement wi th adequate resources, but were not able to reali ze thei r plans. Unexpected events can generate substanti al vari ati on i n wealth outcomes even though i ndi vi duals are behavi ng opti mally (Ki rchner, Ci madomo, & Hauptmei er, 2010). Another reason that accounts for the di fferences i n savi ngs amongst households has to do wi th the varyi ng subjecti ve ti me rates of di scount; some people strongly prefer to defer present consumpti on to future consumpti on causi ng them rati onally to choose not to save (Di eleman et al., 2017). When workers anti ci pate smooth ri si ng of earni ngs, they would delay i n savi ng unti l thei r earni ngs are hi gher, but thi s may not materi ali ze when they encounter peri ods of unemployment or perhaps earni ngs flat (Bouakez & Rebei , 2007). From a li feti me perspecti ve, they would not have saved enough early i n thei r work li fe, and so they would not have reached reti rement wi th enough actual savi ngs relati ve to thei r li feti me i ncomes (Heylen, Hoebeeck & Buyse, 2013). The li fe-cycle theory explai ns that the wealth of the nati on gets passed around; the very young have li ttle wealth, mi ddle aged people have more, and peak wealth i s reached just before people reti re. As they li ve through thei r golden years, reti rees sell off thei r assets to provi de for food, housi ng, and recreati on i n reti rement. The assets shed by 26 University of Ghana http://ugspace.ug.edu.gh the old are taken up by the young who are sti ll i n the accumulati on part of the cycle (Ganelli  & Tervala, 2009). Wi th populati on growth, there are more young people than old, more people are savi ng than are di ssavi ng, so that the total di ssavi ng of the old wi ll be less than the total savi ng of the young, and thereby creati ng a net posi ti ve savi ng. I f i ncomes are growi ng, the young wi ll be savi ng on a larger scale than the old are di ssavi ng so that economi c growth, li ke populati on growth, causes posi ti ve savi ng, and the faster the growth, the hi gher the savi ng rate (Hui  & Hayllar, 2010). Savi ng may not be about the growth i n populati on or growth i n per capi ta i ncomes, what really matters for savi ng i s si mply the rate of growth of total i ncome. I n an economy wi th no growth, wealth wi ll just be passed around; no new wealth wi ll be created. The total wealth i n the economy depends on the length of reti rement, and i n si mple cases, the rati o of a country’s wealth to i ts i ncome i s a half of the average length of reti rement, a predi cti on remarkable for i ts preci si on, si mpli ci ty, and lack of unspeci fi ed parameters (Grei ner, 2012). I n generi c terms, the rati o of wealth to i ncome i s lower the faster i s the rate of growth of the economy, and i s at i ts largest when the rate of growth i s zero (Adam, 2011). Some economi sts are skepti cal of the li fe-cycle theory; for example, contrary to the theory, many Ameri can workers are enteri ng reti rement wi thout any assets. And a large percentage of workers who do have assets somewhat conti nue to add to them after they reti re (Blau, 2008). Nei ther of these phenomena i s easy to reconci le wi th si mple versi ons of the li fecycle model (Browni ng & Crossley, 2001). Another li mi tati on of the li fe-cycle hypothesi s i s the omi ssi on of legacy or i nheri tance as a factor determi ni ng savi ng. Wi nter et al. (2012) opi ned that the desi re to make bequests or i nheri tance i s an i ndi spensable factor dri vi ng savi ngs. However, savi ng for bequest, to some extent, could be li kened to savi ng for reti rement. 27 University of Ghana http://ugspace.ug.edu.gh Studi es reveal that the elderly do not di spose of thei r assets i n the way that the theory requi res and i ndeed many of the elderly appear to save part of thei r i ncomes (Bullard & Fei genbaum, 2007; Fernández-Vi llaverde & Krueger, 2011; Fi ndley, 2014). Savi ng for reti rement i s acti ve i n mi ddle-age, and to be i nsuffi ci ent to prevent a sharp fall i n consumpti on at reti rement, and such a fall has been well documented (Ang, 2009). Uncertai nty about the date of death may li mi t the extent to whi ch reti rees are wi lli ng to run down thei r assets, whi ch i n i tself wi ll generate “uni ntended” bequests or i nheri tance (Yang, 2009). Jappelli  and Padula (2013) noted that, i f each person expects i ncomes to grow throughout thei r li fe, then the li fe-cycle hypothesi s would requi re that they should consume more than thei r i ncome i n early li fe, so that there would be di ssavi ng at both ends of the li fe cycle, fi nanced by savi ng i n mi ddle-age (Meghi r & Pi staferri , 2011). However, i n practi ce, i t seems unli kely that young people would be able to borrow enough to secure li vi ng standards that were much beyond thei r current means. As they move i nto mi ddle-age, there wi ll come a poi nt where they need to start accumulati ng assets for reti rement, even i f they would have li ked to have borrowed at the begi nni ng of the li fe-cycle (Kalbusch & Ghi si , 2016). Alternati ve models to the li fe-cycle hypothesi s and permanent i ncome hypothesi s have been proposed, namely the “buffer- stock” models of savi ng (Cali endo & Huang, 2008; Low, 2005). These models emphasi se a precauti onary moti ve for savi ng (bei ng prepared for emergenci es as the most i mportant reason for savi ng), parti cularly for younger households and for households faci ng greater i ncome uncertai nty. Bloom et al. (2007) similarly stressed the i mportance of the bequest moti ve. 28 University of Ghana http://ugspace.ug.edu.gh Thi s bequest moti ve has been drawn to explai n why savi ng does not reduce duri ng old age as would be expected from the li fe-cycle hypothesi s. Bequest can be acci dental (Lockwood, 2012), strategi c (Li m & Kwak, 2016), or the result of decreased consumpti on due to an unexpected deteri orati on of health (Grossmann & Poutvaara, 2009). Kotli koff (1989) showed that, i n the Uni ted States, about 30 percent of household savi ng i s precauti onary. People seem to save because of anxi eti es about reti rement and old age. They save to have a buffer. Yang (2009) found that the unusually hi gh savi ngs of the elderly may be explai ned by the precauti onary moti ve. Thi s precauti onary or buffer savi ng has been found to be an i mportant savi ng moti ve not only i n Western countri es but i n many other countri es as well (Van Rooi j, Lusardi , & Alessi e, 2011b). Precauti onary savi ng i s the complement of li fe-cycle savi ng. Younger cohorts faci ng no i ncome would li ke to borrow (Choi , Ki m, & Shi m, 2016). These economi c theori es assume that people are rati onal, forward looki ng and concerned about consumpti on patterns, preferences are fi xed or very stable, and people have perfect i nformati on. The behavi oural li fe-cycle hypothesi s i ncorporates self-control, mental accounti ng, and frami ng. I t proposes that i ndi vi duals use systems of mental accounts and that the propensi ty to spend vari es across accounts. Wi epki ng et al. (2010) suggested that people treat i ncome from di fferent sources di fferently. Three mental accounts are consi dered to be relevant when people thi nk about thei r wealth: current i ncome, current assets (savi ngs), and future i ncome. The temptati on to spend money i s supposedly the greatest wi th current i ncome. I n addi ti on, the margi nal propensi ty to save or spend i s di fferent wi th each of these mental accounts (I nkmann & Mi chaeli des, 2012). Sargeant and Shang (2011) fi nd that many consumers use thei r own speci al budgetary system to 29 University of Ghana http://ugspace.ug.edu.gh moni tor expendi tures through di fferent mental budgets: a speci fi c amount of money i s allocated to a di fferent mental budget. These issues are directly related to the contextual issues on retirement planning by Graizer (2012) as depicted in figure 3 30 University of Ghana http://ugspace.ug.edu.gh Financial Preparation  Building of estates  Buying of shares  Treasury bills  Educational policy for children Institutional factors Effect in retirement preparation  Retirement Policy  Anxiety about retirement Experience during retirement  SSNIT Contributions  Poor preparation toward  Financial challenges  Training policy on retirement planning retirement  Inability to build own  Salaries and allowance  Unwilling to work in rural and residence deprived areas  Loneliness Social Preparation  Unhappiness  Building of house for family  Rely on family for upkeep  Linking with church at  Post retirement jobs home  Educating children  Providing support to family Psychological Preparation  Involvement of family members  Counselling Figure 3: Contextual issues on Retirement planning Source: Greiner, (2012) 31 University of Ghana http://ugspace.ug.edu.gh The contextual issues on retirement framework explains that the institutional factors like retirement policy, social security contribution, training programmes on retirement planning, salaries and allowances to the individaual can enhance successful retirement planning and preparation. However, when the above institutional factors are inadequate they impede planning and preparation on retirement. Therefore, institutional factors are very important if the individual wants to enjoy good life during retirement. 2.4 Review of Related Literature Reti rement as a concept has vari ed defi ni ti ons and therefore no si ngle defi ni ti on can be assi gned to i t. The research exami nes the concept as a cri si s, reward, process, and event, a change of role, loss of status, economi c and lastly a stage and soci al phenomenologi cal i n reti rement preparati on (Wertz, 2010). One perspecti ve sees reti rement as a major li fe cri si s, di srupti on or stressful event, whi ch contri butes to a decli ne i n physi cal and mental health and requi res adjustment to loss of work, reduced i ncome and changes i n status, authori ty and soci al roles (van der Hei de et al., 2013). Thi s seems to be a reasonable amount of i nci dents that attest to thi s vi ew of reti rement though i t may be presumptuous to establi sh a causal relati onshi p between reti rement, i llness and death as advocated by Bender (2012) and Coe and Zamarro (2011). Thi s i s because death precedes reti rement. However thi s concept’s vi ew of reti rement as a cri si s or stressful event that leads to a decli ne i n physi cal and mental health i s not appli cable to all reti rees because some reti rees experi ence i mproved health due to the fact that work was rather stressful (Behncke, 2012; Hochman & Lewi n-Epstei n, 2013). The i ssue of reti rement bei ng stressful only happens i n the case of those who 32 University of Ghana http://ugspace.ug.edu.gh do not plan adequately towards thei r reti rement and therefore become stressful. A second group of scholars argue that reti rement i s always seen as ri ght and the reward for years of work. Thi s defi ni ti on of reti rement as a ri ght or reward i s characteri zed by freedom and enjoyment after many years of hard work and contri buti on to the growth and development of soci ety (Hardy, 2011). The degree to whi ch thi s reward i s enjoyed by the i ndi vi dual i s often dependent upon the avai labi li ty of economi c, soci al and other resources. Thi s i s due to the lack of or i nadequate preparati on and planni ng, therefore most reti rees i n Ghana do not see reti rement as a reward but rather a stage or peri od beset wi th di sdai n, sufferi ng and poverty. I n addi ti on, some vi ew reti rement as a process characteri zed by a gradual, ongoi ng process, i ncorporati ng several di fferent phases or stages (Hodki nson et al., 2008; Potocni k, Tordera & Pei ró, 2009). As a process, i t i nvolves a conti nued adaptati on to changes occurri ng duri ng thi s li fe stage. Reti rees develop thei r own copi ng mechani sm and di ffer i n thei r own adaptati on along a conti nuum, wi th very successful adaptati on at one end and very unsuccessful adaptati on at the other end. Furthermore, reti rement i s seen as a li fe event and therefore takes place on a speci fi c date and day and is associ ated wi th changes i n exi sti ng li fe condi ti ons, and therefore needs adapti on to new si tuati ons, envi ronment and ori entati ons (Holcomb, 2010; Sander & Bell, 2014). Thi s event i s associ ated wi th reli nqui shi ng one’s employment or work ei ther partly or totally. Thi s event occurs for di fferent reasons, thus, i t may be voluntary or i nvoluntary and marked wi th a ceremony or even occur wi thout any publi c recogni ti on (von Bonsdorff et al., 2009). Therefore reti rees experi enci ng 33 University of Ghana http://ugspace.ug.edu.gh thi s event may have di fferent soci ally constructed meani ng to thi s and i ts effect would di ffer wi th persons. Some scholars vi ew reti rement as the peri od that comes wi th change i n the role an i ndi vi dual played pri or to reti rement that i nvolves multi ple, si multaneous role changes wi th the i ndi vi duals work role i n some way (Muratore & Earl, 2015). Reti rement always entai ls the i ndi vi dual’s transi ti on from a clearly defi ned role to a vague and poorly defi ned one, as soci ety does not have clearly defi ned roles for reti rees (Coe & Zamarro, 2011). However, some scholars do not agree with thi s asserti on because they thi nks there i s no role loss duri ng reti rement, but rather a move from one soci al role to the other (Shultz & Wang, 2011; McVi tti e & Goodall, 2012). Thus, thi s role of a reti red person has culturally transmi tted norms and defi ned ri ghts, duti es and responsi bi li ti es. Reti rement, therefore, is percei ved as a role change i nvolvi ng role loss, role expansi on, and role defi ni ti on, whi ch affects not only the reti ree but also affects the role and dynami cs of the reti ree’s fami ly (Shultz & Wang, 2011). Another group of scholars see reti rement as i nvolvi ng the loss of one’s soci al status. They are of the vi ew that people defi ne themselves by thei r career therefore when they lose that i denti ty, they are li kely to experi ence a decreased feeli ng of self-worth because status has been lost (Coi le & Levi ne, 2011; Poterba, Venti  & Wi se, 2011). Thi s percepti on of reti rement may be experi enced more by reti rees who are i n the upper echelon of an organi zati on than those at the low level. Reti rement marks the end of what i s generally thought to be a close relati onshi p between the ki nds of job an i ndi vi dual holds and the ki nd of li festyle and standard of li vi ng the person enjoys. 34 University of Ghana http://ugspace.ug.edu.gh Thus thi s relati onshi p results, of course, from the fact that, for most people i n formal work, employment i s the only fully acceptable way of maki ng a li vi ng. Accordi ng to MacBean (2007), reti rement mi ght be vi ewed as a state wi th no connecti on to the labour force or to a li felong occupati on, or i t could be vi ewed as a process of gradually reduci ng labour force acti vi ty. Most people reti re for vari ous reasons. A pri me consi derati on i s fi nanci al resources i n the reti rement years; a person may choose early reti rement i f pri vate i nvestments and a pensi on wi ll provi de adequate li fe-long fi nanci al well-bei ng. Lower salari ed workers wi ll work past age 65 years due to i nadequate savi ngs and low pensi on benefi ts. Yet, others reti re early because of job termi nati on due to busi ness downsi zi ng and early buyouts (Fadi la & Alam, 2016). Many others reti re because they are i nterested i n vari ous acti vi ti es such as spendi ng more ti me wi th fami ly and pursui ng i ndi vi dual hobbi es and professi ons (Topa & Alcover, 2015). Some reti re si mply because they thi nk they are supposed to at age 60. Fi nally some reti re to assume greater fami ly caretaki ng responsi bi li ti es for frai l parents, spouse, and adult chi ld or other relati ves (Watson, 2010). There i s evi dence that the defi ni ti on of reti rement i s somewhat elusi ve (Knoll, 2011). There are many reti rements, or at least many forms of reti rement. Theory and empi ri cal research gi ve us reti rement concepts such as bri dge employment or parti al reti rement, voluntary reti rement, soci al securi ty (or pensi on) eli gi bi li ty or recei pt, percei ved reti rement, and early reti rement. I ndeed, reti rement was i ni ti ally thought of as a strai ght forward concept unti l such a ti me that the dynami cs of populati on growth and i ndustri ali zati on made the concept a broad spectrum that encompasses several 35 University of Ghana http://ugspace.ug.edu.gh factors and condi ti ons (Dorn & Sousa-Poza, 2010). I n the opi ni on of Jackson (2009), there are two thi ngs that can be known wi th certai nty about reti rement. Fi rst, the experi ence of i t, as measured by well-bei ng, joy fulfi lment, acti vi ty, mi sery, loneli ness, pai n, or li mi tati on wi ll be uni que for every i ndi vi dual, wi th only li mi ted regard to fi nanci al status. Second, regardless of when or under what ci rcumstances reti rement begi ns, eventually i t wi ll end i n death, whi ch has si gni fi cant i mpli cati ons for the li vi ng and experi ence of i t. Reti rement presently has the capaci ty to di sappoi nt i ts occupants. Marketers dangle hi gh-end consumpti on before the eyes of prospecti ve reti rees: forms of housi ng, travel, touri sm, recreati on, and the means to i ndulge grandchi ldren. Few people attai n a home-on-the-fai rway reti rement. Moreover, reti rement has the capaci ty to di sappoi nt because i t eventually fades i nto the fourth age or ―deep old age of di sabi li ty and physi cal decli ne. I ndeed, at thi s stage of li fe there ari ses the expense of long term care, for whi ch one really does need to save: yet thi s form of consumpti on remai ns qui te i nvi si ble i n the li felong promoti on of reti rement (Knoll, 2011). Reti rement, the end stage of a li near worki ng li fe, may be replaced wi th learni ng, worki ng, lei sure, li fe cycle. I n a cycli cal learni ng and worki ng model, parti ci pati ng i n the work force never ceases but i s i nterspersed wi th peri ods of lei sure and learni ng (Shultz & Wang, 2011). Full-ti me work may be i nterspersed wi th peri od of flexi ble worki ng arrangements such as part-ti me, seasonal, occasi onal, and project work (Damman, Henkens, & Kalmi jn, 2011). The tradi ti onal noti on or reti rement may be replaced wi th li felong worki ng i n vari ous posi ti ons and i n varyi ng i n a shortage of ski lled and adult li fe (McDonald & Donahue, 2011). I n the vi ew of decli ni ng bi rthrates 36 University of Ghana http://ugspace.ug.edu.gh i n the future, this may result i n a shortage of ski lled and knowledgeable employees maki ng the noti on of reti rement for older workers a seri ous drai n on organi zati onal projected producti vi ty, a projected shortage of ski lled and experi enced workers, and older adults who are healthi er and li vi ng longer than previ ous generati ons are powerful soci etal forces shapi ng future employment practi ces (McDonald & Donahue, 2011). A potenti al problem wi th defi ni ng reti rement has been noted i n research where reti rement has been consi dered as a di chotomous vari able (reti red verses not reti red), (Osborne, 2012). Research shows that there are speci fi c types of reti rement such as voluntary, i nvoluntary, early; on ti me, parti al, and complete. But all these have been operati onali zed as di chotomous vari ables; for example, the degree to whi ch reti rement i s defi ni ng these wi th conti nuous scales that mi ght lead to new di scoveri es about thei r i mportance i n the process of reti rement. There i s li ttle agreement on the concept of the term “reti rement” to the vari ous di sci pli nes, however, i n the vi ew of the researcher, reti rement i s a voluntary deci si on, compulsory or mandatory order to di sengage from tradi ti onal fullti me employment. 2.5 What is Retirement Planning? Accordi ng to Ri ker and Myers (1990:9), reti rement i s a recent phenomenon. The concept of reti rement was to make room for younger workers. I t was endorsed as an opportuni ty for workers to enjoy the results of thei r labour. Nevertheless, menti on i s already made of i t i n the Bi ble, but wi th another purpose i n mi nd. As previ ously menti oned (2.6.3), De Klerk (2005:475) i ndi cates that the Bi ble menti ons i n Numbers 37 University of Ghana http://ugspace.ug.edu.gh 8:25, 26, at least one professi on i n whi ch men reti red, namely the Levi tes. They were allowed to serve i n the temple unti l thei r 50th year. Thereafter they could only assi st other Levi tes. The reason for thei r early reti rement was that the work became too hard for them. The complexi ty of changes and concerns related to reti rement, however, can be regarded as a modern-day i ssue (Sheri dan & Ki sor, 2000:125). The truth of thi s vi ew can be questi oned. Does that mean that the Levi tes and reti rees of a hundred years ago di d not have negati ve experi ences regardi ng thei r reti rement? The problems regardi ng reti rement are age old problems, although the world of today has di verse i ssues that make reti rement di fferent i n certai n aspects. Duri ng the Stone Age the average li fe expectancy was ± 17 years, 22 years i n the Roman ti me, 25 years duri ng the Mi ddle Ages and 44 years i n 1900 (De Klerk, 2005:475). People were not expected to li ve long beyond thei r work years i n past generati ons but due to changes i n li fe expectancy a man may today face to li ve 10, 20 even 30 years after reti rement (Fernandez-Ballesteros, 2006:103; Kerr & Schulze, 2004:16). Pastors need to reali se that reti rement i s no longer synonymous wi th “old age” i n the cut and dri ed way i t perhaps was. Stuart-Hami lton (2000:152) states that for many people, age i s now an i rrelevant cri teri on on whi ch to revi ew reti rement. I f a reti red person i s i n good health, chose to reti re, i ntenti onally planned for reti rement, has access to suffi ci ent monetary resources, retai ns a soci al support network, and possesses a fundamentally flexi ble personali ty, the li terature pai nts hi m as sati sfi ed (Berg, 2004:75; Brunsdon & Lotter, 2007:295; Ladd, 2005:75). Unfortunately very few reti rees are i n the opti mi sti c si tuati on to be i n the posi ti on as descri bed by these authors. Mobi li ty, health or fi nance may li mi t a person and have 38 University of Ghana http://ugspace.ug.edu.gh an i nfluence on thei r choi ces. These outsi de ci rcumstances are extremely i mportant i n adapti ng to the soci al changes of agi ng, but wi thi n those li mi ts there are so many opportuni ti es. One can sti ll be an agent for change, usi ng your ori gi nali ty, be i magi nati ve and resourceful (Harri gan & Farmer, 2000:51; Johnson, 2007:47). Reti rees can ei ther experi ence feeli ngs of uselessness or engage i n an opti mal use of thi s promi si ng phase. Brunsdon and Lotter (2007:275) observed that reti rement can be regarded as a ti me of challenges as reti rees enter a new peri od wi th emoti onal and physi cal adaptati ons i n thei r li ves. Phi lli ps et al. (2005:40) descri be thi s vi ewpoi nt more extensi vely and mai ntai n that reti rement can be the gateway to a long and noteworthy peri od i n the reti rees’ li ves, especi ally i f they took early reti rement from work. I t i s i nteresti ng to note Wells and Kendi g’s (1999:112) fi ndi ng that:  most people adjust well to reti rement over ti me;  there may be a honeymoon peri od after reti rement followed by di si llusi onment;  the i mpact of reti rement depends on one’s resources; and  psychologi cal resources assi st i ndi vi duals to develop and uphold healthy behavi or and may assi st people to cope wi th li fe’s events. Reti rement i s an i mportant li fe event and many researchers (Brunsdon & Lotter, 2007:275; Ladd et al., 2005:75; Kerr & Schulze, 2004:16) regard i t as one of li fe’s most stressful occurrences because i t strai ghtaway engages major changes i n acti ve employment. I t typi cally necessi tates alterati ons i n li vi ng arrangements, economi c status, soci al relati onshi ps, dai ly behavi our and personal i denti ty. Reti rement i s someti mes consti tuted as cri ti cal because i t i s regarded as the fi nal phase of li fe on account of the age of the reti ree. Bamsey (2002:14) talks about “reti rement angst”, 39 University of Ghana http://ugspace.ug.edu.gh whi ch means fear for reti rement. Reali si ng that reti rees have fewer years left than those that have passed, Johnson (2007:49) encourages them to take stock, to “clear the atti c” and to use the last years well. I t i s obvi ous that reti rement as a season di ffers from all others. Bamsey (2002:14) says that i n thi s season reti rees are free to determi ne both the pace of li fe and i ts di mensi ons. He feels li ke he di d when he first started out as a pastor: a novi ce wi th a lot to learn. Reti rement, for many, means old age. Normally reti red people are old, and old people reti re from acti ve worki ng li fe. Accordi ng to McConnell and Usher (1980), although reti rement i s one of the bi g events i n a person’s li fe and contri butes i n an i mportant way to the meani ng of old age i n modern soci ety, i t has not always been uni versal. On the contrary, i t i s holi sti cally qui te recent i n ori gi n. The authors assert that many people reti re well before age 60, whi le others work well i nto thei r 8th decade. I n addi ti on, about 14 persons reti red and returned to work numerous ti mes throughout thei r li ves. McConnell and Usher (1980) further contend that, pri or to i ndustri ali zati on i n the mi d-19th century, workers were ti ed to thei r job both because thei r labour was needed and because they could not afford to reti re. Consi deri ng the fact that the economi c si tuati on i n Ghana i s so unstable and subjected to unwarranted and unexpected lay-offs, preparati on should start early i f one i s expected to cope favourably wi th the fi nanci al shock to be experi enced through the loss of job. I n Ghana, on average, the age at which respondents began planni ng for reti rement is 48-50years for men and 54 years for women (Kumado & Gockel, 2003). 40 University of Ghana http://ugspace.ug.edu.gh The general agreement i s that reti rement planni ng and preparati on should begi n early or i n the younger years or whi lst one i s i n acti ve servi ce, because i t would gi ve one ample ti me to do effecti ve preparati on and planni ng (SSNI T, 2014). I n the li ght of thi s, i t i s beli eved that reti rement preparati on should start ri ght from the fi rst month i ndi vi duals are employed especi ally i n relati on to the accumulati on of fi nanci al assets. Thi s i s so because one’s expectati on about reti rement and sati sfacti on wi th reti rement i s dependent on how well one prepares fi nanci ally (Beehr & Bennett, 2014). The preparati on and planni ng process should be i ntensi fi ed when one enters thei r mi ddle age despi te the constrai nts on thei r resources. I n addi ti on, for most publi c sector workers i n Ghana, reti rement planni ng and preparati on should be i ni ti ated ri ght from the fi rst month of an i ndi vi dual’s employment to help accumulate an ample amount that can cushi on i ndi vi dual’s agai nst harsh economi c condi ti ons (Kumado & Gockel, 2003). Furthermore, Noone, O’Loughli n and Kendi g (2013) agree that reti rement preparati ons, plans and expectati ons are closely ti ed to economi c condi ti ons and personal vi ews about the country’s economy. For i nstance, i f i ndi vi duals are expected to rely on pensi on money that i s i nvested i n the stock market or personal i nvestments, how these assets affect thei r reti rement fi nanci ally i s only known when they reti re. Reti rement planni ng should be vi ewed as an i ndi vi dual’s responsi bi li ty that starts wi th the development of a posi ti ve vi ew about the phenomenon. Planni ng for reti rement should be vi ewed as a process characteri zed by anti ci pati on for the event years i n advance. Anti ci pati on preci pi tates anti ci patory and proacti ve copi ng 41 University of Ghana http://ugspace.ug.edu.gh behavi ours that moti vate the i ndi vi dual to engage i n i nformal and formal preparati on i n tandem wi th thei r age, goals to be reached before reti rement and thei r expectati ons of the phenomenon. Anti ci patory copi ng behavi our i nvolves preparati ons for potenti al events that are certai n to happen whi lst proacti ve copi ng i nvolves preparati ons for events that potenti ally may occur consi stent wi th these copi ng mechani sms. I f one envi sages fi nanci al uncertai nty, because of negati ve changes i n fi nances and loss of worker role whi ch i s a si lent aspect of many people’s i denti ti es they make to these changes (Noone et al., 2013). Although these anti ci patory and proacti ve copi ng mechani sms are purposi ve, they have a latent functi on of acti ng as a cause of stress by putti ng undue pressure on the i ndi vi dual. Apart from the age and goal of the i ndi vi dual, one’s reti rement preparati on begi ns wi th psychologi cal preparati on, whi ch i nvolves thi nki ng about li fe duri ng and after reti rement. Thi s i nvolves talki ng to spouses, chi ldren, fri ends, workmates and further seeki ng i nformati on about reti rement through readi ng, professi onal advi ce and the medi a (Bi nswanger & Carman, 2012; Yang & Devaney, 2011). Researchers beli eve that formal preparati on towards reti rement should cover the followi ng i tems: bui ldi ng one’s own house, savi ng adequate money, buyi ng a house, learni ng about pensi on and soci al securi ty benefi ts, developi ng hobbi es and other lei sure-ti me acti vi ti es, deci di ng whether one wants to move or conti nue to li ve where one i s and more. The others i nvolve prepari ng a wi ll, maki ng sure one has medi cal i nsurance or good health care: these are all i ssues to be consi dered. I n other words, plans made i n these areas are very comprehensi ve and help the reti ree experi ence greater sati sfacti on and comfort duri ng reti rement (Yang & Devaney, 2011). I n fact, 42 University of Ghana http://ugspace.ug.edu.gh preparati on and planni ng for reti rement should start i n the fi rst month an i ndi vi dual starts work, no matter the age one secures hi s or her fi rst job i n the labour market. I n the li ght of thi s dreadful phenomenon, whether one i s neari ng reti rement age or i s away from reti rement, anti ci patory behavi our should be consci ously developed to cauti on i ndi vi dual’s to make concrete or formal plans to deal effecti vely wi th the i nevi table event or stage and i ts associ ated challenges for future comfort. Planni ng i s the process of setti ng goals, developi ng strategi es, and outli ni ng tasks and schedules to accompli sh the goals (USAI D, 2014). Planni ng could likewise be defi ned as a deci si on maki ng, whi ch i nvolves the i denti fi cati on of problems, ranki ng of needs, mobi li zati on, allocati on and uti li zati on of resources to meet those needs (Yakobobki , 2007). Planni ng, regardless of the level, i nvolves consi derati on of the exi sti ng si tuati on i n relati on to the desi red state, whi ch i s i n the future and maki ng deci si ons regardi ng resource allocati on and project types; and the i mplementati on, moni tori ng and evaluati on of the i nvestment programme to ensure that planned objecti ves are achi eved (USAI D, 2014). A reti rement plan i s an arrangement to provi de people wi th an i ncome, possi bly a pensi on, duri ng reti rement when they are no longer earni ng a steady i ncome from employment, or an asset from whi ch a person may draw an i ncome from as needed (Yakobobki , 2007). Reti rement planni ng as such is the process of establi shi ng a reti rement i ncome goal and gatheri ng i nformati on about one’s potenti al sources of reti rement i ncome (Yakobobki , 2007). The i nformati on gathered i s then used to help determi ne whether or not the i ndi vi dual’s projected reti rement cash flow i s adequate to fund one’s needs. Reti rement planni ng i nvolves projecti ng i ndi vi dual needs and goals after one reaches 43 University of Ghana http://ugspace.ug.edu.gh an age when he/she can no longer take an acti ve part of the work force (I brahi m, I sa, & Ali , 2012; Yeung, 2013). Thi s planni ng i nvolves the person’s future li festyle, where to li ve, legal matters, fi nanci al matters, health concerns, and estate management. The chances are that people wi ll li ve for several years after they leave acti ve employment so they need to be sure of good preparati on to support them and thei r dependents (Yeung, 2013). Seri ous reti rement planni ng and i nvestment i s much more than reti rement savi ngs plan, stock portfoli o, and other i nvestments. Planning i s really about evaluati ng one’s reti rement dreams, goals, and envi si oni ng one’s fi nanci al future (Donaldson, Earl & Muratore, 2010). Thus, reti rement planni ng i s the thought and commi tment that one puts i nto provi di ng for i ncome and a sati sfactory li festyle for later years after leavi ng the acti ve workforce. I t i s to do wi th all the processes that would enable an i ndi vi dual to reali ze hi s/her aspi rati ons i n li fe, whi ch would guarantee one’s well-bei ng after wi thdrawal from an acti ve worki ng li fe. Reti rement has three facets: the young workers are anxi ous to reach reti ri ng age; the old ones are afrai d to reti re; and the reti rees wi sh they never went (Muratore & Earl, 2015). Planni ng for reti rement does not occur suddenly i n one’s worki ng li fe; rather i t i nvolves a seri es of steps to be taken by the i ndi vi dual duri ng the acti ve worki ng years when he/she was young (I bbott, Kerr, & Beaujot, 2010). To support thi s vi ew, Tang, Choi  and Goode (2013) stated that the employment sets the stage for growi ng old. Therefore, anyone who enters employment has a beli ef that he/she wi ll one day grow old, and when the agi ng process begi ns, there wi ll come a ti me when he/she wi ll be called upon to reti re from acti ve servi ce. Before wi thdrawi ng from acti ve servi ce, there i s a need to prepare towards reti rement to help 44 University of Ghana http://ugspace.ug.edu.gh the i ndi vi dual overcome possi ble shock. Concerni ng reti rement preparati ons, Herrbach, Mi gnonac, Vandenberghe and Negri ni  (2009) are of the vi ew that i t i s very i mportant to expose workers to the facts of li fe about reti rement i ncome. They further stated that exposure wi ll be best for those just enteri ng the job. They suggested that, i n prepari ng for reti rement, soci ety should alert them to the fi nanci al, physi cal, and soci al pre-requi si tes of reti rement early enough to be effecti ve. Herrbach et al. (2009) further explai ned that, to enable the employee to know hi s/her stand, he/she should be helped to make di rect compari son between the average salary of a mature employee i n a gi ven occupati on and the soci al securi ty benefi ts he/she would probably recei ve on reti rement. But, Wi lson, Aba and Aggrey (2012) i n their study stated that the soci al securi ty and pensi on i ncome cannot help solve all the problems faced i n reti rement. Therefore, duri ng the preparati on, workers must be put i n a posi ti on to see the need to make addi ti onal i ndi vi dual fi nanci al preparati on to assure themselves of a happy and producti ve li fe i n reti rement. I n Jorgensen and Henderson’s (1990) vi ew, people can benefi t from preparati on for reti rement years, i f they were able to i denti fy acti vi ti es that play i mportant roles i n thei r li ves. To eli mi nate the feeli ngs that they have nothi ng to contri bute to soci ety, another preparati on programme, i n the opi ni on of Jorgensen and Henderson (1990), i s to help the i ndi vi dual to develop an i denti ty i n addi ti on to their work i denti ty. Thi s i mpli es that one should not be pre-occupi ed to hi s/her work only, and that there should be ti me for other acti vi ti es i n order to mai ntai n a posi ti ve self-i mage i n reti rement years. Reti rement can be gradually entered i nto through parti al reti rement programmes i nstead of bei ng subject to sudden reti rement. I n the opi ni on of Jorgensen and Henderson (1990), workers reti rement planni ng and counseli ng should have the opti ons of gradually reti ri ng; that i s 45 University of Ghana http://ugspace.ug.edu.gh reduci ng the number of hours of part-ti me work or taking longer vocati ons pri or to reti rement. Thi s wi ll help to prepare the person to face the reali ti es of li fe i n reti rement. Jorgensen and Henderson (1990) stressed that awareness should be created i n the i ndi vi dual to reali ze that work need not be pai d work. To them, work at home, volunteer work, and helpi ng relati ves, nei ghbors and the communi ty can be consi dered as work roles. When these roles are accepted, i t can help the reti red to adjust well to a sati sfactory reti rement li fe. Reti rement planni ng therefore was only the concern of the ri ch nobi li ty. I n thei r work on adult development and agei ng, Perlmutter and Hall (1992), as ci ted i n Addi son (2001), wrote that the concept of a reti rement plan, whi ch means wi thdrawal from the labour force yet conti nui ng to be pai d, i s a relati vely new development. I t i s a phenomenon that appears to be connected wi th i ndustri ali zati on‖ (Perlmutter & Hall, 1992, p.31). Duri ng the 19th century, they contend, only a mi nori ty of the populati on li ved long enough to reach today’s reti rement age and the average worker was sti ll employed at the ti me of death. Those who survi ved conti nued to work as long as they were physi cally able, and i n predomi nantly agri cultural areas, there was always work for them to do. Ward (1979) ci tes four reasons, whi ch he labelled “forces” i n hi s work - The Agei ng Experi ence - as the genesi s of formal reti rement planni ng. Ward (1979) observed that, as i ndustri ali zati on proceeded, several forces acted at once to create an atmosphere conduci ve to the emergence of reti rement as an i nsti tuti on. These forces are: decli ne i n the demand for labour, a trend whi ch began i n the 1870s and reached i ts peak i n USA wi th 30% unemployment i n 1930s; technologi cal transformati ons of the economy, whi ch led to accelerated obsolescent of the knowledge and ski lls of older workers; growth of large scale bureaucraci es wi th i mpersonal rules and regulati ons 46 University of Ghana http://ugspace.ug.edu.gh governi ng, among other thi ngs, the reti rement deci si on; and growth of pri vate pensi ons and soci al securi ty, whi ch provi ded the economi c base to support reti rement. Accordi ng to Poteraj (2008), the emergence of a reti rement plan as an offi ci ally sancti oned event i s traced back to a German Chancellor Otto von Bi smarck, who i n 1891 legi slated the Old Age and Survi vors Pensi on Act. Thi s act establi shed reti rement at the age of 70 years. On hi s part, Pratt (1976) notes that reti rement planni ng came of age i n USA wi th the development of economi c programmes to support the aged outsi de the workforce. The early 1920’s marked the begi nni ng of the dri ve for old age securi ty i n the Uni ted States as agi ng based organi zati ons sought a government sponsored nati onal pensi on system. The great depressi on however, forced the country to take noti ce of the economi c pli ght of the aged. The result was the Soci al Securi ty Act i n 1935, whi ch not only provi ded a degree of economi c securi ty to many persons aged 65 and over, but set i nto moti on a trend towards labour force exi t at or before 65 (Pratt, 1976). Thus, whi le the vari ous explanati ons offered above suggest that the phenomenon of reti rement i s relati vely a 20th century happeni ng i n the world, one sure bet i s that i t i s and would be a lasti ng phenomenon for whi ch workers must adequately prepare for. 2.6 Types of Retirement Planning Approaches Scholars on reti rement planni ng developed di fferent models for reti rement planni ng i n an attempt to address the i ll-preparedness of workers towards an exi t from the acti ve workforce. The approach assumes that a household’s goal should be to have the same real consumpti on i n reti rement as of now. Thus, the standard approach to the 47 University of Ghana http://ugspace.ug.edu.gh evaluati on of reti rement adequacy, suggests that constant savi ngs should be contri buted each year to a reti rement account, between now and reti rement. The result of Hua and Cheung’s (2008) work usi ng thi s model i s that household heads ranged i n age from 22 to 59, wi th a medi an of 31. Of the worki ng households, 18 only 33% were on track to achi eve thei r desi red level of li vi ng i n reti rement. The medi an age of those not prepared for reti rement was 28, compared to 35 for those prepared for reti rement. A possi ble conclusi on one could draw i s that preparati on towards reti rement i ncreases wi th age. The li mi tati on of the approach, however, i s that the expected real rate of return on reti rement assets i s taken i nto account, but could not control for the elasti ci ty of margi nal uti li ty wi th respect to consumpti on, and di d not take i nto account the personal di scount rate. I n the 1990s, fi nanci al planners developed a model based on a Person's Life Cycle to help people understand reti rement planni ng and other fi nanci al planni ng i ssues (Vanduffel et al., 2008). I t i s called the li fe cycle approach to reti rement planni ng. Thi s model generally di vi des a person's li fe i nto fi ve ti me-peri ods or stages for whi ch speci fi c concerns are paramount to the i ndi vi dual. These are ages of majori ty, responsi bi li ty, maturi ty, reflecti on and tranqui li ty. The age of majori ty starts from age 18 and ends at age 30 years. A person at thi s stage i s generally sti ll si ngle and fi rst begi ns earni ng money as an adult. There i s no better peri od than thi s to start savi ng for reti rement, but i t i s the most i gnored peri od of reti rement planni ng. The age of responsi bi li ty i s the peri od from age 30 to 45, whi ch i ncludes those wi th developi ng careers and growi ng fami li es. At thi s poi nt, the feeli ng that i t i s all downhi ll from here i s true at least when i t comes to savi ng for reti rement. Ages 45 to 55 years consti tute the age of maturi ty where people are theoreti cally approachi ng the hei ght of thei r 48 University of Ghana http://ugspace.ug.edu.gh careers and fami ly development. The age of reflecti on starts at age 55 years and ends at about age 65 years, where people are usually i n the pre-reti rement phase and have the "empty nest" syndrome to look forward to (i n Ghanai an workers’ case, i t would be 55-60 years). The last stage i s the age of tranqui li ty, whi ch i s age 65 or above. At thi s stage i n a person's li fe, hopefully fi nds the reti ree enjoyi ng the frui ts of hi s or her labour and deali ng wi th post-reti rement i ssues. Thi s model's greatest strength and i ts greatest weakness are the same: i ts si mpli ci ty. There i s no model that could ever hope to neatly pi geonhole every major li fe event i nto ti dy age compartments (Vanduffel et al., 2008). People may start or change careers or fami li es late i n li fe. Any number of si mi lar li fe events may occur at any poi nt i n a person's li fe. At the same ti me, reti rement planni ng i ssues can become qui te complex and a li fe cycle model could help a teacher/pastors to make sound planni ng deci si ons wi thout bei ng overwhelmed. Psarrakos (2008) posi ts that no matter where i n the li fe cycle an i ndi vi dual i s, he/she wi ll always face uni que challenges that may requi re di fferent reti rement strategi es. On the other hand, there wi ll always be reti rement planni ng i ssues that come up agai n and agai n. As workers navi gate through the li fe cycle stages, they ought to remember that most planni ng i ssues wi ll i nvolve answers to the followi ng questi ons: How much ti me do I  have left unti l I  can reti re? How much can I  i nvest toward reti rement? You cannot go on dreams alone. “You have to put some numbers behi nd your dreams" (Rowe & Kahn, 1987, p.143). A general soci al survey found that 60% of recent reti rees who left the labour force early have had second thoughts, often because of fi nanci al constrai nts (Cahi ll, Gi andrea, & Qui nn, 2015). Thi s means that many have returned to work after thei r i ni ti al reti rement often for fi nanci al reasons. Accordi ng to Mi tchell 49 University of Ghana http://ugspace.ug.edu.gh and Utkus (2005), employees are bei ng gi ven more and more deci si ons to make regarding thei r pensi on and healthcare plans. Yet research i n the soci al sci ences i ncreasi ngly shows that the deci si ons 'real' people make are not those of the thoughtful and well-i nformed economi c agent often portrayed i n economi c research, but are often based on flawed i nformati on and made wi thout full understandi ng of thei r fi nanci al i mpli cati ons. To forestall return to work and planni ng based on flawed i nformati on, McKi nney, Jr (2003), proposes some ways an i ndi vi dual could prepare for reti rement. These ways i nclude revi ew of one’s fi nances, reti rement needs or goals, soci al securi ty and benefi t statements (Kelly et al., 2012). I t i s esti mated that one wi ll need between 70% and 90% of the current i ncome to mai ntai n the same standard of li vi ng after reti rement (Boveda & Metz, 2016). I n addi ti on, the i ndi vi dual should hold di scussi ons wi th the Human Resource representati ve of hi s/her department, talk to one’s spouse and fami ly at large. Fi nally, the potenti al reti ree ought to develop a healthy li festyle, open an i ndi vi dual reti rement account (I RA), and thi nk about how to spend ti me. Nothi ng i s more frustrati ng than to have ti me but nothi ng to do (Moffatt & Heaven, 2017). Although these approaches may not be bluepri nt for successful reti rement planni ng, they offer useful gui deli nes. 2.7 Psychologi cal Preparati on for Reti rement A confi dent atti tude towards reti rement predi cts good adjustment. Research i ndi cates that, wi th thi s atti tude, reti rement may entai l posi ti ve psychologi cal consequences, 50 University of Ghana http://ugspace.ug.edu.gh i ncludi ng i ncreased self-esteem and decreased depressi on (Wells & Kendi g, 1999:111). The problems of agi ng are real, but above everythi ng else, the older person’s atti tudes determi ne how he wi ll deal wi th the problems and overcome them. For the majori ty of people, reti rement bri ngs li ttle change i n li fe sati sfacti on, although there i s generally an i ncrease i n sati sfacti on among very healthy reti rees. The two pri nci pal acute factors i nfluenci ng self-esteem and li fe sati sfacti on are reti rement and wi dowhood (Colli ns, 2006:295; Stuart-Hami lton, 2000:152, 54). Jai s (2005:136) says he wants and needs to admi t that, i n hi s earli er reti rement ti mes, he was anxi ous, fearful, experi enci ng some depressi on and an uncomfortable further awakeni ng to the ever i ncreasi ng nearness of mortali ty. He i s aware of the fact that the end i s closer and closer and he assumes thi s i s hi s fi nal developmental stage. Stuart- Hami lton (2000:152) conti nues wi th the same pattern of thought by stati ng that people approachi ng reti rement tend to be anxi ous and self-deprecatory, but i n most i nstances, once people have stopped worki ng, they enjoy i t. Unfortunately there are some people who experi ence psychologi cal problems, because they no longer feel useful. For Wri ght (1996:60), the other si de of the li berati on from telephone calls, correspondence and unexpected callers, i s the way i n whi ch one i s si lently bei ng told that one i s not needed any more. Feeli ngs of rejecti on that often affli ct people can be a major restrai nt to thei r maturi ty i n Chri st (Anderson, 2000:199; Brunsdon & Lotter, 2007:295). Even though a pastor never ceases to be a pastor, the loss of status can be a transi ti on from “bei ng an actor i n the proceedi ngs to bei ng what …. seems li ke a spectator” as Wri ght (1996:60) puts i t so colourfully. Glass (1995:16) poi nts out that one of the fi rst i ssues some pastors must deal wi th i s the loss of i denti ty and status. The questi ons: 51 University of Ghana http://ugspace.ug.edu.gh “Who am I ? Who am I  as a reti red pastor?” are i mportant. One day he i s the Chi ef Executi ve Offi cer of an organi sati on and the next day he i s not. The reti ree may go through a major peri od of i ndi vi dual and soci al amputati on. An emeri tus pastor once sai d: “I t i s li ke cutti ng off your fi nger.” Before reti rement the emphasi s has been on what a person does; after reti rement the evaluati on may need to be on what he i s. Bamsey (2002:14) confesses that he was not prepared for the changes that were related to hi s personal i denti ty after reti rement. He was wonderi ng who he would be i f not a pastor. I n reti rement there were no dai ly remi nders that hi s words and behavi our counted i n any venue beyond hi s fami ly and fri ends. Even attendi ng church brought unexpected reacti ons. When he heard others preach, he found hi mself wi shi ng that he could preach agai n. Lymberg (2005:21) contends that, although the elderly experi ence some psychologi cal changes regardi ng matters such as i ntellectual functi oni ng, cogni ti ve abi li ty, memory and learni ng, the profound effects of these changes are not as dramati c as what i s tradi ti onally beli eved. Nothi ng i n the process of agei ng, leaves older adults i ntri nsi cally unable to cope wi th psychologi cal demands of everyday li fe. What is more, i t seems that the elderly are amazi ngly resi li ent i n the face of these pressures. Regardi ng the needs of older people, Koeni g and Weaver (1996:231) make menti on of 25 major psychologi cal and spi ri tual needs. (Due to space they cannot all be menti oned here.) The i mportant fact i s that emeri tus pastors must be aware of the reali ty that they have certai n needs and how they can be met. I t i s theori sed that psycho-soci al resources, i ncludi ng cogni ti ve capaci ty, personali ty factors and other i nternal strengths provi de buffers agai nst negati ve effects of the agi ng process (Bye & Pushkar, 2009:320). 52 University of Ghana http://ugspace.ug.edu.gh I n spi te of the i ni ti al negati ve feeli ngs after reti rement i t seems as i f emeri tus pastors soon adapt to the si tuati on. Ki lli nger’s (2006:552) curi osi ty was aroused by the ease wi th whi ch some pastors i n hi s study had hi dden, di smi ssed, or forgotten the pai n of what he calls “orphanhood”. He menti ons that some di d recall the pai n through engagement wi th the numi nous. Psychologi cal preparati on for reti rement was i ni ti ally conceptuali zed as a mental process that entai led thi nki ng and readi ng about reti rement, and talki ng about i t wi th fami ly members and colleagues. Thi s i ni ti al phase starts wi th employees conceptuali zi ng the general possi bi li ty of reti rement (Wahrendorf, Dragano, & Si egri st, 2013). For Borsh-Supan and Jurges (2009), the construct i s i nfluenced by the employee’s capaci ty to put the reti rement questi on i nto a personal hi stori cal framework (Dave, Rashad, & Spasojevi c, 2008). The i ndi vi dual assesses thei r past work experi ence, and i magi ne thei r future state and status wi thout thei r current job role, and vi suali ze what they would need i n terms of emoti onal and physi cal effort and resources (i ncludi ng ti me and money) to make a transi ti on to a successful reti rement scenari o (Feldman & Beehr, 2011). Psychologi cal preparati on for reti rement wi ll depend on how reti rement i s percei ved. A classi c research by Blekesaune (2005) i denti fi ed four di mensi ons or li fe style postures towards transi ti on to reti rement. Reti rement can be seen as an opportuni ty or a welcome begi nni ng to a new phase of li fe, or as a conti nuati on of the pre-reti rement li fe style, or an unwelcome and i mposed di srupti on, or as a transi ti on to old age or the begi nni ng of the last phase of li fe. Coursolle, Sweeney, Raymo, and Ho (2010) portrays the di mensi ons as a plurali ty of li fe worlds, where reti rement releases a person to look at some di fferent roles and i ndulgences i n hi s li fe. 53 University of Ghana http://ugspace.ug.edu.gh The three factors that are central i n defi ni ng reti rement expectati ons, and ensuri ng psychologi cal preparati on for reti rement are: 1. the percei ved self-effi cacy of adjustment to reti rement; 2. the anti ci pated soci al i nteracti on after reti rement; and 3. the atti tudes towards lei sure (Ni kolova & Graham, 2014). Research shows that hi gh self-effi cacy scores are associ ated wi th greater ease i n adjustment to reti rement (Van Soli nge & Henkens, 2010). Psychological preparation may similarly constitute preparation for health. Preparati ons for acti ve and healthy agei ng remai ns i ndi spensable because one needs to be acti ve to be able to enjoy all the accumulated savi ngs duri ng acti ve labour. People acqui re, expand and deepen thei r knowledge of quali ty agei ng and mai ntai ni ng health i n the thi rd age through a range of di fferent sources – educati onal programmes, meeti ngs wi th experts from health, soci al, educati onal, fi nanci al and other i nsti tuti ons, vari ous news medi a and the I nternet. At key moments, people have to have access to credi ble, professi onal and understandable i nformati on. Employers can encourage thei r employees to plan the termi nati on of regular and full employment and, consequently, a less stressful peri od thereafter (De Vaus & Kendi g, 2007). Unti l now, three theori es emerged wi th regard to reti rement, namely: 1. Acti vi ty Theory, whi ch requi res acti ve agei ng. 2. Disengagement Theory, whi ch i ncludes gradual reti rement. 3. Continui ty Theory, whi ch draws attenti on to the human need to mai ntai n conti nui ty of the li fe flow. 54 University of Ghana http://ugspace.ug.edu.gh A person leavi ng an acti ve worki ng peri od should not perform thi s transi ti on wi thout knowi ng what to expect. I n a modern, i ncreasi ngly speci ali zed soci ety, reti rement i s a soci al successor of work, whi ch i s organi zed away from home and i s separated from i t and, i n addi ti on to personal, i t has soci al di mensi ons. Di sengagement from employment due to old age occurs after the peri od of pai d professi onal acti vi ty and i s accompani ed by changes i n soci al relati ons, (Bonsang & Klei n, 2012). Health can be regarded as the most i mportant deci di ng factor of one’s reti rement. Even though i t seems as i f the majori ty of older people are healthy and li ve i ndependent li ves, there are elderly who do experi ence physi cal health concerns. I n the process of physi cal agei ng there comes a poi nt at whi ch body energy levels are not so easi ly repleni shed. I t i s sad that many elderly can’t afford to have medi cal i nsurance and i s dependent on State Hospi tals wi th practi cal di ffi culti es li ke getti ng there early i n the morni ng and wai ti ng hours to be helped. Stassen (2012) wrote i n an arti cle that pri vate medi cal i nsurance i s a luxury less than 16% of South Afri cans can afford, and i t i s not getti ng cheaper. The average contri buti on per medi cal scheme benefi ci ary every year has i ncreased from R1800 i n 1981 to nearly R9900 i n 2007. Van Deventer (2011:3) rai ses the poi nt that, due to the fact that people are getti ng older, organi sati ons, churches and the State must make provi si on i n thei r budgets for medi cal i nsurances and cheaper medi cati on for elderly. A number of elderly further fi nd i t di ffi cult to li ve wi thi n the boundari es of avai lable energy and, consequently, adjustments i n li festyle are often needed. I t i s necessary to make choi ces about what i s most i mportant (Kerr & Schulze, 2004:16; Kropf & Hutchson, 2000:5; McKi nlay, 2001:145; Phi lli ps et al., 2005:16). 55 University of Ghana http://ugspace.ug.edu.gh Osmer (2007:113) ri ghtly says that old age i s not a di sease and nei ther i s i t a di sabi li ty. He puts i t thi s way: “There are di seases of old age and there are di seases i n old age but the process of agei ng i s not one of di sease” (Eckley, 2011:1; Phi lli ps et al., 2005:16). Although agei ng i s not i n i tself a di sease, there are some physi cal changes. Getti ng older i s a normal process, but the agei ng process can have an effect on a person’s psychologi cal and soci al li fe. Lymberg (2005:15) i ndi cates that many older people experi ence some measure of heari ng loss. When the loss of heari ng has an i mpact on day-to-day li vi ng i t can create some practi cal and psychologi cal problems. She further explai ns that some elderly also experi ence i mpai rment of vi si on. Change to one’s bi ologi cal makeup further affects bodi ly appearance as one grows older, e.g. wri nkli ng of the ski n, and hai r that lose thei r pi gment wi th age. Wi lson (2000:5) remi nds us that baldi ng or gray hai r i s tradi ti onally associ ated wi th agei ng and someti mes wi th wi sdom. He adds that these are si gns of change but i t would be hard to defi ne i t as “old age”. The World Health Organi sati on (2013) defi nes health as a posi ti ve condi ti on and not si mply as the absence of di sease or i nfi rmi ty. Even though thei r metaboli c rates slow down and thei r strength decli nes, older people can sti ll enjoy quali ty of li fe. The relati onshi p between health and i llness, frai lty, old age and the li fe course i s complex, but a healthy old age i s possi ble (Osmer, 2007:5, 113). The elderly can fi nd thi s promi se i n Ps 92:14 “They shall sti ll bri ng forth frui t i n old age; they shall be fat and flouri shi ng”. Spi ri tuali ty plays an i mportant role i n health and health problems. Deeply reli gi ous people recover faster from i llness than people who don’t have such a profound fai th. 56 University of Ghana http://ugspace.ug.edu.gh There appears to be a connecti on between congregati onal membershi p and worshi p, better physi cal health and i mproved longevi ty (Mi tchell, 2005:212). Wells and Kendi g (1999:111) aver that, as a li fe transi ti on, reti rement may offer major prospects for health-promoti ng li festyle changes wi th ongoi ng affect on health and wellbei ng. Older people i ncreasi ngly recogni ze the benefi ts of a healthy li festyle (Montague et al., 2002). As wi th other soci al changes, good health predi cts better adjustment to reti rement. Recently reti red people were found to have experi enced current dwi ndli ng physi cal and soci al acti vi ty but i ncreases i n happi ness. Hi gh self- esteem and sense of coherence predi cted posi ti ve changes i n health behavi our and wellbei ng (Kropf & Hutchi nson, 2000:49). I n contrast wi th thi s, MacDonald (2010:13) di scovered that havi ng low levels of health and physi cal functi oni ng di d not prevent most people from bei ng i n good psychologi cal health. 2.8 Economi c and Financi al Preparati on for Retirement Unknowi ngly for most workers, there are statutory provi si ons li ke SSNI T, Provi dent fund etc., which is mandatory for most employers and employees to contri bute as a way of prepari ng towards reti rement. Nonetheless, there i s evi dence that the amount recei ved by reti rees duri ng reti rement i s qui te meager. For i nstance, by 31st December 2011, the Trust had a total regi stered membershi p of 1,390, 945. Out of thi s number 963,619 are acti ve members and 112,522 are pensi oners who recei ved pensi on payments. The mi ni mum pensi on pai d per month was GH¢45.06 and the hi ghest pensi on was GH¢6931.88 wi th an average pensi on of GH¢351.42. Most workers therefore, rely on SSNI T after reti rement as a means of survi val, but unfortunately, most Churches do not even pay SSNI T for some of thei r Ordai ned Mi ni sters, the 57 University of Ghana http://ugspace.ug.edu.gh Presbyteri an Church of Ghana not bei ng an excepti on (Social Security and National Investment  Trust Annual Report, 2011). The economi c preparati on for reti rement has long been an i nteresti ng i ssue for researchers. I n general, the fi ndi ngs show that reti rement plan parti ci pati on i ncreases wi th age, earni ngs, and educati on; and parti ci pati on rates are hi gher for men, whi tes, and i ndi vi duals who are marri ed. Jahns (1976) found that those who planned more extensi vely for fi nanci al needs duri ng reti rement had the stronger fi nanci al securi ty. Ki m et al. (2005) reported that those who calculated thei r reti rement fund needs had more savi ngs; whi le Hassan and Lawrence (2007) reported that those who planned for reti rement were more li kely to contri bute to the pensi on plans. I n addi ti on, some studi es focused on the li nkages of fi nanci al li teracy and knowledge of people wi th economi c preparati on for reti rement (Wong & Earl, 2009); whi le others focused on the adequacy of economi c resources i n reti rement (Bi dewell, Gri ffi n, & Hesketh, 2006). Andrews (1992) reported that reti rement plan eli gi bi li ty i ncreases wi th age, earni ngs, fami ly i ncome, and tenure. I n addi ti on, gender, age, mari tal and fami ly status, and i ncome all i nteract i n uni que ways for those covered under defi ned benefi t pensi ons versus those under defi ned contri buti on plans. Spri ngstead and Wi lson (2000) found that parti ci pants i n reti rement savi ngs vehi cles tend to be male, hi gher wage earners, older, fullti me employees, and ei ther whi te or non-black mi nori ti es. Clark and Schei ber (1998) reported that plan characteri sti cs and communi cati on have the largest i mpact on employee parti ci pati on and contri buti on so that employers can i mprove both plan parti ci pati on rates and employee contri buti on levels by i mplementi ng a program to 58 University of Ghana http://ugspace.ug.edu.gh better i nform employees about the detai ls of the company reti rement plan. Usi ng data from the 1989 Survey of Consumer Fi nances, Malroutu and Xi ao (1995) reported that age, educati on, race, job tenure, and employment status have a si gni fi cant effect on reti rement preparati on. The authors found that whi tes, pre-reti rees between 31-59 wi th hi gher educati on, and homeowners are more li kely to have reti rement or pensi on plans. Conversely, self-employed and marri ed pre-reti rees are less li kely to have reti rement or pensi on plans. Regardi ng contri buti on rates, pre-reti rees wi th hi gher educati on and longer job tenure are more li kely to contri bute to thei r pensi on plans. I n contrast, whi tes, marri ed pre-reti rees, and respondents i n good health are less li kely to contri bute to pensi on plans. Si ngle women tend to choose more conservati ve i nvestment allocati ons i n thei r reti rement accounts than do si ngle men. However, wi thi n marri ed households, no si gni fi cant gender di fferences i n asset allocati on were found (Lancaster & Raj, 2009). Men work for an average of 44 years whi le women work for an average 32 years (Stefan, 2009). Every year that you work fewer months means less reti rement i ncome (Stefan, 2009). Women on average are not as adequately prepared for reti rement compared to men (Borstorff, Thomas & Hearn, 2007). Felton, Gi bson and Sanbonmatsu (2009) reported that men are more li kely to not only save more for reti rement, but i nvest i n more aggressi ve fi nanci al mechani sms. Phua and McNally (2008) found that younger men were much less li kely to be savi ng for reti rement and they made a much stronger di sti ncti on between pre-reti rement planni ng and fi nanci al planni ng for reti rement, whereas eight older men saw these two forms of planni ng as more closely ali gned. 59 University of Ghana http://ugspace.ug.edu.gh The older the i ndi vi dual i s, the more li kely that the i ndi vi dual wi ll reti re (Wahrendorf, Dragano & Si egri st, 2013) and thei r engagements i n further employment become i ncreasi ngly li mi ted. Taylor et al. (2009) found that older workers from lower i ncome brackets, whi ch have hi gher proporti ons of women and mi nori ti es, are less li kely to engage i n both i nformal and formal reti rement planni ng. Tradi ti onally, older workers do not seri ously start planni ng for reti rement unti l very close to the actual reti rement deci si on. However, Ekerdt (2010) has noted that reti rement i s no longer a concern only for the second half of li fe, especi ally gi ven the preci pi tous shi ft of the ri sk of fundi ng reti rement from the employer to the i ndi vi dual employee. Thus, reti rement planni ng needs to not only start sooner i n one’s li fe, but also the focus of reti rement planni ng may need to be substanti ally di fferent duri ng vari ous li fe phases (Phua & McNally, 2008). Fami ly i s an i mportant li fe domai n that may i nfluence reti rement and employment status (Hershey, Henkens, & Van Dalen, 2007). Speci ally, spouse status, spousal support, and mari tal and dependent care status have been shown to be related to reti rement deci si ons (Van Soli nge & Henkens, 2014). However, Wang et al. (2008) reported that fami ly related vari ables such as mari tal status and quali ty were not related to reti rement deci si ons. Educati on has been demonstrated to be related to reti rement preparati on (Von Bonsdorff, Shultz, Leski nen & Tansky, 2009). Hi ghly educated i ndi vi duals have more capaci ty and opti ons i n mai ntai ni ng thei r li fe patterns because of thei r professi onal knowledge, and ski lls. Thus, they may have more opportuni ti es to conti nue to work i n 60 University of Ghana http://ugspace.ug.edu.gh thei r career fi eld by engagi ng i n consulti ng or other entrepreneuri al roles (Ekerdt, Kosloski , & Devi ney, 2000). Health i s another major factor that i nfluences reti rement preparati on (Noone, Stephens & Alpass, 2010; Damman, Henkens & Kalmi jn, 2015). Health problems mi ght lead to constrai nts on an i ndi vi dual’s abi li ty to perform effecti vely or achi eve conti nui ty of li fe structure through further parti ci pati on i n the workforce. Consequently, employees wi th health problems wi ll be more li kely to reti re (Pi t, Shrestha, Schofi eld, & Passey, 2010). Shultz and Wang (2011) found that unfavorable atti tudes toward reti rement were associ ated wi th absence of reti rement planni ng and fai lure to seek i nformati on about reti rement, whi ch i n turn were related to unsuccessful adaptati on to reti rement. A n average, worki ng-age populati on aged 50-59 years old i n Thai land had moderate economi c preparati on for reti rement (Chansarn, 2013). Based on from 1995 to 2007 Survey of Consumer Fi nance dataset, the proporti on of the Ameri can households wi th reti rement adequacy ranges from 44% i n 1995 to 58% i n 2007 wi th i ncome stages (Ki m, Hanna, & Chen, 2014). I ncome i s a predi ctor of reti rement plan preparati on for women i n thei r thi rti es. Women di vorced, separated, or li vi ng wi th a partner, are more li kely to contri bute to thei r pensi on plan through work (Kabi r & Lawrence, 2007). Whi le the medi an marri ed couple of approxi mately 55 years of age holds assets totali ng nearly $400,000, they sti ll must engage i n substanti al savi ng to reti re comfortably at age 62 (Hurd & Rohwedder, 2008). There really i s a reti rement savi ngs cri si s (Munnell, Webb, & Golub-Sass, 2009). Some studi es reported that Ameri cans reti rees who entered reti rement i n 1990s have been recogni zed to accumulate enough 61 University of Ghana http://ugspace.ug.edu.gh fi nanci al resources to support thei r reti rement (Coe & Zamarro, 2011; Ervi n et al., 2009; Hardy, 2011). Fewer than 20 percent of households have less wealth than thei r opti mal target i nvestment, and the wealth defi ci t of those who are under-savi ng i s generally small (Scholz, Seshadri , & Khi tatrakun, 2006). Usi ng data from the 1989 Survey of Consumer Fi nances, Malroutu and Xi ao (1995) reported that age, educati on, race, job tenure, and employment status have a si gni fi cant effect on reti rement preparati on. The authors found that whi tes, pre-reti rees between 31-59 years wi th hi gher educati on, and homeowners are more li kely to have reti rement or pensi on plans. Conversely, self-employed and marri ed pre-reti rees are less li kely to have reti rement or pensi on plans. Regardi ng contri buti on rates, pre-reti rees wi th hi gher educati on and longer job tenure are more li kely to contri bute to thei r pensi on plans. I n contrast, whi tes, marri ed pre-reti rees, and respondents i n good health are less li kely to contri bute to pensi on plans. Si ngle women tend to choose more conservati ve i nvestment allocati ons i n thei r reti rement accounts than do si ngle men. However, wi thi n marri ed households, no si gni fi cant gender di fferences i n asset allocati on were found (Lancaster & Raj, 2009). Men work for an average of 44 years whi le women work for an average 32 years. Every year that you work fewer months means less reti rement i ncome (Kabi r & Lawrence, 2007). Women on average are not as adequately prepared for reti rement compared to men (Burkhauser & Duncan, 2008). Ki m and DeVaney (2005) reported that men are more li kely to not only save more for reti rement, but also i nvest i n more aggressi ve fi nanci al mechani sms. Phua and McNally (2008) found that younger men were much less li kely to be savi ng for reti rement and they made a much stronger di sti ncti on between pre-reti rement planni ng and fi nanci al planni ng for reti rement, whereas older men saw these two forms of 62 University of Ghana http://ugspace.ug.edu.gh planni ng as more closely ali gned. Taylor and Doverspi ke (2003) found that older workers from lower i ncome brackets, whi ch have hi gher proporti ons of women and mi nori ti es, are less li kely to engage i n both i nformal and formal reti rement planni ng. Tradi ti onally, older workers do not seri ously start planni ng for reti rement unti l very close to the actual reti rement deci si on. However, Ekerdt (2004) has noted that reti rement i s no longer a concern only for the second half of li fe, especi ally gi ven the preci pi tous shi ft of the ri sk of fundi ng reti rement from the employer to the i ndi vi dual employee. Thus, reti rement planni ng needs to not only start sooner i n one’s li fe, but also the focus of reti rement planni ng may need to be substanti ally di fferent duri ng vari ous li fe phases (Phua & McNally, 2008). Fami ly i s an i mportant li fe domai n that may i nfluence reti rement and employment status (Szi novacz, 2003), speci ally, spouse status, spousal support, and mari tal and dependent care status have been shown to be related to reti rement deci si ons (Damman et al., 2015; Van Soli nge & Henkens, 2014). However, Wang et al. (2008) reported that fami ly-related vari ables such as mari tal status and quali ty were not related to reti rement deci si ons. Educati on has been demonstrated to be related to reti rement preparati on (von Bonsdorff et al., 2009). Hi ghly educated i ndi vi duals have more capaci ty and opti ons i n mai ntai ni ng thei r li fe patterns because of thei r professi onal knowledge, and ski lls. Thus, they may have more opportuni ti es to conti nue to work i n thei r career fi eld by engagi ng i n consulti ng or other entrepreneuri al roles (Ekerdt, 2010). Health i s another major factor that i nfluences reti rement preparati on (Coe & Zamarro, 2011; Mo Wang & Shi , 2014). 63 University of Ghana http://ugspace.ug.edu.gh Another indispensable area of financial preparation is preparation for accommodation. Most employees’ woes of where to “lay the head” after reti rement causes them to start planni ng for accommodati on before they go on reti rement. Housi ng opti ons avai lable to Ghanaians when prepari ng for reti rement are rental, bui ldi ng one’s self an apartment or the fami ly house. The rental and fami ly house opti ons are associ ated wi th enormous challenges especi ally for a prospecti ve reti ree. However a reti ree who opts for the fami ly house situation may be percei ved as a burden by some ki ndred (Topa, Mori ano, Depolo, Alcover, & Morales, 2009). To Akuamoah-Boateng (1997), renti ng drai ns the fi nance of the reti ree and he advi ses workers contemplati ng thei r housi ng needs to opt for bui ldi ng a very modest house that can be fi ni shed i n ti me and not one that i s to provi de luxury. He rai sed the issue that bui ldi ng a luxuri ous house may not serve i ts purpose i n reti rement because i t may be di ffi cult to mai ntai n. I n planni ng one’s accommodati on duri ng reti rement, one needs to ensure that the chosen locati on wi ll sui t thei r needs consi deri ng medi cal faci li ti es, transportati on systems, general servi ces, rates and taxes on property and cli mati c condi ti ons (Kpessa, 2011). As the quali ty of housi ng characteri sti cs have an effect on the well-bei ng and li fe sati sfacti on, so does the health status of the reti ree. For every one, and especi ally for the aged, thei r dwelli ng and i ts envi ronment are very i mportant. They were accustomed to a certai n area, knowi ng where all the faci li ti es were, and havi ng thei r fri ends there. Because one gets attached to your house i t i s di ffi cult to move away and settle somewhere else (Strydom, 2011:13). The reali ty i s that, unfortunately, i t i s not always possi ble for a pastoral couple to stay i n the church house after reti rement. 64 University of Ghana http://ugspace.ug.edu.gh Glass (1995:19) regards the deci si on where they are goi ng to stay after reti rement as one of the most di ffi cult choi ces the pastor and hi s spouse wi ll have to take. I t i s especi ally problemati c i f they always stayed i n church-owned houses. I f that was the posi ti on they should have saved enough to make a down payment on a house. I t i s i mportant to plan one’s reti rement accommodati on i n advance of the reti rement date and not to leave i t to the last moment. Housi ng opti ons vary greatly and are related to fi nanci al well-bei ng (Knap et al., 2009:150). 2. 9 Soci al Preparati on for Reti rement There i s evi dence that soci al relati onshi ps remai n an i ndi spensable aspect of wellbei ng i n old age, and reti rement i s frequently regarded as one of the most profound soci al adjustments (Kropf & Hutchi nson, 2000:49). Li twi n (2011:213) postulates that relati onshi ps affect wellbei ng and the quali ty of li fe. I t composes a means by whi ch to accompli sh wellbei ng i n later li fe. Li twi n and Shrovi tz-Ezi a (2006:237), i n addi ti on, accentuate the fact that the wellbei ng of older people i s not so much a result of what they do, but rather of wi th whom and how they feel about them. Such relati onshi ps can provi de the resources and/or the devi ces by whi ch to attai n a range of results that reflect quali ty of li fe i n very old age. I t further promotes posi ti ve contri buti ons to one’s communi ty. On the other hand, a lack of sati sfyi ng i nteracti on and loneli ness can lead to seri ous physi cal and psychologi cal problems (Kropf & Hutchson, 2000:5; Lovell, 2009:53; Montague et al., 2002:6). For Laban (2000:5), the greatest challenge of agi ng i s not the threat of having ti me on your hands, poverty or i ll-health. Rather i t i s faci ng the fear of loneli ness. I n a sense, loneli ness i s a functi onal cri si s. Soci al opportuni ti es and resources decrease and thi s 65 University of Ghana http://ugspace.ug.edu.gh loneli ness and i solati on has an effect on the elderly. Some aged further feel that they no longer have a functi on i n the fami ly and i n soci ety. Strydom (2011:9) eluci dates that one of the most i mportant needs of man i s to be of value and thi s gets lost as he ages. Thi s loss not only affects hi s self i mage but has a reacti on on hi s relati onshi p wi th others. Van Deventer (2011:4) says that, i n the process of agei ng, a soci al network i s one of the most i mportant bui ldi ng blocks towards a happy and meani ngful li fe, and i t i s i mportant that older people be acti vely i nvolved wi th other persons. He defi nes a soci al network as a soci al structure consi sti ng of i ndi vi duals connected to each other wi th factors li ke love, fri endshi p, relati onshi p, and i nterests. No human bei ng exi sts i n i solati on and everyone i s dependent on other human bei ngs, and to operate effecti vely each person needs human bei ngs wi th whom they can soci ali se and exchange i deas. By means of thi s, other people challenge and encourage a person, keep hi m i n contact wi th reali ty, and enable hi m to feel useful. The posi ti ve connecti on between soci al relati onshi ps and wellbei ng i n older people underscores the need to encourage and to safeguard functi onal i nterdependence amongst them (Colli ns, 2007:299; Harri gan & Farmer, 2000:51; Kropf & Hutchi nson, 2000:51; Li twi n, 2011:223; Van Aarde & Watson, 1993:231). I t i s of i mportance that the elderly should have good soci al support. Avai lable soci al support acts as a buffer against stress caused by adapti ng to soci al changes. I t i s found by Stuart-Hami lton (2000:153) that the elderly who have li ttle soci al support have hi gh depressi ve symptoms. Cohen-Mansfi eld (2011:51) refers to other researchers who found that a lack of soci al support i s an i mportant reason for the decrease i n li fe 66 University of Ghana http://ugspace.ug.edu.gh sati sfacti on, and the i ncrease i n depressi on, i n older adults. Requi ri ng support from others i n dai ly acti vi ti es or soci ali si ng was a feature of 75% of older people’s li ves and not an extraordi nary necessi ty i n the research done by MacDonald (2010:13). The choi ce to move to another communi ty or stay i n the same communi ty or move i nto one’s own house would be i nfluenced by many li fe ci rcumstances, whi ch i ncludes one’s fi nanci al resources, health status, reti rement ti mi ng and the responsi bi li ty for cari ng for older parents and/or grandchi ldren (Yeung & Zhou, 2017). Therefore one needs to plan and prepare for a prospecti ve reti rement to enjoy good health i n the future. I nvesti ng i n one’s health i s very i mportant and should be adequately prepared for. The i ntroducti on of Nati onal Health I nsurance (NHI S) i n Ghana i n recent ti mes has made i t possi ble for workers i n the Publi c Sector and the aged over 70 years to benefi t i n some form of free medi cal care (Kapur & Rogowski , 2011). On the other hand, thi s health i nsurances does not cover all categori es of health care needs. I t i s only li mi ted to few out and i n-pati ent treatments and procedures (Nyce, Schi eber, Shoven, Slavov, & Wi se, 2013). Therefore to have adequate health care duri ng post reti rement needs a very huge i nvestment of money duri ng one’s worki ng li fe to cater adequately for health care needs to supplement one’s health care needs not covered by NHI S (Laun & Walleni us, 2016). I n Ghana, most workers reti re wi thout any plan for lei sure acti vi ti es (Akuamoah-Boateng, 2013). But i ndi vi duals neari ng reti rement need to plan for di verse ways they i ntend to use thei r unstructured ti me to pursue lei sure acti vi ti es. I n 67 University of Ghana http://ugspace.ug.edu.gh preparati on for reti rement, lei sure planni ng has been found to predi ct anti ci pated sati sfacti on (Wang & Shi , 2014). I t was found to predi ct one-thi rd of the vari ance i n self-effi cacy; whi le fi nanci al planni ng i nfluences anti ci pated fi nanci al sati sfacti on, lei sure parti ci pati on i s more i mportant for general sati sfacti on (Damman, Henkens & Kalmi jn, 2015). I ndi vi duals who prepare adequately for reti rement i nvolve themselves i n acti vi ti es that promote soci al i nteracti ons, readi ng, and i n soci al and reli gi ous acti vi ti es and parti ci pati on in soci al roles (Cohen-Mansfi eld, 2016). Denton and Spencer (2009) say the choi ce of i ndi vi dual’s lei sure acti vi ti es should be made i n accordance to i nterest, values, goals and atti tudes toward work and lei sure. Prospecti ve reti rees should plan lei sure ensuri ng a balance of di fferent functi ons such as provi di ng soci ali zati on opportuni ti es, relaxati on, enjoyment, i ntellectual sti mulati on encouragi ng conti nued producti vi ty and physi cal exerci se (Kornadt & Rothermund, 2014). However, Qui ne, Wells, De Vaus and Kendi g (2007) warns agai nst the negati ve effect of i ntense commi tment to one parti cular acti vi ty, whi ch could li mi t one’s freedom to engage i n a more balanced sati sfyi ng li fe style. I f an i ndi vi dual anti ci pates enjoyi ng reti rement i n comfort, then one should not delegate these i tems; Medi care, accommodati on, lei sure to the background else would have post reti rement cri si s and stress. 2.10 Spiritual Preparation for Retirement Whilst some see retirement as a period of leisure from the stress of long service, others view retirement as a means of preparing to return to eternity. 68 University of Ghana http://ugspace.ug.edu.gh Although retirement is most related to financial preparedness (Noone, 2011), it is indispensable that individuals' preparing towards retirement include work (career), health, interpersonal relationship, leisure (Petkoska & Earl, 2009) and spiritual (Noor Azima, Jariah & Rahimah, 2013). Spirituality is one aspect of life that has been neglected in retirement research. For the purposes of this study, spirituality is deeply rooted in religion or their perspective of life (Noor Azima, Jariah & Rahimah, 2013) towards retirement preparation. Spiritual retirement planning helps pastors to search for purpose and meaning in life especially towards retirement years. 2.11 Trai ni ng Programmes for Retirement Preparation Pre-retirement preparation may be undertaken officially through seminars, conferences, Church Programmes etc. or informally through discussions with partners or colleague pastors, reading, and talking with friends about retirement. It encompasses both financial preparation as well as preparation for the spiritual, psychosocial and physical changes, such as changes in social status, identity, health, leisure, and family and marital relationships (Noone, 2011). In the 1970s and 1980s, an empirical study by Singleton (1985) suggested that those who participated in pre-retirement preparation were more likely to report greater well- being in retirement. In view of this, it is recommended that past pastors actively participate in retirement training programmes, be it formal or informal training programmes. 69 University of Ghana http://ugspace.ug.edu.gh Dorfman (1989) opines that psychological preparation could include discussing retirement with fellow workers, family members, and retired persons (informal), as well as obtaining material and information on retirement. Family members (formal sources) play important roles in the processes of retirement planning. This proposition reiterates that training programmes remain hypostatic in enhancing effective retirement awareness among pastors. Evidence suggests that individuals who discuss their retirement plans with family members and other relatives appear psychologically more cognizant of the approaching termination of employment than those who do not (Atchley, 1976). Similarly, individuals who are regularly involved in retirement education and counseling programs are likely to be better adjusted in retirement than individuals who are not psychologically prepared (Dorfman, 1989). Bi ngley and Lanot (2007) showed that reti rement i ssues could be managed through counselli ng, i n whi ch behavi oural strategi es were learned. They i denti fi ed several factors that i mpacted on people i n reti rement. These factors were based on the adjustment peri od of si gni fi cant change, whi ch i ncluded: (a) reti rement related stress, anxi ety and depressi on, (b) managi ng loss and gri ef, (c) spendi ng extended ti me wi th one’s partner, and (d) the consequent of lack of opportuni ty for soli tude. He argued that as the pai d work force meets many needs, other ways of meeti ng these needs i n reti rement must be establi shed. For example, these needs i nclude the fi ndi ng of a new i denti ty that mai ntai ns self-esteem, as well as li vi ng a balanced li fe of purposeful acti vi ty and lei sure, whi ch provi des challenge, i nvolvement, and connecti on wi th others. 70 University of Ghana http://ugspace.ug.edu.gh Producti ve strategi es for enjoyi ng a long, happy reti rement i nclude mai ntai ni ng close relati onshi ps and communi cati ng effecti vely wi thi n these relationships through the use of appropri ate asserti veness ski lls, resolvi ng confli ct, and contri buti ng constructi vely (Bonsang & Klei n, 2012). Regular exerci se, a healthy di et and medi cal check-ups are most essenti al (Hernaes, Markussen, Pi ggott, & Vestad, 2013). Mental- emoti onal health needs to be mai ntai ned by deali ng wi th and managi ng stress, anxi ety, depressi on and loss (Olesen, Butterworth & Rodgers, 2012). Havi ng i nsuffi ci ent fi nanci al means for a comfortable li festyle was one of the most powerful factors i nfluenci ng reti rement-based anxi ety, depressi on or stress (Oksanen et al., 2011). Maslow’s (1954) “Hi erarchy of Needs” theory may explai n the negati ve feeli ngs stemmi ng from losses i ncurred upon leavi ng the pai d workforce for reti rement. Maslow’s theory proposed that basi c needs had to be met before one could be moti vated to sati sfy hi gher ranki ng needs (Maslow, 2008). Work fulfi lls many needs. For example, a salary can provi de the basi c needs of survi val, such as food and accommodati on, as well as buy comforts and lei sure pursui ts. The government taxes the salary to provi de law and order, whi ch gi ve people a sense of securi ty and safety (Kpessa, 2011). A feeli ng of belongi ng and the sati sfacti on of soci al needs can be experi enced through i nteracti on wi th colleagues and work-mates, and worki ng together towards a common purpose. Self-esteem i s enhanced by the contri buti on one makes at work, and the recei vi ng a salary, whi ch has been earned (Taormi na & Gao, 2013). Some would even clai m that work provi ded them wi th a means of reachi ng the pi nnacle of self-actuali zati on, the fulfi llment of one’s potenti al. Therefore, those who adjust more easi ly to reti rement are more li kely to be reti rees who meet the needs previ ously met i n the workforce by other means (Poston, 2009). 71 University of Ghana http://ugspace.ug.edu.gh These i nclude doi ng voluntary work, and fi ndi ng a defi ni te purpose for the remai nder of thei r li ves (Sargent, Lee, Marti n, & Zi ki c, 2013). Pre-reti rement acti vi ti es are a way of educati on and learni ng ski lls that faci li tate more or less complex poli ci es and programmes and make them accessi ble and effecti ve for people who are faced wi th agei ng. Vari ous forms of pre-reti rement educati onal acti vi ti es (herei nafter often referred to as pre-reti rement acti vi ti es, pre-reti rement semi nars) are a relati vely new concept that has appeared i n the most developed parts of the world (Sargent, Lee, Marti n, & Zi ki c, 2013). I n the last 10 to 15 years, there have been vari ous workshops across the European Uni on, the Uni ted States, Canada, Japan and Australi a for older workers and the general populati on between the ages of 50 and 80 years, whi ch want to help people after they stop worki ng and are getti ng used to a new peri od of li fe and of "absolute" freedom. After the fi rst 18 months of "reti rement euphori a", whi ch, accordi ng to researchers. look li ke a ki nd of a "honeymoon", their usually comes a peri od of empti ness and boredom, whi ch needs to be fi lled. The body begi ns to show more dramati c si gns of agei ng, chi ldren di stance themselves from i ndi vi duals, they lose fri ends, and they are aware of thei r di sappeari ng soci al status. I t i s possi ble that they develop symptoms of depressi on. I n the Engli sh-speaki ng area, most commonly used terms are pre-reti rement semi nars, courses, workshops etc. E.U Age platform emphasi zes that such semi nars also help i n rai si ng awareness of the general publi c about the fact that the reti rement process can mean the hardest, and the most radi cal change i n an i ndi vi dual`s li ve i n general. 72 University of Ghana http://ugspace.ug.edu.gh Reti rement i s not a standard process and can be flexi ble, as well as an i ndi vi dual`s worki ng career before i t. Therefore, i t i s i mportant that older workers do not follow standard age li mi ts and patterns when deci di ng on when to reti re. Easi ly accessi ble counselli ng and trai ni ng empowers i ndi vi duals at a crossroad and makes i t easi er for them to recogni ze and sei ze the opportuni ti es i n order to face thei r concerns and problems, and the voi d that occurs after the last worki ng day seems less i nti mi dati ng. The purpose of the pre-reti rement semi nars i s a transi ti on to reti rement that takes place wi thout much regret and stress and provi des a better li fe i n reti rement. Pre-reti rement semi nars prepare people for a change, and thei r preparati on for such a change i nfluences on how well they wi ll li ve i n the future. These semi nars are not a complete answer to the demographi c challenges of an agei ng soci ety. But the counselli ng and trai ni ng sessions related to the i denti ty and i nterpersonal relati onshi ps, a healthy and acti ve li festyle, money and property management, planni ng of lei sure ti me and the future, etc are an i nspi rati on to older people to reali ze thei r potenti al for physi cal, soci al and mental well-bei ng duri ng the whole li fe and to acti vely contri bute to the soci ety i n whi ch they li ve. The researcher thus beli eves pre-reti rement semi nars boost the physi ologi cal, psychologi cal and emoti onal consci ousness of would-be reti rees agai nst any unforeseen happeni ngs. 73 University of Ghana http://ugspace.ug.edu.gh 2.12 Elements of Retirement Planni ng Reti rement means di fferent thi ngs to di fferent people: for those i n thei r 20s, i t i s a di stant dream; for those i n thei r 30s and 40s, i t i s a mi nor concern; and for those 50 and beyond, i t i s a reali ty that ought to be dealt wi th (Moorthy & Kai , 2012). No matter the i ndi vi dual’s age, sex or occupati on, there are a few elements that should be consi dered i n reti rement planni ng i f one i ntends to safeguard hi s/her well-bei ng. The most i mportant element, accordi ng to Wai nwri ght and Ki bler (2014), i s fi nanci al matters, as i t could make the di fference between an enjoyable reti rement and no reti rement at all. One needs to esti mate the amount of money that would be requi red and avai lable at reti rement Regular and adequate i nflow of fi nanci al resources could greatly enhance the reti ree’s well-bei ng (Muratore & Earl, 2015). Another cardi nal element i s where to li ve, an abode does not only concern the type of accommodati on, but the locati on as well. A reti ree’s abode should be chosen i n a way that access to basi c faci li ti es such as water, li ght, healthcare, etc. mi ght not pose much di ffi culty (Hewi tt, Howi e, & Feldman, 2010). Other elements i nclude legal matters, future li festyle, health and estate management. For i nstance, the future li festyle of a reti ree i s very i mportant as i nacti vi ty of the i ndi vi dual could result i n placi di ty of the body ti ssues (Boi sclai r, Lusardi , & Mi chaud, 2017). The last element i n reti rement planni ng i s the process. Every effecti ve reti rement plan has to start wi th the i ndi vi dual‘s ai ms and objecti ves of li fe. Di fferences exi st among people. I t i s therefore expected that preferences would equally di ffer. Planni ng should be i nformed by the i ndi vi dual’s endowments and the envi ronment si nce no one li ves i n a vacuum. The second stage i n the process i s to forecast and/or analyze factors, whi ch could i nfluence the reali zati on of the objecti ves the i ndi vi dual set to achi eve i n li fe. I t i s 74 University of Ghana http://ugspace.ug.edu.gh worth noti ng that the process of reti rement planni ng cannot be a si mple li near event where a chai n of events follow automati cally (McLean, 2012). I t mi ght therefore be necessary to do revi si ons of objecti ves when one’s ci rcumstances are bei ng analyzed or deci si ons are operati onali zed. 2.13 Factors that Affect Adjustment Towards Reti rement Li terature on reti rement i s replete wi th di scussi ons on a number of factors that determi ne workers capaci ty to adjust towards reti rement. Thi s secti on of the revi ew presents some of these factors and how they i mpact on workers’ reti rement deci si ons. 2.13.1 I ncome The abi li ty of a reti ree to mai ntai n hi s pre-reti rement standard of li vi ng depends on hi s abi li ty to replace pre-reti rement i ncome wi th Soci al Securi ty, pri vate reti rement benefi ts and i nvestments (Kpessa, 2011). Whi le i ncome from some form of soci al benefi t i s usually the mai n source of reti rement i ncome, for most, especi ally hi gher i ncome i ndi vi duals, such benefi ts do not provi de suffi ci ent i ncome to mai ntai n the prereti rement standard of li vi ng (Fasang, 2012). Many people fai l to percei ve the need to save more, expecti ng benefi ts to ‘fi ll the gap’ (Fasang, Ai senbrey, & Schömann, 2013). Research that consi ders current i ncome wi th respect to the adequacy of reti rement savi ng has produced mi xed results. Engen, Gale and Uccello (2001) argue that some fi ndi ngs i ndi cate that households wi th hi gher current earni ngs are less li kely to be savi ng adequately for reti rement whi le others present evi dence that hi gh earni ng households save a greater share of thei r i ncomes. Regardless, a posi ti ve relati onshi p has been found to exi st between the value of savi ngs, employment status, 75 University of Ghana http://ugspace.ug.edu.gh and i ncome i n relati on to the level of savi ngs for reti rement (Post, Schneer, Rei tman, & Ogi lvi e, 2013). I ncome and tax affects the deci si on to save for reti rement. The relati ve appeal of the avai lable tax concessi on for reti rement savi ngs depends upon i ncome, bei ng more favorable for low-i ncome workers i n Australi a than those on hi gher salari es (van der Klaauw & Wolpi n, 2008). Low i ncome workers are more li kely to be li qui di ty constrai ned, encounter relati vely hi gher replacement rates from safety net systems, and therefore have less apparent need for addi ti onal reti rement i ncome (Benartzi , 2010). Households who had suffered peri ods of unemployment are found to have si gni fi cantly lower wealth accumulati on for reti rement (Colli ns, Lam, & Stampfli , 2015). Thi s i s parti cularly common i n developi ng countri es where i nflati on and unemployment have taken a toll on a large chunk of the worki ng class wi th the resultant meagre i ncomes leadi ng to i nabi li ty of most workers to properly adjust to reti rement (Hershey & Jacobs-Lawson, 2012). 2.13.2 Number of Dependents Havi ng fi nanci al dependents focuses fi nanci al attenti on on short-term acti vi ti es and needs rather than longer term goals. Thi s vi ew i s supported by research showi ng that havi ng dependent chi ldren i s si gni fi cant wi th regard to the setti ng of reti rement goals (Denaeghel, Mortelmans & Borghgraef, 2011). Si ngle women reduce the proporti on of ri sky assets they hold as the number of chi ldren i n thei r household i ncrease (Fi sher, Chaffee, & Sonnega, 2016). Households 76 University of Ghana http://ugspace.ug.edu.gh wi th chi ldren have the lowest success rate wi th regard to adjustment towards reti rement (Dybvi g & Li u, 2010). Fami li es wi th dependent chi ldren are found to be more li kely to have accumulated li ttle fi nanci al and total net worth (McLean, 2012). Commonly, thei r major asset i s the fami ly home, wi th many havi ng no other fi nanci al assets as stores that can be reli ed on after reti rement. 2.13.3 Educati on Less educated people are more li kely not to thi nk about reti rement (Lusardi  & Mi tchell, 2008); be less prepared for reti rement (Lawless, Buggy & Codd, 2015); and be less li kely to have basi c fi nanci al knowledge (Bender & Heywood, 2017). Even when i nvestments have been made, evi dence i ndi cates that the level of educati on i s a si gni fi cant factor i n the type of i nvestments made. People wi thout degrees are more li kely to i nvest the major proporti on of thei r reti rement savi ngs i n cash; better educated people are more li kely to use growth assets (Mazzonna & Peracchi , 2012). Places wi th hi gh i lli teracy rates are thus confronted wi th i mproper planni ng on the eve of reti rement, a si tuati on that tends to make reti rees worse off (Lusardi  & Mi tchell, 2017). 2.14 Challenges of Pre-reti rement Planni ng Several researchers, such as Rei tzes and Mutran (2004), Ri ckwood and Whi te (2009) and Boi sclai r, Lusardi  and Mi chaud (2017), have documented many di ffi culti es that exi st wi th maki ng plans for reti rement, leadi ng many workers to do li ttle of such planni ng. Although reti rement preparati on i s done to forestall future problems whi les i n reti rement, the planni ng process i s associ ated wi th daunti ng challenges. 77 University of Ghana http://ugspace.ug.edu.gh Duri ng the pre-reti rement planni ng phase, many workers adopt anti ci patory and proacti ve behavi ours, whi ch serve as proddi ng to boost one’s preparati on. An i ndi vi dual who expects i nadequate fi nances may be prodded to make preparati on to forestall these problems (Lai , Lai , & Lau, 2009). Anti ci pati on copi ng i nvolves preparati ons for potenti al future events that are certai n to happen, whi le proacti ve copi ng i nvolves preparati on for events that potenti ally may occur and act as a stressor to i ndi vi duals prepari ng for reti rement (Wai nwri ght & Ki bler, 2014). A person can become too pre-occupi ed and worri ed about a future event that s/he may become qui te anxi ous, thereby causi ng rather than reli evi ng stress (Adams & Rau, 2011). This is especi ally so i f the i ndi vi dual sets certai n goals to achi eve as part of the planni ng process and as s/he i s getti ng nearer to reti rement the stress level i ncreases although s/he has a plan i n mi nd. Thi s i s peculi ar to i ndi vi duals who, for example, i ntend to fi ni sh thei r bui ldi ngs before goi ng on reti rement because their proxi mi ty to reti rement i s about a year or two away but because of li mi ted fi nanci al resources have not been able to accompli sh that goal (Bucher-Koenen & Lusardi , 2011). Whi le thi s si tuati on may help eluci date the experi ences and thoughts of many workers concerned about thei r late li fe fi nanci al resources, i t does not apply to all si nce many do not consi der reti rement as a potenti al stressor. Many percei ve the event as an enti tlement, a reward for ti me spent i n the labour force (Blakeley & Ri bei ro, 2008). Another challenge that pre-reti rees have to contend wi th i s the i ssue of access to pre- reti rement educati on. Pre-reti rement educati on, especi ally fi nanci al educati on, i s ei ther not avai lable or when avai lable comes too late i n the li ves of some workers 78 University of Ghana http://ugspace.ug.edu.gh thereby not benefi ti ng those who are near to reti rement (Holcomb, 2010). The lack or late provi si on of these programmes leaves the worker i n the dark wi th li ttle or no i nformati on on how to plan comprehensi vely towards hi s post reti rement li fe. A factor that hurts all pre-reti rees, especi ally women, i s i nflati on. I nflati on decreases the purchasi ng power of the currency maki ng money worthless i n the future than what i t i s worth today (Klapper & Panos, 2011). Due to thi s economi c tendency, reti rement savi ngs and i nvestments tend to be worth even less i n the future (Thuku, 2013). Therefore, workers i n Ghana prepari ng for thei r reti rement have to contend wi th the reducti on i n thei r accumulated wealth and fi nances due to the drasti c ri se i n the i nflati on rate. Leyshon (2009) hi ghli ghts the fact that health status i s an i mportant factor that acts as a challenge to pre-reti rees’ savi ng behavi our. Poor health duri ng the pre-reti rement peri od drai ns the fi nanci al resources of the i ndi vi dual due to expendi ture on medi cal care. Koni ng and Harbor (2013) explai ned that those wi th poor health have hi gh expenses and may anti ci pate dyi ng soon; therefore, many choose to consume thei r resources qui ckly. Pre-reti rees i n poor health coupled wi th unfavorable expectati ons about thei r health si tuati on therefore si deli ne fi nanci al plans i ntended for the future and engage i n i mmedi ate consumpti on of thei r accumulated wealth (Gri ffi n, Loe, & Hesketh, 2012). Van Rooi j, Lusardi  and Alessi e (2011) emphasi zed that bei ng i n poor or fai r health would tend to decrease one’s market value because i t reduces one’s abi li ty to perform tasks or even learn new tasks provi di ng more job enhancement. No matter the 79 University of Ghana http://ugspace.ug.edu.gh challenges associ ated wi th the reti rement planni ng process, the advantages to be reaped i n post-reti rement are enormous. 2.15 Gender Di fference i n Reti rement Planni ng and Experi ence Study fi ndi ngs on gender di fference i n preparati on for reti rement are mi xed. Whi lst some scholars are of the vi ew that there i s no di fference i n preparati on across the genders, others posi t that di fferences exi st. Women have been consi stently found to be more li kely to suffer poverty and poorer well-bei ng i n old age and duri ng reti rement (Lee, 2003). Women were sti ll economi cally di sadvantaged compared to men and thi s i mpacts negati vely on thei r fi nanci al preparati ons (Noone et al., 2010). Gendered factors such as soci oeconomi c status (SES), work i nvolvement, and percepti ons of reti rement have been used to explai n these di fferences (Block, 1984; Henretta, 1994). Despi te these di fference, a revi ew of pensi on poli ci es showed that gender equali ty was not been gi ven pri ori ty i n reti rement schemes (Li n, 2012). Regardi ng planni ng for reti rement, a study found that women di splay much lower levels of fi nanci al li teracy than the older populati on as a whole; and women who are less fi nanci ally li terate are less li kely to plan for reti rement and be successful planners (Lusardi  & Mi tchell, 2008). 2.16 Conceptual Framework Based on the theori es and li terature a conceptual framework has been developed by the researcher to explai n reti rement preparati on of Ministers of Presbyterian Church of Ghana (Fi gure 3). I n thi s framework soci o-demographi c factors such as age, sex, educati onal attai nment, mari tal status and number of chi ldren are beli eved to affect the 80 University of Ghana http://ugspace.ug.edu.gh type of reti rement preparati on that wi ll be made. Reti rement preparati on may vary between male and female mi ni sters. Gi ven the fact the mi ni sters are expected to take care of thei r fami ly and chi ldren, the mari tal status of the person and the number of chi ldren wi ll affect the fi nanci al and soci al preparati on of mi ni sters. Furthermore, i nsti tuti onal factors such as the avai labi li ty of reti rement poli cy for the church wi ll affect the type of preparati on that mi ni sters wi ll make. Mi ni sters that recei ve trai ni ng and ori entati on on reti rement planni ng may be more li kely to make preparati on towards i t than those who have less knowledge on i t. The monthly allowance of the mi ni sters wi ll affect fi nanci al and psychologi cal preparati on that i ndi vi dual wi ll make. However, these i nsti tuti onal factors may be affected by the soci o-demographi c factors. For example, the educati onal quali fi cati on of the mi ni ster may determi ne the type reti rement package that i s avai lable for that person. Fi nally, the types of preparati on wi ll affect the experi ence of the person after reti rement. I ndi vi dually, those who plan towards reti rement may be more li kely to meet fi nanci al demands after reti rement. 81 University of Ghana http://ugspace.ug.edu.gh S ocio-demographic characteristics  Age  Sex  Educational attainment  Marital status  Number of children Type of preparation Post-retirement  Psychological experience  Financial  Financially  Social  Psychologically  Socially  Coping strategy Institutional factors  Availability of retirement policy  Monthly allowance  Orientation/training on retirement  Retirement package Source: Fischer (2006). Fi gure 4: Conceptual Framework for reti rement preparati on for Mi ni sters of Presbyteri an Church. This conceptual framework will guide the study to determine if retirement preparation confirms to the model. 82 University of Ghana http://ugspace.ug.edu.gh CHAPTER THREE METHODOLOGY 3.0 I ntroducti on The research methodology encompasses the research desi gn, phi losophi cal underpi nni ngs, researched i nsti tuti on, study populati on, sample si ze determi nati on, data collecti on tools and ethi cal i ssues. 3.1 Research Desi gn Quali tati ve research desi gn was used for the study. Quali tati ve study focuses on intepretivists i ncludi ng shapi ng a problem for thi s type of study, selecti ng a sample, collecti ng and analyzi ng data and wri ti ng up the fi ndi ngs (Bowli ng, 2014). I n thi s study, Ordai ned Mi ni sters of the Presbyteri an Church were i ntervi ewed to narrate thei r experi ence and preparati on they have made towards reti rement. 3.1.1 Grounded Theory The design was chosen as most apt because of i ts focus on how “human bei ngs create structures through engagi ng i n processes” (Charmaz, 2006, p. 7), and to exami ne “how the actors respond to changi ng condi ti ons and to the consequences of thei r acti ons” (Corbi n & Strauss, 1990, p. 5). Grounded theory i s a sui table approach because the way that ordai ned Mi ni sters encounter reti rement planni ng i s sti ll unclear and, as the prevai li ng research demonstrates, questi ons exami ni ng the planni ng experi ence have not been explored at thi s juncture. Addi ti onally, i t allows the development of knowledge through maxi mi zi ng what i s already known i n li ght of what i s bei ng learned from i ntervi ews 83 University of Ghana http://ugspace.ug.edu.gh through a constant comparati ve approach, encompassi ng conti nuous re-exami nati on of codi ng and themes (Strauss, 1987). Grounded theory, emphasi zes i nterpreti ng and organi zi ng the data to help explai n the phenomena (Maykut & Morehouse, 1994). Thi s entai ls bei ng consci ous of any new themes or questi ons that ari se as i ntervi ews are progressi ng, and effort i s placed on i ncludi ng a representati ve range of scenari os through theoreti cal sampli ng (whi ch i s di scussed i n further detai l throughout thi s chapter). I t i s not necessari ly a goal of grounded theory to form a uni que theory, but to provi de descri pti ve context to a subject matter. Some studi es may result i n the creati on of new theory, whereas others may stri ve to elaborate upon theoreti cal perspecti ves i ntroduced through previ ous research; but thi s focus on theoreti cal development i s what di fferenti ates grounded theory from other quali tati ve methodologi es (Strauss & Corbi n, 1994). Therefore, grounded theory was consi dered the most apt method because the subject of reti rement planni ng for ordai ned Mi ni sters i s a complex process, and theoreti cal development i s necessary for understandi ng how i t evolves i n the context of a Church mi ni stry, such as ordai ned Mi ni sters. Grounded theory, as a methodology, emerged from the di sci pli ne of soci ology, an area of enqui ry that i s focused on soci ety and the i ndi vi dual. Accordi ng to the basi c pri nci ples of grounded theory, once an area of research has been i denti fi ed, the researcher should enter the fi eld as soon as possi ble. Consequently, the li terature i s not exhausted pri or to the research, as i n many studi es, rather i t i s consulted as part of an i terati ve, i nducti ve and i nteracti onal process of data collecti on, si multaneous analysi s, and emergent i nterpretati on. I n other words, the developi ng theory should di rect the 84 University of Ghana http://ugspace.ug.edu.gh researcher to appropri ate extant theori es and li terature that have relevance to the emergi ng, data grounded concepts (Gouldi ng, 2005). I n addi ti on to the use of li terature, grounded theory di ffers i n a number of respects from other quali tati ve methodologi es, parti cularly wi th regard to sampli ng. Coyle (1997, as ci ted i n Gouldi ng, 2005), menti oned that most sampli ng i s purposi ve and defi ned before data collecti on commences. I n the case of grounded theory, sampli ng begi ns as a “commonsense” process of talki ng to those i nformants who are most li kely to provi de early i nformati on. Thi s i nformati on i s then analysed through the appli cati on of open codi ng techni ques, or li ne-by-li ne analysi s (looki ng for words and sentences i n the text that have meani ng), whi ch should help to i denti fy provi si onal explanatory concepts and di rect the researcher to further “theoreti cally” i denti fi ed samples, locati ons, and forms of data (Gouldi ng, 2005). Accordi ng to the ori gi nal rules of grounded theory, the researcher should not leave the fi eld and stop sampli ng unti l saturati on i s reached, or when no addi ti onal i nformati on i s found i n the data. As Gouldi ng (2005) noted, the grounded theory method, although uni quely sui ted to fi eldwork and quali tati ve data, can be easi ly used as a general method of analysi s wi th any form of data collecti on: survey, experi ment, case study. Further, i t can combi ne and i ntegrate them. I t transcends speci fi c data collecti on methods. Therefore, data may compri se of li fe hi stori es, secondary data, i ntrospecti on, and even numbers (Gouldi ng, 2005). Nevertheless, despi te the open and flexi ble nature of the data that may be used i n a grounded theory study, there exi sts a set of speci fi c pri nci ples for analysi ng and abstracti ng the i nformati on. These i nclude the “constant compari son” method, where, for example, i ntervi ew texts are analysed li ne-by-li ne, provi si onal themes noted, and 85 University of Ghana http://ugspace.ug.edu.gh subsequently compared wi th other transcri pts i n order to ensure consi stency and to i denti fy negati ve cases (Gouldi ng, 2005). The next stage i s to search for li nks through the i denti fi cati on of concepts that may go some way to explai ni ng the phenomenon under study. Thi s process i s normally associ ated wi th axi al codi ng that i s achi eved by speci fyi ng relati onshi ps and deli neati ng a core category or construct around whi ch the other concepts revolve. Axi al codi ng i s the appreci ati on of concepts i n terms of thei r dynami c i nterrelati onshi ps and they should form the basi s for theory constructi on (Spi ggle, 1994, as ci ted i n Gouldi ng, 2005). The fi nal stage of the theory development process i s the constructi on of a core category (Glaser & Strauss, 1967, as ci ted i n Gouldi ng, 2005). A core category pulls together all the concepts i n order to explai n the phenomenon. I t should have theoreti cal si gni fi cance and should be traceable back through the data. Thi s i s usually when the theory i s wri tten up and i ntegrated wi th exi sti ng theori es to show relevance, fi t, and/or extensi on (Gouldi ng, 2005). Whi le the reti rement preparati on of ordai ned mi ni sters of Presbyteri an Church of Ghana has si gni fi cant behavi oural i mpli cati ons, the appli cati on of grounded theory would seem appropri ate. The ri gours of the approach forced the researcher to look beyond the superfi ci al, to apply every possi ble i nterpretati on before developi ng fi nal concepts, and to demonstrate these concepts through expli cati on and data supported evi dence of ordai ned mi ni sters’ preparati on for reti rement. The mai n problems associ ated wi th the grounded theory appear to stem largely from i ts mi suse and abuse where studi es labelled grounded theory fai led to follow the pri nci ples of theoreti cal sampli ng, i nducti ve codi ng, and constant compari son (Gouldi ng, 2005). Thus, thi s 86 University of Ghana http://ugspace.ug.edu.gh study addresses these i ssues i n order not to fall i nto the same trap as some earli er studi es. 3.2 Phi losophi cal Underpi nni ngs An i mportant consi derati on i n any research process i s the phi losophi cal underpi nni ngs of the study as thi s provi des the foundati on upon whi ch the study i s conducted. The two very i mportant phi losophi cal i ssues to consi der i n desi gni ng a study are ontology and epi stemology (Teddli e & Tashakkori , 2010). Ontology refers to the form and nature of the reali ty that the researcher i nvesti gates and how thi s reali ty can be measured. Epi stemology, on the other hand, exami nes the relati onshi p between the researcher and what i s bei ng researched (Creswell, 2009). These phi losophi cal paradi gms therefore can i nfluence the desi gn of the study and the methodology that i s often employed to acqui re the knowledge that the research sets to i nvesti gate. The concept of epi stemology looks at how the knowledge i s acqui red by exami ni ng the relati onshi p between the researcher and the researched. I n adopti ng the posi ti vi st approach to research whi ch i s the quanti tati ve, the researcher embarks on the study of the reali ty by mai ntai ni ng a di stance between hi m/herself and the researched. Contrari ly to thi s approach, researchers who hold the vi ew of i nterpreti vi sts/constructi vi st (quali tati ve) adopt strategi es that wi ll lessen the di stance between hi m/herself and what i s bei ng studi ed (Creswell, 2009). Gui ded by these phi losophi cal stands, my ontologi cal vi ew regardi ng reti rement planni ng i s that the reali ty i n i t could vary between i ndi vi duals as experi ences may vary and be shaped by the soci ety one li ves i n. However, i t i s possi ble to measure thi s reali ty by getti ng close to and i nteracti ng wi th people who have experi ence i t. 87 University of Ghana http://ugspace.ug.edu.gh Posi ti vi sm and i nterpreti vi sm are two of the major known research phi losophi es i n soci al research such as thi s. Whereas posi ti vi sts beli eve that reali ty can be studi ed i n an objecti ve unbi ased manner, i nterpreti vi sts beli eve that only through the subjecti ve i nterpretati on of a reali ty can that reali ty be fully understood and studi ed. Thi s study makes use of the i ntepreti vi sts phi losophy i n soci al research although aspects of posi ti vi sm are largely appli ed i n thi s research because the analysi s i s the effi cacy of admi ni strati on of questi onnai res based on the respondents opi ni ons, and not based on the whi ms and capri ces of the researcher. A research paradi gm i s a cluster of beli efs, values and techni ques, whi ch i s shared by members of a sci enti fi c communi ty, and acts as a gui de or footpri nt, di ctati ng the ki nds of problems researchers should address and the types of explanati ons that are acceptable to them (Boateng, 2014). Some of the commonly used paradi gms i n soci al research, accordi ng to Boateng (2014), are posi ti vi sm, i nterpreti vi sm, reali sm, relati vi sm and cri ti cal reali sm; and each of them has a set of epi stemologi cal, ontologi cal and methodologi cal assumpti ons that act as a structure to explai n and di fferenti ate one paradi gm from the other. Jonker and Penni nk (2010) defi ned a research paradi gm as a set of fundamental assumpti ons and beli efs on how the world i s percei ved, whi ch then serves as a thi nki ng framework that gui des the behavi our of the researcher. Wahyuni  (2012) argued that research paradi gms are used to address the phi losophi cal di mensi ons of soci al sci ences. Thi s gui des the researcher i n choosi ng the methods for whi ch the objecti ves of the study can be achi eved. 88 University of Ghana http://ugspace.ug.edu.gh Thi s study uses the i nterpreti vi sts paradi gm to peruse reti rement preparati on of Ordai ned Mi ni sters of the Presbyteri an Church of Ghana. Wahyuni  (2012) posi ted that i nterpreti vi sts researchers choose a study that uncovers i nsi de perspecti ves or real meani ngs of soci al phenomena from i ts study parti ci pants as a good soci al knowledge. I n terms of axi ology, i nterpreti vi st researchers take the stance of the i nsi der’s perspecti ve, whi ch means to study the soci al reali ty from the perspecti ve of the people themselves. Duri ng the study, the experi ences and values of both research parti ci pants and the researcher substanti ally i nfluence the collecti on of data and i ts analysi s thereon. Thi s paradi gm i s relevant as i t wi ll ai d i n i nvesti gati ng the i ssues relati ng to the subject matter of thi s study. Addi ti onally, i nterpreti vi st ontologi cally beli eve that multi ple reali ti es exi st, subject to human experi ences and i nterpretati on and further espouses that reali ty i s a soci al construct. I ts correspondent epi stemology, accordi ng to Boateng (2014), i s that knowledge generated i s subjecti ve, ti me bound, and context-dependent, whi lst i ts methodology i s founded on the assumpti on that knowledge i s created through a researcher’s i denti fi cati on of the vari ous i nterpretati ons and constructi ons of reali ty that exi sts, and attempts to establi sh patterns. Last but not least, an i nterpreti vi sts approach to soci al research was chosen by the researcher because i nterpreti vi sm i s wi dely used for quali tati ve research, usi ng methods such as unstructured i ntervi ews or parti ci pant observati on. I nterpreti vi sts, or anti -posi ti vi sts, further opi ne that i ndi vi duals are not just puppets who react to external soci al forces as Posi ti vi sts beli eve; rather, i ndi vi duals are 89 University of Ghana http://ugspace.ug.edu.gh i ntri cate and complex and di fferent people experi ence and understand the same ‘objecti ve reali ty’ i n very di fferent ways and have thei r own, often very di fferent, reasons for acti ng i n the world, thereby maki ng sci enti fi c methods not appropri ate or sui table. The i nterpreti vi sts often cri ti ci ze ‘sci enti fi c soci ology’ (Posi ti vi sm) because many of the stati sti cs i t reli es on are themselves soci ally constructed. For the purpose of thi s study, the i nterpreti vi sts’ worldvi ew has been employed to understand ordai ned mi ni sters’ perspecti ves on reti rement preparati on. I nterpreti vi sm The posi ti on of i nterpreti vi sm i s that reali ty i s multi ple and relati ve, whi ch depends on other systems for meani ngs: this makes i t even more di ffi cult to i nterpret i n terms of fi xed reali ti es. Under thi s worldvi ew, the knowledge acqui red i s soci ally constructed rather than objecti vely determi ned and percei ved. I nterpreti vi sts avoi d ri gi d structural frameworks such as that used i n posi ti vi st research and adopts a more personal and flexi ble research structures, whi ch are recepti ve to capturi ng meani ngs i n human i nteracti on and make sense of what i s percei ved as reali ty. They beli eve the researcher and hi s i nformants are i nterdependent and mutually i nteracti ve. The i nterpreti vi st researcher enters the fi eld wi th some sort of pri or i nsi ght of the research context but assumes that thi s i s i nsuffi ci ent i n developi ng a fi xed research desi gn due to the complex, multi ple and unpredi ctable nature of what i s percei ved as reali ty (Creswell, 1998, 2009). 90 University of Ghana http://ugspace.ug.edu.gh I n addi ti on, the researcher remai ns open to new knowledge throughout the study and lets i t develop wi th the help of i nformants. The use of such an emergent and collaborati ve approach i s consi stent wi th the i nterpreti vi st beli ef that humans have the abi li ty to adapt, and that no one can gai n pri or knowledge of ti me and context bound soci al reali ti es. Therefore, the goal of i nterpreti vi st research i s to understand and i nterpret the meani ngs i n human behavi our rather than to generali ze and predi ct causes and effects. For an i nterpreti vi st researcher i t i s i mportant to understand moti ves, meani ngs, reasons and other subjecti ve experi ences, whi ch are ti me and context, bound (Creswell, 1998, 2009). 3.3 Study Area 3.3.1 Presbyterian Church of Ghana (PCG) The Basel Mi ssi on, a protestant mi ssi onary soci ety, was founded i n 1815 and were fi rst sent to the Gold Coast i n the 1820s; however due to i llness, the Mi ssi onary Soci ety’s presence was not truly felt unti l the 1840s. The Basel Mi ssi on’s expulsi on from Afri ca duri ng World War One and World War Two enabled the Uni ted Free Church of Scotland to arri ve and conti nue mi ssi onary work. A Synod of 1918 was organi zed i nvolvi ng the Scotti sh mi ssi onari es, Afri can mi ni sters and presbyters. The Church slowly worked towards autonomy and by 1926, the Presbyteri an Church of the Gold Coast was offi ci ally recogni zed and became fully i ndependent from the Mi ssi onary Soci eti es by 1950 (Kamsler, 2012). 91 University of Ghana http://ugspace.ug.edu.gh Fi gure 5: Map of Ghana 92 University of Ghana http://ugspace.ug.edu.gh The Presbyteri an Church of Ghana now has 21 Presbyteri es across Ghana, Europe and the United States of America (Table 1). Mi ni sters i n the Presbyteri an Church ei ther operate as full ti me mi ni sters or may be engaged i n other forms of admi ni strati ve duti es i n educati onal and health faci li ti es establi shed by the church. There are currently about 280 ordai ned mi ni sters i n the Church (Human Resource Di vi si on, 2017 Hand Book) and some of them are acti ve mi ni sters who are wi thi n the ages of 60-70 years. Out of thi s number, 28 acti ve ordai ned mi ni sters were selected as the sample si ze for the study due to saturation. 93 University of Ghana http://ugspace.ug.edu.gh Table 1: Di stri buti on of Mi ni sters of the Presbyterian church of Ghana Presbytery Full Time Tent Total Female Male Female Male Akuapem 7 34 7 27 75 Asante 4 78 3 21 106 Asante Akyem 0 10 3 10 23 Asante Abuakwa 2 24 2 25 53 West akyem 0 22 0 2 24 Ga 23 75 20 93 230 Brong Ahafo 1 35 3 13 52 Western 2 24 1 14 41 Volta 2 17 0 6 25 Kwahu 0 15 4 20 39 Central 2 18 1 8 29 Dangme/Tongu 3 36 2 13 54 Northern 0 15 1 2 18 Sekyere 0 17 0 11 28 West Brong 1 15 4 8 28 Upper 1 16 0 3 20 Sefwi  0 17 0 1 18 Asante south 0 0 0 0 13 Total 49 491 51 277 905 Source: Presbyteri an Church Human Resource Department, 2017 94 University of Ghana http://ugspace.ug.edu.gh 3.4 Study Populati on The target populati on i s defi ned as the group of i ndi vi duals or parti ci pants wi th the speci fi c attri butes of i nterest and relevance (Baškarada, 2014; Hyett, Kenny, & Di ckson-Swi ft, 2014). I n thi s research the target populati on i s all Mi ni sters of the Presbyteri an Church of Ghana. The accessi ble populati on, on the other hand, i s reached after taki ng out all i ndi vi duals of the target populati on who wi ll or may not parti ci pate, or who could not be accessed during the study peri od (West, 2016; Asi amah, Mensah, & Oteng-Abayi e, 2017). The accessi ble populati on formed the sampli ng frame from whi ch potenti al parti ci pants are selected. Si nce some Mi ni sters of the Presbyteri an were i naccessi ble or were outsi de the juri sdi cti on of Ghana, these i ndi vi duals were excluded to arri ve at the accessi ble populati on from whi ch the sampli ng was done for the study. The accessi ble populati on at the ti me of the study was 280 Mi ni sters i n acti ve servi ce. 3.5 Sample Si ze Determi nati on There are vari ati ons i n strategi es used to determi ne the sample si ze for a quali tati ve study and many have used the concept of theoreti cal saturati on as an end poi nt for quali tati ve studi es (Creswell, 1998; Green & Thorogood, 2004). However, although the i dea of saturati on i s helpful at the conceptual level, i t provi des li ttle practi cal gui dance for esti mati ng sample si zes for robust research pri or to data collecti on (Guest, Bunce & Johnson, 2006). For small or student projects, i t i s generally argued that a sample si ze of above 20 i s enough to ensure ri gour i n data collecti on (Charmaz, 2008). I n thi s study, a sample si ze of 10% of the populati on was taken as suggested by Mason (2010) on thei r revi ew of how sample si ze was determi ned i n quali tati ve 95 University of Ghana http://ugspace.ug.edu.gh studi es. Hence, 28 Mi ni sters i n acti ve servi ce were recrui ted for the study, and of those selected, eight were Tent Ministers. However, for reti red mi ni sters, ei ght i ndi vi duals were selected out of 80 reti red mi ni sters who have reti red at the ti me of the study. They had reti red wi thi n the peri od of five years and below. They were selected for the study to ascertai n thei r condi ti ons after reti rement. To provi de a holi sti c vi ew on the i ssues about reti rement, five management members were recrui ted to provi de management vi ews about the subject under i nvesti gati on. 3.6 I nclusi on and Exclusi on Criteri a The study i ncluded only ordai ned Mi ni sters of Presbyteri an Church who have less than 10 years to go before reti rement. For reti red Mi ni sters to quali fy to parti ci pate i n the study, they had to have been reti red for at least five years. Thi s i s because the study was i nterested i n explori ng thei r experi ence after reti rement. Hence, five years post- reti rement was deemed appropri ate to have acqui red some level of experi ence. Mi ni sters who meet these cri teri a and were unwi lli ng to parti ci pate i n the study were excluded. Those quali fi ed but were outsi de the countri es were similarly excluded from the study. 3.7 Selecti on of Study Parti ci pants The purposi ve sampli ng techni que was used to select the parti ci pants for thi s study. Usi ng the purposi ve sampli ng techni que, the researcher choose the sample based on who they thi nk are appropri ate for the study as suggested by Green and Thorogood (2004). Patton (2002) recogni sed that the purposi ve sampli ng techni que i s wi dely used i n quali tati ve research and i s appropri ate to i denti fy and select i nformati on-ri ch cases for the most effecti ve use of li mi ted resources. Whi lst employi ng purposi ve sampli ng 96 University of Ghana http://ugspace.ug.edu.gh i n thi s study, steps were taken to ensure the parti ci pants selected work at di fferent presbyteri es wi th fai r di stri buti on i n terms of gender representati on. 3.8 Data Collecti on Strategy An i n-depth i ntervi ew was the mai n data collecti on strategy employed i n thi s study. I n-depth i ntervi ews (I DI s) from a li fe hi story perspecti ve can gi ve ri ch i nformati on on personal experi ence and i deology, as well as on soci al structures and i nsti tuti ons (Plummer, 1983). Wi th thi s approach, respondents have the opportuni ty to si tuate thei r own li fe experi ence wi thi n the larger soci al context. Whi le some researchers hold the vi ew that personal reflecti ons may not be fully accurate, others assert that the strength of telli ng one’s own story rests preci sely i n thi s i nteracti on between the present respondent and hi s or her past self (Mi escher, 2005). Accordi ng to Wei ss (1994), researchers can anti ci pate I DI s lasti ng between 90-120 mi nutes i f there are no ti me constrai nts on both the respondent and i ntervi ewer. Whi le some i ntervi ews can go si gni fi cantly longer wi th breaks at least every two hours, i ntervi ews under 30 mi nutes are generally beli eved to be unli kely to yi eld a coherent pi cture of respondents’ experi ences (Wei ss, 1994). I n thi s li ght, i t took between 45- 60 mi nutes to complete an I DI  and all the i ntervi ews were conducted i n a formal manner as much as possi ble. 3.9 Data Collecti on Tool Semi-structured i n-depth i ntervi ew gui des (Appendi x 1 & 2) were used to collect the quali tati ve data i n thi s study. The semi-structured i ntervi ew was dri ven concurrently by both the respondent and the i ntervi ewer. The interview gui de were desi gned i n 97 University of Ghana http://ugspace.ug.edu.gh Engli sh. The interview gui de covered areas such as planni ng for reti rement at the personal level, the church as an i nsti tuti on, and organi zi ng pre-reti rement semi nars for prospecti ve reti rees. The interview gui de further looked at the type of planni ng that has been done and factors that faci li tate or i nhi bi t planni ng. For the gui de for people on reti rement, i t i ncluded areas such as experi ence of reti rees coveri ng areas such as fi nanci al, health and thei r experi ence wi th the church’s post-reti rement arrangements. 3.10 Quali tati ve I n-Depth I ntervi ews Reti rement planni ng can vary greatly based on an i ndi vi dual’s background and experi ences. Therefore, the data collecti on approach must be open to i ndi vi dual recollecti on and should faci li tate getti ng as much detai l as possi ble. Si nce the mai n research questi on i n thi s study has never been addressed di rectly i n previ ous research, thi s project i s exploratory. I n-depth i ntervi ews can assi st i n explori ng what i t i s li ke to di scuss reti rement wi th Pastors, how ordai ned Mi ni sters plan for reti rement, and how planni ng experi ences may shape future planni ng expectati ons. Conducti ng i n-depth i ntervi ews i s an i deal approach because i t emphasi zes bei ng responsi ve to each parti ci pant’s story (Charmaz, 2006, p. 25) and uti li zes open-ended questi ons to help understand the topi c of focus. Quali tati ve i ntervi ews may be unstructured (no scri pt or li st of determi ned questi ons), use an i ntervi ew gui de (a li st of topi cs or general questi ons, but i s open to i nqui ry on other detai ls), or use an i ntervi ew schedule (a focus on aski ng a detai led li st of questi ons wi thout open i nqui ry) (Maykut & Morehouse, 1994, p. 81-83). 98 University of Ghana http://ugspace.ug.edu.gh 3.11 Admi ni strati on of I nstruments Before the i ntervi ew the researcher sought permi ssi on from the respondents for the i ntervi ew and an arrangement was made for dates, ti me and venues for the i ntervi ews. The respondents were assured of confi denti ali ty and permi ssi on was sought to record the i nteracti on. They were encouraged to be open and frank i n the data they provi ded duri ng the i ntervi ew. The i ntervi ews were conducted to collect the data by the researcher. A face-to-face i ntervi ew strategy was employed i n thi s study. I n some cases, where respondents were not really avai lable after several vi si ts, the i ntervi ews were conducted on the phone duri ng thei r free ti mes. Rapport was establi shed by engagi ng respondents i n a chat on general i ssues before the admi ni strati on of the i nstruments. Through the process of establishing rapport, the researcher i ntroduced the ai ms of the research to respondents. Questi ons were then posed and respondents were gi ven the leeway to speak to the i ssues uni nterrupted. I nducti ve probi ng was done to clari fy any poi nt rai sed. At the end of every i ntervi ew parti ci pants were encouraged, prayed for and acknowledged for thei r contri buti on to the study. All the i ntervi ewees were very fri endly and were happy wi th the study. The fi eld-notes covered the envi ronment i n whi ch the i ntervi ews were conducted. The respondents voluntarily gave out i nformati on that was necessary for the study. 3.12 Fi eld Notes Accordi ng to Bernard (2006), there are three types of fi eld-notes that a researcher can document duri ng fi eld work. These i nclude methodologi cal, descri pti ve and analyti c fi eld-notes. Methodologi cal notes deal wi th techni que i n collecti ng data and are useful 99 University of Ghana http://ugspace.ug.edu.gh to gui de future researchers when desi gni ng thei r research methodology. Descri pti ve fi eld-notes, on the other hand, i nvolve taki ng notes on the researcher i nteracti on wi th the respondents duri ng data collecti on, such as the demeanor of the respondent. However, analyti c fi eld-notes are where you lay out your i deas about how you thi nk the culture you are studyi ng i s organi zed. I n thi s study descri pti ve fi eld-notes were documented through observati on and li steni ng duri ng data collecti on. The researcher deli berately di d not fi lm the i ntervi ew sessi ons because they were assured of confi denti ally and accordingly the researcher did not wanr to break that trust. Fi eld- notes on the i ntervi ewer-i ntervi ewee i nteracti on (descri pti ve fi eld-notes) were wri tten after each i n-depth i ntervi ew to ci rcumvent recall challenges, whi ch may result from delay i n wri ti ng down the fi eld-notes. These fi eld-notes provi ded a di sti ncti ve resource for preservi ng experi ence close to the moment of i ts occurrence. These fi eld- notes helped to deepen reflecti on and understandi ng of those experi ences i n the fi eld (Emerson, Fretz & Shaw, 1995). The fi eld-notes were taken on i ni ti al reacti ons of the i ntervi ewee to the i ntervi ew. Notes were documented on the fi rst analyti cal reflecti ons from the i ntervi ew content, and any useful occurrence and i nterpretati ons that could not be captured by di gi tal recordi ng. For i nstance, the researcher took notes of the di sposi ti on of the respondent, hi s or her body language and mood, and any i nformal conversati on that took place before, duri ng and after the i ntervi ew. Thi s i nformati on was valuable duri ng the analysi s process, as i t connected the researcher to the memori es of each i ndi vi dual respondent and these were transformed i nto data, anonymi sed and analysed wi th other data that were collected i n thi s study. 100 University of Ghana http://ugspace.ug.edu.gh 3.13 Data Analysi s The i ntervi ews were transcri bed verbati m and i mported i nto NVi vo 11 for analysi s. A codebook was fi rst developed and transformed i nto node i n NVi vo. The soci o- demographi c data of the respondent were captured i n NVi vo as attri butes and li nked to data sources. Li ne-by-li ne codi ng of each transcri pt was done unti l all the transcri pti ons were coded. Duri ng codi ng, memos were wri tten on key reflecti ons from the data. The constructi ve grounded theory method was used for the analysi s of the data collected from the i ntervi ew transcri pts, fi eld notes and other materi als. Grounded theory "i s the experi ence from the standpoi nt of those who li ve i t" (Charmaz, 2008). Thematic analysis is a method for identifying, analysing, and reporting patterns (themes) within a data. It minimally organises and describes your data set in (rich) detail (Braun & Clarke, 2006). Braun and Clarke (2006) prescribed six steps to carry out a thematic analysis. These steps are as follows: • Familiarizing yourself with your data: I was fully immersed and actively involved in the data by firstly transcribing the interview and then reading (and re-reading) the transcripts and/or listening to the recordings. In carrying out this step the initial ideas were noted down to help in the next step. • Generating initial codes: I started identifying preliminary codes, which were the features of the data that appeared interesting and meaningful. • Searching for themes: I started the interpretive analysis of the collated codes. Relevant data extracts were sorted (combined or splited) according to overarching themes. The researcher’s thought process should allude to the relationship between codes, sub-themes, and themes. 101 University of Ghana http://ugspace.ug.edu.gh • Reviewing themes: I deeply reviewed the identified themes. I questioned whether to combine, refine, separate, or discard initial themes. • Defining and naming themes: This step involves ‘refining and defining’ the themes and potential sub-themes within the data. • Producing the report: Finally, to transform the analysis into an interpretable piece of writing by using vivid and compelling extract examples that relate to the themes, research questions, and literature. Table 2: Themes Themes Categories 1. Psychological preparation  Discuss with spouse and children  Continue counselling  Self-conscientization  Gardening  Learning from experience of retirees 2. Social preparation  Building houses for family  Educating children  Rapport with home town to be relevant when retire  Net working with classmates and neighbours  Good relation with extended family 3. Financial preparation  Investment: eg. Treasury bills, shares, bonds  Building houses for rental  Farming to support income  Doing counselling for money  Writing books for sell  Preaching for gifts and money  Allowance received during active service  Educational policy for children 102 University of Ghana http://ugspace.ug.edu.gh Table 3: Emerging themes 1. Institutional support  Packages  Send-off gifts  Policy on retirement  Training programmes  Transfer to urban or rural areas 2. Cultural context  Culture context do in habit or re- enforces retirement planning and preparation.  Extended family support and influence  Community or society in which individual lives and works may influence retirement, planning and preparation. 3. Skills acquisition  Gardening  Bee keeping  Batik & tide and dye making  Rentals of facilities  Mushroom farming  Honey making  Rabbit keeping  Part time teaching / lecturing  Vegetable farming 3.14 Ensuring Rigour The researcher ensured rigour by seeking permission from the College of Humanitarian Ethics Committee leading to validation of the research questions to conduct the study. The researcher ensured trustworthi ness of results Coi ned by Li ncoln and Guba (1985), thi s term i s used to represent several constructs i ncludi ng: (a) credi bi li ty, (b) transferabi li ty, (c) dependabi li ty, and (d) confi rmabi li ty. A descri pti on of each of these concepts i s i ncluded i n the followi ng paragraphs. 103 University of Ghana http://ugspace.ug.edu.gh Credi bi li ty: The truth-value, or credi bi li ty, of conclusi ons i n a quali tati ve study i s comparable to the concept of i nternal vali di ty i n quanti tati ve research. Li ncoln and Guba (1985) and Mi les and Huberman (1994) suggested that research results be scruti ni zed accordi ng to three basi c questi ons: (a) Do the conclusi ons make sense? (b) Do the conclusi ons adequately descri be research parti ci pants’ perspecti ves? and (c) Do conclusi ons authenti cally represent the phenomena under study? I  depended on tri angulati on and member checks to enhance credi bi li ty. Accordi ng to Li ncoln and Guba (1985), tri angulati on i s the corroborati on of results wi th alternati ve sources of data. Consultati on wi th an expert i n the fi eld was uti li zed as an alternate data source. Addi ti onally, presenti ng results to parti ci pants duri ng a concludi ng i ntervi ew served as a method to enhance the credi bi li ty of thi s study’s results. The results of the i ntervi ews were presented to parti ci pants to confi rm the results. Credi bi li ty was largely ensured by the researcher by maki ng sure that the fi ndi ngs of the study were not mani pulated accordi ng to the researcher’s prejudi ce. Transferabi li ty: Si mi lar to the concept of external vali di ty i n quanti tati ve studi es, transferabi li ty seeks to determi ne i f the results relate to other contexts and can be transferred to other contexts (Li ncoln & Guba, 1985; Mi les & Huberman, 1994) . I n thi s study, the reseacher  sought to enhance transferabi li ty by provi di ng a thi ck, ri ch descri pti on of the contexts, perspecti ves, and fi ndi ngs that surrounded parti ci pants’ experi ences. By provi di ng adequate detai l to draw a well-defi ned context, the reseacher allowed readers the opportuni ty to deci de for themselves whether or not the results are transferable to other ci rcumstances. By mai ntai ni ng detai led fi eld notes of all acti vi ti es, contacts, and procedures, as well as keepi ng a current reflexi ve journal of my research experi ences, the reseacher  was be able to provi de enough descri pti on 104 University of Ghana http://ugspace.ug.edu.gh to enhance transferabi li ty of fi ndi ngs for themselves whether or not the results are transferable to other ci rcumstances. Dependabi li ty: Si mi lar to the concept of reli abi li ty i n quanti tati ve research, dependabi li ty refers to whether or not the results of the study are consi stent over ti me and across researchers (Li ncoln & Guba, 1985; Mi les & Huberman, 1994). To address dependabi li ty i n my study, the reseacher   reli ed on consultati on wi th a peer debri efer. The peer debri efer was asked to comment on all aspects of the study, parti cularly data collecti on, analysi s, and results to determi ne i f the conclusi ons were si mi lar to mi ne. Thi s ensured the dependabi li ty of the results. Confi rmabi li ty: Assumes that the fi ndi ngs are reflecti ve of the parti ci pants’ perspecti ves as evi denced i n the data, rather than bei ng a reflecti on of my own percepti ons or bi as. The researcher enhanced confi rmabi li ty by stati ng expli ci tly the assumpti ons about the topi c of i nterest i n relati onshi p to the researcher’s uni que contri buti ons or as they were otherwi se brought to the researcher’s awareness. 3.15 Quali ty Control Measures Adopted The study i nstrument was tested i n a pi lot study. Ten mi ni sters of the Presbyteri an Church were sampled for thi s pi lot study. The tools were revi sed based on the pi lot study. Parti ci pants i n the pi lot study were excluded from the mai n study. The transcri pti on was undertaken by the i ntervi ewer and an i ndependent person for compari son and quali ty control. Where there were vari ati ons, these were di scussed and agreed upon by the transcri bers and researcher by li steni ng to voi ces and compari ng i t wi th the transcri bed data because of fore knowledge of the local languages. Member 105 University of Ghana http://ugspace.ug.edu.gh checki ng through shari ng the transcri pti ons from i ntervi ews wi th i ndi vi dual parti ci pants (Thomas, 2017) was done as a quali ty control measure. As requi red i n quali tati ve studi es, bracketi ng was used as a strategy to separate my personal bi ases from the quali tati ve research fi ndi ngs (Gi orgi , 2010). Fi eld notes were wri tten i mmedi ately after each i ntervi ew. 3.16 Ethi cal I ssues Accordi ng to Mouton (2016:16), ethi cal choi ces i nvolve a compromi se between the i nterests and ri ghts of di fferent parti es. He further argues that sci enti sts have the ri ght to the search for truth, but not at the expense of the ri ght of other i ndi vi duals i n soci ety: Sci enti fi c research i nvari ably i nvolves studyi ng other bei ngs i n some form or another. Sci ence cannot proceed wi thout the parti ci pati on of human and ani mal subjects. But all subjects have basi c ri ghts. Where research i nvolves the acqui si ti on of materi al and i nformati on provi ded on the basi s of mutual trust, i t i s essenti al that the ri ghts, i nterests and sensi ti vi ti es of those studi es must be protected. I n thi s regard, I respected the respondents’ ri ght to anonymi ty and pri vacy by ensuri ng that thei r i nformed consent was gai ned. The researcher i nformed each respondent about the background and purpose of the study and expli ci tly promi sed confi denti ali ty of i nformati on. The followi ng ethi cal i ssues were used to serve as gui di ng pri nci ples. 106 University of Ghana http://ugspace.ug.edu.gh I nformed Consent I explai ned the objecti ves of the study to parti ci pants i n language that they understood. They were i nformed of thei r ri ght of wi thdrawal from the study at any poi nt. All questi ons were addressed sati sfactori ly after whi ch parti ci pants were made to si gn an i nformed consent form before the i ntervi ews were commenced. Pri vacy and Confi denti ali ty I nformati on collected from respondents was treated as confi denti al and the i denti ti es of the respondents were not di sclosed i n wri ti ng. The data were reported i n the aggregate. To ensure confi denti ali ty of parti ci pants who gave wri tten consent, codes were used on the form i nstead of thei r names. To further ensure confi denti ali ty and pri vacy only codes (pseudonyms) were wri tten on i ntervi ew transcri pts and used to i denti fy respondents. All these were done by me to enhance confi denti ali ty. Ri sk and Benefi ts The objecti ves, potenti al ri sks and benefi ts of the study were explai ned to parti ci pants i n the language they understood. All questi ons asked were addressed appropri ately after whi ch they were made to si gn the consent form as an i ndi cati on of thei r acceptance to take part i n the study. The study had no di rect benefi ts to parti ci pants but the fi ndi ngs may be i mportant i n i mprovi ng reti rement preparati on and poli cy, whi ch may have i ndi rect benefi ts to respondents. Data Safety and Storage The transcri pts and voi ce recordi ngs were kept at di fferent locati ons to prevent other persons from recogni zi ng the voi ces of the people who were i ntervi ewed. The voi ce 107 University of Ghana http://ugspace.ug.edu.gh recordi ngs were kept and destroyed after the award of the degree that i s two years after the data collecti on. However, the transcri pts would be kept for 10 years i n li ne wi th the Uni versi ty of Ghana poli cy for PhD research. All transcri pts have been anonymi sed. 3.17 Limitations It would have been good to conduct a study like this on a large scale, but for time, human resources and financial constraints, the study had been limited to Ordained Ministers of the Presbyterian Church of Ghana. This study should have been extended to cover all ministers and other workers in the Church. This would have permitted the findings to be generalized over the entire Presbyterian Church of Ghana. However, the research is limited to only ordained ministers who were in active service between the ages of 60 to 70 years, ordained ministers who had retired after 70 years within the last five years and some top management members. In view of the above limitations, the findings of this research cannot be generalized over all workers in the Presbyterian Church of Ghana. 3.18 Delimitation The researcher used a case study instead of a survey as the research design. The study used a fraction of ordained Presbyterian Ministers. This comprised 28 active Ministers, eight retired Ministers and five management members. I used the qualitative method. Therefore the research used a structured interview guide for the in-depth personal interviews. This permitted the researcher to get the relevant data to explain the findings of the research. 108 University of Ghana http://ugspace.ug.edu.gh CHAPTER FOUR RESULTS OF THE STUDY 4.1 Background Characteri sti cs of Respondents The age range for Mi ni sters i n acti ve servi ce was from 60-69 years and 26 out of the 28 were marri ed wi th chi ldren, the number of which ranged between 2-7 chi ldren (see Table 2). Out of the 28 respondents, four were females and 24 were males. 109 University of Ghana http://ugspace.ug.edu.gh Table 4: Soci o-demographi c Characteri sti cs of Mi ni sters of the Presbyterian Church of Ghana i n Acti ve Servi ce I D of Age Sex Mari tal Number Educati onal Work Respondent Status of attai nment Experi ence as Chi ldren Mi ni ster(years) A001 60 F M 5 HND 10 A002 60 M M 4 Masters 5 A003 60 F M 5 Masters 15 A004 68 M M 2 Di ploma 30 A005 69 M M 4 PhD 12 A006 61 M M 2 Di ploma 9 A007 61 M M 4 HND 23 A008 64 M M 3 Masters 13 A009 60 M M 3 BA 12 A010 62 M M 3 Masters 27 A011 62 M M 4 PhD 20 A012 67 M M 5 BA 30 A013 61 F S 4 Certi fi cate A 6 A014 61 M M 6 Di ploma 11 A015 69 M M 4 Masters 25 A016 63 M M 6 BA 21 A017 60 M M 4 BA 10 A018 61 F M 3 Di ploma 22 A019 60 M M 6 Master 26 A020 60 M M 6 Masters 13 A021 69 M M 6 Masters 30 A022 60 M M 4 PhD 9 A023 60 M M 3 Certi fi cate 27 A024 60 M M 3 PhD 28 A025 61 M M 6 Di ploma 11 A026 60 M M 3 Maters 12 A027 60 F S 3 Masters 10 A028 62 M M 4 PhD 29 Source: Fi eld work (2018). 110 University of Ghana http://ugspace.ug.edu.gh Key M - Men F - Female S - Single BA -Bachelor of Arts HND -Higher National Diploma PhD -Doctor of Philosophy 4.2 Soci o-demographi c Characteri sti cs of Management Members The management members, four Ordained Ministers and one non-minister who parti ci pated i n thi s study were the Publi c Relati ons Offi cer of the Church, Di rector of Fi nance, Clerk of General Assembly, former Moderator of the Church and the Human Resource Di rector. They had worked wi th the Church for between 18 months and 37 years (Table 3). Table 5: Soci o-demographi c Characteri sti cs of Management Members of the Presbyterian Church of Ghana I D of Age Sex Mari tal Number Work Educati onal Respondent (Years) Status of Experi ence Attai nment Chi ldren as Mi ni ster M001 44 M M 4 4 years Masters M002 58 M M 3 28 years PhD M003 39 M M 2 18 months Master M004 68 M M 2 37 years PhD M005 53 M M 3 7years Masters Source: Fi eld work, (2018). 111 University of Ghana http://ugspace.ug.edu.gh All the management members were male, married and had attained a minimum second degree in education. 4.3 Soci o-demographi c Characteri sti cs of Reti rees Ei ght reti red mi ni sters were i ntervi ewed i n thi s study: si x males and two females. Thei r ages ranged from 68 to 70 years. One had retired voluntarily. They have served the church for between 16-48 years (Table 4). Table 6: Soci o-demographi c Characteri sti cs of Reti ree Mi ni sters of the Presbyterian Church of Ghana I D of Age Sex Mari tal Number Educati onal Work Respondent Status of attai nment Experi ence Chi ldren as Mi ni ster R001 70 M M 3 Masters 23 R002 70 M M 7 PhD 25 R003 70 M M 5 Masters 48 R004 70 M M 6 BA 21 R005 70 M M 4 PhD 44 R006 70 F S Ni l Post-graduate 17 Di ploma R007 70 M M 6 Di ploma 17 R008 68 F M 4 BA 16 Source: Fi eld work, (2018). 112 University of Ghana http://ugspace.ug.edu.gh 4.4 Themati c Analysi s The researcher used the themati c analysi s i n grounded theory. The i ntervi ews conducted were fully transcri bed usi ng NVi vo (11) to allow themati c analysi s. Themati c analysi s i n the context of grounded theory offers a systemati c approach to the analysi s of quali tati ve i ntervi ew data i n soci al research. Glaser and Strauss developed the quali tati ve research method of grounded theory i n the 1960s out of the need for more theori es when doi ng research related to soci ology (Creswell, 2007). 4.5 Psychologi cal Preparati on of Ordai ned Mi ni sters for Retirement The fi rst objecti ve of the study sought to understand how ordai ned mi ni sters of the Presbyteri an Church of Ghana prepare psychologi cally for thei r reti rement. The fi ndi ngs of thi s study showed that all parti ci pants made some form of psychologi cal preparati on towards reti rement. The type of reti rement preparati on vari es across i ndi vi duals. The psychologi cal preparati on i s about the reti rement preparati on at the i ndi vi dual level and i n the fami ly as a whole. Generally, parti ci pants were of the vi ew that reti rement comes wi th a lot of boredom and changes from an i ndi vi dual acti vi ty to that of dai ly li vi ng. To that end, some form of psychologi cal preparati on was requi red to make a good transi ti on. The study found that one ki nd of psychologi cal planni ng that parti ci pants i n thi s study employ i s to develop themselves i n thei r area of experti se where they can conti nue to provi de that servi ce in a pri vate capacity duri ng reti rement. For example, one 113 University of Ghana http://ugspace.ug.edu.gh parti ci pant who i s a trai ned counsellor i ndi cated how he plans to conti nue to do counselli ng duri ng reti rement as a form of psychologi cal preparati on: Am planni ng to be counselli ng people so I  am even ready to further my counselli ng course to keep me goi ng and busy even when I  am reti red (A001). Other parti ci pants had thi s to say: Yes I ’ve already prepared my mi nd, knowi ng that thi s posi ti on i s just for servi ce so i t shouldn’t get i nto my head so I  should do my best to make sure that I  contri bute and leave a legacy that I  can be proud of so that I  can look back and say thank you God. You called me and I  was able to accompli sh my mi ssi on. And then I  also prepared myself to know that my present condi ti on or thi s chai rmanshi p i s not permanent and next year I  am fi ni shi ng as chai rperson and because of my trai ni ng also, I  know what to do the best, where I  should go, should I  go to the lectureshi p, should I  go back to the church? Where should I  be? So I  sti ll have some opti ons and I  just pray for God’s gui dance so I  can know what I  can do so that my last few years of worki ng for the church wi ll be useful and could also prepare me for reti rement very comfortably (A024). I  wi ll say I  have prepared myself for reti rement. I  know one day I  wi ll not be i n a job and also i n the mi ni stry so I  am conci encti si ng myself. I  am also educati ng my wi fe and chi ldren. I  have also seen lecturers who fai led to plan for reti rement and went home wi th thei r bri ef cases to thei r fami ly homes. I  114 University of Ghana http://ugspace.ug.edu.gh am also prepari ng myself to conti nue wi th the preachi ng of the gospel to others, even when I  reti re (A005). Another parti ci pant was of the vi ew that reti rement comes wi th a lot of i ll-health and psychologi cal trauma; hence one needs to li ve a healthy li fe and engage i n a healthy li festyle to mi ni mi ze the li keli hood of i ll-health duri ng reti rement: I n that case, I  was a li ttle bi t cauti ous about myself. I  don’t dri nk. There are a lot of thi ngs I  refuse to i nvolve myself i n so that I  keep my health and then I  mai ntai n my body and so on. I  am always aware that there wi ll be a ti me that I  wi ll put down the pen and then I  wi ll be at home so I  made provi si on i n my mi nd for i t (A005). Some parti ci pants used the experi ence of reti red mi ni sters as a gui de to prepare themselves psychologi cally. I n thei r vi ew, once they see reti red mi ni sters go through challenges, those who are sti ll i n acti ve servi ce use that to prepare psychologi cally as i llustrated: I n fact wi th a li ttle experi ence of some mi nsters how they have been treated after they reti red, I  see i t as also a challenge that I  am also goi ng to face. So now I  have prepared my mi nd that, by all means, i t i s comi ng to my turn (A003). Another psychologi cal preparati on made towards reti rement i s di scussi ng the reti rement wi th partners to ensure that they are psychologi cal prepared for the demands of reti rement as i llustrated: 115 University of Ghana http://ugspace.ug.edu.gh I  have i nvolved my fami ly, wi fe and chi ldren to prepare them psychologi cally for my reti rement. Thi s i s i mportant to ensure that the enti re fami ly i s prepared psychologi cally for what to expect duri ng reti rement (A003). As for myself, because I  know where I  am stayi ng, I  know I  wi ll by all means one day leave. For my wi fe and my chi ldren, I  always tell them li fe i s i n the hands of the Lord so we have to be prepared at any gi ven ti me, that as for the manse, you can leave the mass at any ti me so therefore when you are doi ng somethi ng, you should prepare well and know where we are headi ng towards and when the uncertai nty happens, i t shouldn’t come by surpri se (A025). I  know by all means I  wi ll be leavi ng the manse by 5-10 years to come, so at the moment, I  try to put somethi ng small down. I  wi ll not be lonely because I ’m a farmer and wi ll love to be i n my vi llage and I  have been prepari ng my wi fe and chi ldren gradually as well” (A023). I ntervi ews wi th reti red parti ci pants showed that they made si mi lar preparati on before reti rement. A reti red parti ci pant had thi s say: You need to prepare psychologi cally for reti rement. I  di scussed wi th my fami ly si x years to my reti rement for us to prepare psychologi cally for i t. Thi s was very helpful si nce i t made every member of my fami ly ready for the reti rement (R003). The study further found that some parti ci pants become anxi ous about reti rement a few years to the ti me. Some parti ci pants beli eved that they experi enced some deni al 116 University of Ghana http://ugspace.ug.edu.gh i ni ti ally anyti me the thoughts about reti rement came. Thi s deni al was due to the fact they felt they had prepared well for reti rement and the percei ved dchallenges when they no longer work as i llustrated: Some people experi ence anxi ety when they thi nk about reti rement. Thi s happens when you have not prepared for i t. So, counselli ng may be i mportant for people approachi ng reti rement (R002). There i s a lot of anxi ety when you thi nk about reti rement. I t i s mostly because we feel we have not prepared well for the challenges. Thi s becomes worse when your chi ldren are sti ll i n school (A006). A reti red mi ni ster narrated how attendi ng a semi nar on reti rement helped hi m accept the fact that i t was i nevi table. Thi s, i n hi s opi ni on, faci li tated a psychologi cal preparati on and he recommended that the church should i ncorporate thi s i nto thei r programme of acti vi ti es annually for mi ni ster who are left wi th fi ve or less years to reti rement. I n hi s vi ew thi s wi ll help i n the transi ti on from normal work to reti rement as i llustrated: I  attended a pri vate semi nar on reti rement and thi s was very helpful. I t prepared psychologi cally for thi s transi ti on. Thi s i s very i mportant, and I  wi ll recommended that the Presbyteri an Church take thi s seri ous for those near reti rement. At least i f they can target those who have a few years or less, i t wi ll help them (R002). 117 University of Ghana http://ugspace.ug.edu.gh I ntervi ews wi th management members showed that all newly ordai ned mi ni sters are i nformed about the need to plan towards thei r reti rement. The followi ng quote i llustrates thi s poi nt: I  wi ll say yes that the church has pre-reti rement preparati on for i ts ordai ned mi ni sters. Thi s i s because I  joi ned the general assembly offi ce as a PRO, and one thi ng that I  have noti ced i s that anyti me a mi ni ster i s ordai ned, he or she i s remi nded that you have thi s number of years to serve the church based on your age. So i f you have any preparati on to do towards reti rement, you must start from now as an i ndi vi dual (Male, M001). Despi te thi s, i n an i ntervi ew wi th management members, they acknowledged that some mi ni sters someti mes do not prepare psychologi cally for reti rement and thi s has a negati ve effect on them. For example, a management member shared hi s experi ence wi th psychologi cal preparati on for mi ni sters: “I  don’t thi nk we prepare our mi ni sters psychologi cally towards reti rement, because si nce I  came here, I  have been to the general assembly for over four years where mi ni sters who go on reti rement are presented. Someti mes after the servi ce, you could see some frustrati ons meani ng that though the person knows that he or she wi ll go on reti rement, the person’s mi nd has not been prepared psychologi cally by the church (Male, M002). Attending seminars on retirement annually. The findings on psychological preparations confirms Dorfman(1989) who once posited, individuals involved in early retirement 118 University of Ghana http://ugspace.ug.edu.gh and counselling programmes are likely to be better adjusted psychologically than those who have not 4.5.1 Fi nanci al Preparati on of Ordai ned Mi ni sters for reti rement The second objecti ve the study was to understand how the Ordai ned Mi ni sters of the Church prepare fi nanci ally for thei r reti rement. From the study, i t was clear many parti ci pants agreed that they had to make fi nanci al preparati on towards thei r reti rement because the package that i s gi ven to them by the church was beli eved to be i nadequate. Thi s could, therefore, not sustai n them duri ng reti rement. Hence, many parti ci pants had one form of i nvestment as fi nanci al preparati on. The study found that parti ci pants i nvested i n a provi dent fund manned by the church as a form of fi nanci al preparati on towards reti rement. Thei r contri buti on to the fund makes them eli gi ble for a lump sum duri ng reti rement as i llustrated: Besi des those who are Tent Mini sters (part-time), some i nvest i n SSNI T as requi red by the Nati onal Pensi on Act. Another form of fi nanci al preparati on was i nvesti ng i n shares of li mi ted li abi li ty compani es and i n Government of Ghana Treasury Bi lls. Almost all parti ci pants i ntervi ewed i n thi s study i ndi cated that they have i nvested i n ei ther shares or treasury bi lls. The followi ng quotes support these clai ms by respondents: I  have bui lt a house, bought shares and treasury bi lls and also I  have an educati onal poli cy for my chi ldren (A005). “I  have bought some share i n some compani es i n Ghana and I  also have some treasury bi lls as a form of preparati on towards my reti rement (A006). 119 University of Ghana http://ugspace.ug.edu.gh Ooh well, I  have bought fi xed deposi ts, now adays i t i s i n money form” (A018). I n addi ti on wi th the school wi th my last born, but I  thi nk that the target that I  set, I  already have my bonds there, I  have also set the target that at every month thi s i s the amount I  wi ll put somewhere. Thi s i s somethi ng that I  have done and I  don’t touch i t. I  thi nk i f I  am to go, then i t i s very necessary, otherwi se I  don’t go i n. but wi th the fi xed deposi t that have made I  don’t even dare to go i n, for that one I  have targeted for my fi nal day of my reti rement, so the challenges are that someti mes I  see that I  am very hard pressedfor money, but I  try to control myself to li ve wi thi n my needs, when I  get the ‘sumptuous’ I  wi ll eat when I  get the ‘chi n chi n’ I  wi ll eat (A018). Some parti ci pants i ndi cated they had i nvested i n the bui ldi ng of estate and housi ng, whi ch wi ll be gi ven out for rent as a form fi nanci al protecti on duri ng reti rement. Parti ci pants i nvested i n buyi ng stores and starti ng a pri vate busi ness duri ng reti rement. The followi ng quotes support these forms of i nvestment by parti ci pants: I  have some bui ldi ngs whi ch I  wi ll rent to people to earn some money duri ng reti rement. I  also have stores i n town, all these are part of my preparati on. When you see how some of our mi ni sters are struggli ng after reti rement, you wi ll have to prepare fi nanci ally towards i t (A018). I  managed to bui ld my house for my fami ly and now I  am tryi ng to put up another bui ldi ng whi ch I  can rent out as a form of i nvestment (A020). 120 University of Ghana http://ugspace.ug.edu.gh Ok, what I  di d myself i s that, i n fact, I  through the counselli ng or advi ce of my spi ri tual father, Rev. Anane, who i s now 102 years old and stayi ng studyi ng at Kofori dua. He i s my spi ri tual father because he actually confi rmed me i n Bawku i n 1972 He actually told me when I  was a young mi ni ster, to actually get a pi ece of land for myself and then put up my own house, i f not, a ti me wi ll come when I  reti re, I  wi ll enjoy the mi ssi on house and when I  reti re I  wi ll not get a place to stay and you go to your fami ly house, you cannot be comfortable, so that made me go to buy a pi ece of land, i n fact i n Accra i n 1995, I  bought that land and at least I  have been able to put some rooms on i t, and I  am tryi ng to develop. There i s sti ll some space so I  am tryi ng to develop that space too so that when I  reti re i t wi ll be hi red. As I  speak, there i s someone i n the house that I  have bui lt and I  have bought another one i n Kofori dua and put up some few bui ldi ngs on i t, whi ch I  desi gnated for my reti rement home so that I  can use the Kofori dua one, the Accra one for i ncome booster for me when I  reti re (A011). I  am bui ldi ng and savi ng some money and buyi ng bonds and treasury bi lls i n preparati on towards reti rement (A025). Other parti ci pants have wri tten books that they i ntend to be selli ng duri ng reti rement. Some beli eved that, duri ng reti rement, they wi ll open up a consultancy and sti ll engage i n some form of acti vi ti es such as counselli ng as i llustrated: I  have wri tten some books and sti ll has plans of wri ti ng more whi ch I  wi ll depend on when I  reti re. I  am also a fami ly counsellor and wi ll provi de consultancy servi ce to fami li es duri ng reti rement (A005). 121 University of Ghana http://ugspace.ug.edu.gh The study found that the church has an amount that i s gi ven to mi ni sters when they reti re. Thi s package comes from the church and the admi ni strati on of the church as a farewell package. Thi s amount was generally beli eved to be i nadequate and meagre. The followi ng quotes from respondent support thi s vi ew: As far as I  am concerned, I  am not aware of my reti rement plan. I  know of the Provi dent Fund and envelope gi ven to full ti me mi ni sters but not tent mi ni sters of whi ch I  am one. I  do not know of any organi sed reti rement preparati on done by the church for her mi ni sters’ (A005). The church has package i n relati on to the requi rement of the law for all workers of the church, i ncludi ng mi ni sters of the church. As to whether they are worki ng for the church, the church has two streams of package i .e. those who are on the nati onal pensi on’s scheme of the church because they are not quali fi ed to be on the nati onal pensi on scheme. So the church has i ts own pensi on scheme for those who do not quali fy to be on the nati onal pensi on schem” (A002). These reti rement packages are gi ven to mi ni sters upon attai ni ng the compulsory reti rement age of 70 years; however, mi ni sters can request for voluntary reti rement at age 65 years and sti ll be enti tled to the same package as i llustrated: Now, the Church has poli ci es i n terms of when to reti re and i n the church so we expect that mi ni sters go on compulsory reti rement at age 70 and voluntary at 65. (A010). 122 University of Ghana http://ugspace.ug.edu.gh A parti ci pant shared her experi ence wi th a mi ni ster who reti red before the mandatory age of 70 years because of i ll-health: You are allowed to reti re when you attai n the age of 65 years, but the normal reti rement age i s 70 years. Some people reti re earli er because of i ll-health. (A015). The study showed that some pastors work as ‘tent mi ni sters’. I n that case such mi ni sters make regular contri buti ons to the nati onal pensi on scheme; Soci al Securi ty and Nati onal I nsurance Scheme as well as the ti er three pensi on scheme. These type of mi ni sters are therefore enti tled to the lump sum amount gi ven to workers that contri bute to SSNI T and other pri vate pensi on schemes. The followi ng quotes i llustrate these poi nts: Fi nanci ally, the board of the staff i s on the nati onal pensi on scheme and therefore the church pays i ts contri buti on to the nati onal pensi on scheme. But for those who are on the church’s pri vate pensi on scheme, there are monthly contri buti ons that are supposed to be pai d by the church (M003). Some mi ni ster are ‘tent mi ni sters’ and work as professi onals where they make contri buti on to SSNI T. So duri ng reti rement, they get the SSNI T benefi t. However,i f you are not one of them, you wi ll have to depend on the package from the church, whi ch i n my opi ni on i s woefully i nadequate. (A006). The Presbyteri an Church of Ghana used to have the pensi on for her mi ni sters after reti rement. Unfortunately, i t happens to be a meagre fund because all these are dependent on your sti pend. I ni ti ally the sti pend was so low. I t cannot 123 University of Ghana http://ugspace.ug.edu.gh be compared wi th that of a publi c or ci vi l servants that i s why I  say i t was so low. I n addi ti on to that, you are gi ven some allowances from your congregati on whi ch serves a support. All mi ni sters are to be on the pensi on scheme of the church, but unfortunately, when the number began to i ncrease, they then saw that the fund wi ll not be sustai nable. They advi sed that the young mi ni sters among us be put on SSNI T so that the old ones wi ll face wi th that system. So now, many of us are on the SSNI T pensi on scheme. Meanwhi le, i t i s based on your SNNI T contri buti on as well. And that same contri buti on i s pai d out of your sti pend. Therefore, the bonus for your contri buti on i s already low. So, i f you depend solely on your SSNI T, you are goi ng to recei ve a very low pensi on at the end of the day. Every mi ni ster has to plan for hi mself or herself but the church saw thi s and came up wi th the welfare fund. A plan was put i n place to have bui ldi ngs for mi ni sters but we saw that we di dn’t have a fund. We need to start from somewhere, but the argument also came that mi ni sters wanted thei r houses at thei r chosen places. So the fi nal deci si on came that mi ni sters should contri bute so that when they are leavi ng, on your reti rement, the lump sum wi ll be gi ven to you so that you go and bui ld or you may want to apply to have i t when you are almost goi ng and start somewhere. So the Church has a welfare package (Mi ni sters Welfare Fund) that i s documented. I t just started about fi ve years ago. Thi s means those who started early wi ll not benefi t from i t. I t i s those who are young that wi ll benefi t from i t. So therefore, what should you li ve on i f you should leave i n just 10 years. You are to have addi ti onal plan to sustai n yourself. You have chi ldren to care of, you also have spouse to take care of. So for me I  am dependi ng on treasury bi lls for now, and 124 University of Ghana http://ugspace.ug.edu.gh then also where I  would lay my head, should I  reti re. Thi s i s because I  have heard mi ni sters that when they reti re, they go to li ve i n fami ly houses.(A019). I n addi ti on, the church operates a provi dent fund where members, i ncludi ng mi ni sters, are encouraged to make monthly contri buti ons. The fund, whi ch i s si mi lar to a pensi on scheme, pays a lump sum to reti ri ng mi ni sters. The followi ng quotes i llumi nates these poi nts: We have a provi dent fund where people make monthly contri buti ons. When you make contri buti ons, they pay you some amount when you reti re. You can also collect loan from the fund to other thi ngs whi lst sti ll worki ng (M002). Ok for me, for the church, i f the church has a fi nanci al arrangement, the church has what we call Provi dent Fund (PF) where mi ni ster salari es, part are taken and put i n that fund, some who have SSNI T account they also put some of that contri buti on i n that account and probably some other areas of i nvestment. And I  also know the mi ni ster’s conference has a way by whi ch they take some moni es from mi ni sters and they are also putti ng that i nto some account (, A007). The above findings on financial preparation confirms (Lawrence, 2007) who posited that investing in pension schemes, SSNIT and treasury bills were a pre-requisite towards financial preparation for retirement. 125 University of Ghana http://ugspace.ug.edu.gh 4.5.2 Soci al Preparati on of Ordai ned Ministers for Reti rement The study found that one major soci al preparati on that parti ci pants made was to bui ld a house for thei r household. Many of the parti ci pants i ndi cated that they were li vi ng i n a resi dence owned by the church. Hence, they wi ll be expected to leave the resi dence after reti rement. I t was therefore i mportant to plan on where to li ve wi th thei r fami ly after reti rement. The followi ng quotes i llustrate thi s poi nt: “I  li ve i n offi ci al resi dence of the church and wi ll be leaving the place after reti rement. So I  have renovated my old house for my fami ly after reti rement (A021). Soci ally, I  have put up a bui ldi ng for myself and my fami ly after reti rement. Someti mes, i t i s pi ty to see some mi ni sters reti re and have no place to lay thei r head and those of thei r fami ly (A008). I ntervi ews wi th management members showed that some mi ni sters are unable to bui ld thei r own resi dence whi lst i n acti ve servi ce and therefore had to rely on the church to assi st them i n that di recti on. Management members i ndi cated an i nstance where the church put up a bui ldi ng for a reti red mi ni ster. We have had i nstances where some mi ni sters reti re wi thout putti ng up thei r own house and the church had to assi st them. We recently assi sted one mi ni ster with accommodation” (M001). Some… but the majori ty are copi ng well. I  am sayi ng thi s because there are some of them that two years to thei r reti rement, suddenly fell si ck. There are some who have houses and some don’t and I  remember the church planni ng 126 University of Ghana http://ugspace.ug.edu.gh on bui ldi ng houses for such people. Duri ng my tenure, the church bui lt three houses for such people (M004). Some parti ci pants were of the vi ew that they wi ll conti nue to render servi ces to the church and communi ty to make them soci ally relevant after reti rement as i llustrated: I  wi ll be helpi ng the communi ty through counselli ng; also I  wi ll be helpi ng the wi dows by goi ng around to gi ve them some gi fts through the li ttle help I  recei ve from people (A001). My experi ence as a worker of chi ldren’s servi ce so I  wi ll be engaged i n chi ldren’s acti vi ty. I  am i nterested. So I  wi ll get engaged i n i t (A003). I n the fi rst place, I  am i n contact wi th my Presbyteri an church at home and I  always help them and I  contri bute a lot to bri ng my fami ly up. Fri ends around know me and I  am free wi th them. So I  don’t have a problem wi th the envi ronment and so on. I  am the fami ly head, so I  go home occasi onally (A005). Another soci al preparati on that was made by parti ci pants was being i n touch wi th church at thei r home town. Thi s was done to establi sh some rapport wi th the local church so that they can be engaged i n the church after reti rement when they move to thei r hometown as i llustrated: I  am i n constant touch wi th my church at my home town where I  move to stay when I  reti re. So I  have a good rapport wi th them and they wi ll engage me i n thei r acti vi ti es when I  move to the communi ty after reti rement” (Male, A021). 127 University of Ghana http://ugspace.ug.edu.gh Agai n, wi th soci ali zati on wi th people,I  don’t thi nk I  wi ll have any problem because I  am somebody that easi ly mi x wi th people, i f only I  want to do i t. I  can also keep away and i t wi ll surpri se you. I  thi nk when I  reti re i t wi ll be the same when I  reti re. Some of the thi ngs I  do, for i nstance, the women fellowshi p i s there and I  am a member, I  contri bute, I  am a chori ster, i t i s of late that, when I  go to my hometown and we close from church, I  meet the chori sters and I  di scuss wi th them what is expected of them and others then I will experience the soci al li fe wi th the secular society. Si nce I  am from the royal fami ly, when I  go there I  contri bute towards that. My hometown, they actually know me. When I  go to the palace, they know me, when I  go to the church, they know me. When I  reti red from publi c servi ce and I  was gi ven my lump sum I  even pai d my ti the through thei r banki ng system. So I  don’t thi nk soci ali zati on and other thi ngs duri ng my reti rement wi ll affect me regularly even when I  go to my hometown, I  someti mes come to si t i n front of my house, so those goi ng to farm, I  i nteract wi th them (A018) I  have a home for myself. As I  speak now, I  am a fami ly head so i t i s just a normal thi ng we do. That i s why I  always take my annual leave duri ng our ti me of festi vals when we make funerals so as to soci ali ze wi th them. I  take my leave every last week i n July because the fi rst Saturday i n August i s our durbar day and then the next week i s funerals for the whole town. That has been a practi ce already. I  am not li ke those who do not go to thei r hometown and they become a li abi li ty to thei r fami ly. I  contri bute soci ally very greatly. The relati onshi p wi th the church and soci ety when I  reti re wi ll sti ll be cordi al because the Presbyteri an Church i s at Mekpe, whi ch i s very strong and a di stri ct head 128 University of Ghana http://ugspace.ug.edu.gh whi ch I  have been the mi ni ster there two ti mes. So they know me and I  know them. There are many occasi ons they even i nvi te me to come and do buri als and other thi ngs for them but because of ti me and di stance, someti mes I  couldn’t make i t. So, i f I  happen to be at home, i t wi ll be a glory to them. For the young ones of the church, we teach them what happens to you when you serve the Lord very well. That i s, teachi ng them to come to the Lord and bri ngi ng thei r problems and i ssues to the Lord. These are all the thi ngs we teach duri ng gui dance and counseli ng for whi ch I  wi ll contri bute soci ally duri ng reti rement (A016). Another form of soci al preparati on was to ensure that the chi ldren recei ved the best of educati on or are worki ng. Thi s was done to ensure the children become responsi ble, marry and gi ve bi rth to chi ldren so that they can be taki ng care thei r grandchi ldren. They emerged as well-entrenched i n soci al preparati on among female parti ci pants, more so than thei r male counterparts: You take care of chi ldren to be producti ve i n future wi th the hope that they wi ll get marri ed and beget chi ldren for you to take care of grandchi ldren. That i s the wi sh of all parents (A013). The above social findings confirm Topa, Moriano, Depolo, Alcover and Morales(2009) who posited that rental and staying in family house pose a serious challenge to retirees hence, most retirees prefer putting up their own house to have their peace of mind. 129 University of Ghana http://ugspace.ug.edu.gh 4.6 Avai labi li ty of Reti rement Schemes i n the Church All parti ci pants i n thi s study acknowledged the i mportance of prepari ng for one’s reti rement. I n thei r vi ew, fai lure to plan towards one’s reti rement may lead to challenges duri ng reti rement. For example, one parti ci pant drew on the experi ence of a reti red mi ni ster to buttress the need for reti rement planni ng as i llustrated: “…For i nstance, when I  was at a stati on, I  saw a reti red mi ni ster I  was gi vi ng communi on and I  vi si ted hi m and i n fact when I  saw hi s si tuati on, I  felt that I  must start thi nki ng of myself. So I  started maki ng plans prepari ng myself so that I  wi ll not fi nd myself i n that parti cular si tuati on as I  saw that mi ni ster i n” (A005). “No, I  cannot say there i s, but from ti me to ti me retirement preparation issues were discussed.. You wi ll get people conducti ng talks on reti rement but as a church I  don’t thi nk there i s an establi sh form of reti rement plane where they educate people, the wi ll semi nar, conference, who are about feel, as soon as you start work, then you start bei ng educated at one day you wi ll go home, and how are you goi ng, so that we start prepari ng. Yes, i n fact duri ng mi ni ster’s conference, we are educated there i s a pi ece thi nk of the future there i s one thi ng I  learnt from such conference as part of thei r pi eces of advi ce were gi vi ng, I  learnt that i t i s not good, not that useful to thi nk of putti ng up huge bui ldi ngs as reti rement thi ng, because when you reti re, you are goi ng wi th your chi ldren, and they may not even li ke the bui ldi ng anyway, they may not even be where wi ll reti re and settle, they mi ght be at another place. 130 University of Ghana http://ugspace.ug.edu.gh “So there i s no need to thi nk of a huge thi ng. I n fact i t i s part, I  can say that, that i s an educati on or reti rement that they gi ve but as for a formal plan, No. But a pi ece of i nformati on once i n a whi le teach whi ch remi nds us one day we should prepare and i t starts now”.(A026) “You only get to know them as semi nars, talks at mi ni sters’ conferences presbyters meeti ngs, among others. There i sn’t any scheduled gui de or preparati on there for any mi ni ster to go through” (R003) “Defi ni tely I  do not know any reti rement plan i n church. Once a whi le i f you attend mi ni sters conference, there would be a topi c to prepare you for reti rement. But as church I  do not know of any reti rement plans” (A004 ). “As a matter of fact, I  don’t thi nk I  can tell, thi s i s because I  haven’t heard anythi ng of that sort may be because I  have not reached there I  don’t know how they prepare thei r Mi ni sters towards successful reti rement. But as an i ndi vi dual I  have plans of prepari ng myself towards reti rement.”(A018) There i s no seri ous preparati on towards a mi ni ster’s reti rement. But someti mes help i s gi ven to those who have projects someti mes. They are ai ded i n a way when they need i t. There i s nothi ng. Formally, i t was one thousand cedi s as a sendoff package and so the mi ni sters’ conference also wi ll add a li ttle. That on too formally i t was Three hundred Ghana cedi s but now i t i s Fi ve hundred Ghana cedi s. By all means somethi ng seri ously must be done because some of the mi ni sters go on reti rement and they are not able to make i t and 131 University of Ghana http://ugspace.ug.edu.gh they di e very soon. I n fact, most of them, those who are not able to get accommodati on and thi ngs they regret and- di e qui ckly when they are on reti rement. Those who are not able to bui ld joi n the fami ly i n the fami ly house. No pri vacy for them. They would not enjoy li fe as they used to when they were i n mi ni stry. Thi s pushes them fast i nto the grave. And at that age too health wi se they don’t get any support from anyone. So they have to fend for themselves. They have to bear for thei r hospi tal bi lls themselves. Someti mes when they take i t to the head offi ce i t wi ll take a long ti me even i f the church wi ll pay for them, they wi ll have to struggle before somethi ng i s done for them. Nothi ng i s generally set for reti red mi ni sters. I t i s there only when somebody i s i n need. I n fact, the way the church handles mi ni sters you cannot bri ng that sayi ng that “the treatment an organi zati on gi ves should have the value of the workers who have contri buted to the work” i nsi de there. Because i t i s not practi cable to the church. For contri buti on and wi th the church, when one i s worki ng for the church there i s nothi ng that pri cks the mi nd of the leaders of the church to si t wi th thei r subordi nates. They always take i t that you have been called and that your reward i s i n heaven.(A003) However, one mi ni ster had a di vergent vi ew: “The church has package i n relati on to the requi rement of law for all workers of the church i ncludi ng mi ni sters of the church. As to whether they are worki ng for the church, the church has two streams of package i .e. those who are on the nati onal pensi on’s scheme and those who are not quali fi ed to be on the 132 University of Ghana http://ugspace.ug.edu.gh nati onal pensi on scheme. So the church has i ts own pensi on scheme for those who do not quali fy to be on the nati onal pensi on scheme” (A002). The study found that the church had an amount that i s gi ven to mi ni sters when they reti re. Thi s package comes from the church and the admi ni strati on of the church as a farewell package. The study found that the church operates a medi cal scheme to cater for the medi cal bi lls of reti red mi ni sters as i llustrated from this quote from a study parti ci pant: “The church however takes care of the medi cal bi lls of the mi ni sters when they are on reti rement. They are pai d monthly for thei r medi cal bi lls. I t i s bei ng gi ven as and when you make payment for medi cals” (Male, M011). On the contrary: Essenti ally, I  thi nk that when I  started work at the head offi ce of the church i n 1998, I  was appoi nted the general secretary of chi ldren’s work. So I  had to be at the head offi ce. That was where i n di scussi ons and meeti ngs, I  came to reali ze that nothi ng i n parti cular i s done to prepare for reti rement i n terms of thei r reti rement benefi ts that at the end of your servi ce, thi s i s a package so that people wi ll be aware i .e. why I  sai d people go and whatever they get i s di sappoi ntment wi th them because they di dn’t expect that. Some people’s medi cal bi lls are not pai d and that was when I  started thi nki ng about what do I  can do for myself. 133 University of Ghana http://ugspace.ug.edu.gh A reti red mi ni ster shared her experi ence on the reti rement package she recei ved, whi ch i n her opi ni on was i nadequate: “What I  had from the General Assembly was about GHC1900.00. That was all I  got as a reti ri ng mi ni ster. I  was also gi ven GHC1000 from the nati onal conference. These are what I  have recei ved and i s woefully i nadequate. What can you do wi th such an amount? You cannot even bui ld a si ngle room wi th such an amount not to talk of a house” (R006). As result of the i nadequate reti rement package, some Mi ni ster have to take up other jobs duri ng reti rement for thei r survi val. Some Mi ni sters had to engage i n meni al jobs. A parti ci pant shared hi s experi ence wi th a Mi ni ster who had to fi ght wi th fami ly members over a cocoa farm duri ng reti rement because he faced fi nanci al challenges: “Some mi ni sters reti re and have engage i n meni al jobs. I t i s pi ty someti mes to see what happen to them after servi ng the church for several year. One mi ni ster had to take over a cocoa farm for hi s li veli hood and thi s was embarrassi ng” (A009). The absence of a comprehensi ve reti rement plan for full ti me mi ni sters created a si tuati on where some mi ni sters feel reluctant to accept a posti ng to a rural community, because mi ni sters i n urban areas may recei ve gi fts from congregants, whi ch the person can use to plan towards hi s/her reti rement as i llustrated: “The church has no plans concerni ng reti rement. That i s the season why our young men who are comi ng now are yearni ng for urban areas. People would have gone anywhere even the rural areas i f there were good reti rement plans” 134 University of Ghana http://ugspace.ug.edu.gh (A018). For i nstance I ’m now i n the Northern Presbytery but when other Ordained Ministers are sent they are not willing because it is a deprieved. They even see i t as a puni shment because they done have a very good package, everybody wi ll li ke to go where there i s so that when they are goi ng they can bri ng somethi ng. At least have a home and have somethi ng. So these are physi cal reali ti es that someti mes can be obstacles.(A011) Recogni zi ng the di spari ti es between rural and urban areas and to encourage mi ni sters to accept posti ng to rural areas the church has i nsti tuted a speci al package for those who work at depri ved areas and communi ti es. Thi s was put i n place to encourage mi ni sters to accept posti ng to depri ved areas as i llustrated: “….For those who are i n depri ved areas, there i s a speci al fund whi ch we gi ve to them. A speci al allowance that we gave to mi ni sters i n depri ved areas to attract people. And we also try but i t wi ll not materi ali ze now for mi ni sters i n depri ved areas, we i ntend to establi sh a boardi ng house for thei r chi ldren” (R003). As per the condi ti on of servi ce, on paper everythi ng i s fi ner but on the ground i ts di fferent. I n some places, mass i s deteri orati ng and condi ti ons are terri ble. Also you could be sent to a place whi ch i s hi nterland no sort of mobi li ty i n term of transport. You are thrown to a place and would be forced to manage. These condi ti ons are not pleasant and do not help the mi ni stry. I  enjoy servi ng as mi ni ster because the calli ng i s not from man but from God. The lord has called you and He provides for us. Thus we must also be prepared to work for others.(A004 ). 135 University of Ghana http://ugspace.ug.edu.gh I ntervi ews wi th management members showed that the speci al package exi st for those worki ng i n depri ved areas as an i ncenti ve. Thi s notwi thstandi ng, some mi ni sters sti ll do not wi lli ngly agree to work i n such places as i llustrated: “The church has speci al i ncenti ve package to encourage people to accept posti ng to depri ved areas but as you know nobody wants to work i n such place. The i ncenti ve package i s however helpi ng” (M002). 4.7 Trai ni ng of Mini sters on Retirement Planni ng There were mi xed fi ndi ngs on whether parti ci pants had recei ved trai ni ng on reti rement planni ng. Some parti ci pants i ndi cated they had attended semi nars where presentati ons were made on planni ng for reti rement. They however i ndi cated that thi s was not a regular practi ce but was part of a church programme for mi ni sters as i llustrated: “Personally I  wi ll say no because there i s no parti cular schedule to prepare you towards reti rement. There are no educati on, semi nars towards preparati on of reti rement. Also, there was no structured strategy prepari ng you as a reti ri ng mi ni ster” (R006). “…there was a ti me we had a workshop at a presbytery about reti rement just once and I  was there and I  parti ci pated i n i t” (Female, R006). “I  have not recei ved any trai ni ng on reti rement. Someti me, we have semi nars for Mi ni sters and some of these thi ngs are di scussed duri ng such platforms. We also rely on experi ence of other reti red mi nsters as a gui de” (A027) 136 University of Ghana http://ugspace.ug.edu.gh There hasn’t been any structured pre-reti rement preparati on or plans i n the church, but once a whi le they make menti oned of reti rement preparati on. But duri ng the former moderator Very Rev Bekoe ti me there was extensi ve paper on the preparati on of mi ni sters i n the church. Si nce he left offi ce we do not know want has come out of i t.I  wi ll suggest the church re-vi si t Very Rev Bekoe paper on reti rement. (Male, A028) I  was teacher on SSNI T before I  joi ned the church as full ti me mi nsters and pleaded wi th the church to conti nue to pay my SSNI T contri buti on but the church refused. I  have to rai se money on my own to conti nue payi ng the SSNI T contri buti on to enable me quali fy for SSNI T Pensi on when I  reti re. (Male, A028) Gi ven the vi ews on the i mportance of planni ng for reti rement, some study parti ci pants were of the vi ew that i t should be i ncorporated i nto the trai ni ng of mi ni sters, especi ally for those who are full ti me mi ni sters. The followi ng quote supports thi s vi ew: “I  thi nk educati ng mi ni sters on reti rement and savi ngs towards i t should be menti oned at the ti me of trai ni ng even before the mi ni ster comes out so you know that i t doesn’t matter how much you are gi ven, you wi ll need to drop somethi ng somewhere” (Male, R001). The type of trai ni ng we had i n those days as mi ni sters were qui te di fferent from these days, the noti on was that you serve the lord and he provi des for your needs, and the paradi gm has shi fted now so i t i s i ncumbent on the church to 137 University of Ghana http://ugspace.ug.edu.gh consi der i ncorporati ng reti rement trai ni ng for the trai ni ng of mi ni sters. The trai ni ng manuals should have topi cs on reti rement preparati on. (A028). The study found that some parti ci pants, knowi ng the i mportance of reti rement planni ng, buy books on thi s topi c to gui de them. They were, however, of the vi ew that regular trai ni ng on reti rement planni ng was essenti al because the package from the church duri ng reti rement i s i nadequate. Hence, there was the need for mi ni sters to acqui re certai n thi ngs before reti ring to mi ni mi ze thei r sufferi ng duri ng reti rement. The followi ng quotes buttress these poi nts: “There was nothi ng so what I  di d was that I  bought a book, prepari ng for a comfortable reti rement. That was what helped me to prepare. There i s nothi ng i n the Presbyteri an Church to prepare mi ni sters for reti rement” (R004). “The church should i nsti tute regular trai ni ng of mi ni sters on reti rement. Thi s wi ll help allevi ate the sufferi ng of reti red mi ni sters. Wi th the trai ni ng and constant remi nders i t wi ll enable mi ni sters to plan toward reti rement. When I  see reti red mi ni ster sufferi ng I  feel very bad because I  know one day I  wi ll also reti re and go through si mi lar ordeals” (A018). Besi des the mai n research questi ons, other fi ndi ngs that emerged from the study were the trai ni ng of the ordai ned mi ni sters on reti rement planni ng and ways to i mprove the reti rement preparati on among ordai ned mi ni sters of the Presbyteri an Church of Ghana 138 University of Ghana http://ugspace.ug.edu.gh 4.8 Factors Affecti ng Pre-reti rement Preparati on of Mi ni sters of the Presbyteri an Church of Ghana The study found that the mai n factors that affect preparati on towards reti rement are the allowance they recei ve, number of chi ldren, educati on attai nment of the chi ldren, trai ni ng on reti rement preparati on and church poli cy on reti rement. Although parti ci pants beli eved the allowance they recei ved for thei r servi ce to the church was i nadequate, they were of the vi ew that whatever planni ng one had to do wi ll have to depend on that amount. Hence, when the amount i s i ncreased i t would go a long way to i mprove the amount they wi ll set asi de for i nvestment toward reti rement as i llustrated: “The allowance we recei ve i s meagre but that i s the only money avai lable for you to plan your reti rement wi th. So, i f the amount i s good, you can take care of your i mmedi ate needs and reserve some towards i nvestment for your future” (A019). “ I n terms of the mi ni sters allowance i t i s woefully i nadequate compared to other churches even Methodi st”(A023). Another factor that affects reti rement planni ng i s the number of chi ldren and thei r educati onal level. To parti ci pants, one must take care of fami ly need before retirement. Hence, i f chi ldren are sti ll i n school i t affects the amount of di sposable i ncome that i s avai lable for i nvestment towards reti rement as i llustrated: “The educati on of my chi ldren i s my pri ori ty before accommodati on and health i nsurance needs” (A005). 139 University of Ghana http://ugspace.ug.edu.gh “I  have to make educati onal poli cy for my chi ldren, so i t i s bi t di ffi cult to have enough money to i nvest. So the number chi ldren and thei r educati onal level affects planni ng towards reti rement” (A009). “ I  have. Educati onal poli cy for my chi ldren”(A009). Trai ni ng emerged as a well-entrenched factor i n planni ng for reti rement. To parti ci pants, recei vi ng trai ni ng on reti rement i s essenti al for a successful reti rement. Thi s i s because one wi ll recei ve knowledge on vari ous forms of i nvestments and challenges i n reti rement. Thi s trai ni ng. i n the opi ni on of parti ci pants, i s requi red to prepare people psychologi cally, soci ally and fi nanci ally towards reti rement. The followi ng quotes i llustrate these poi nts: “There i s the need for church to organi ze trai ni ng on reti rement. Thi s wi ll help people plan and reduce the anxi ety associ ated wi th reti rement” (A013). “I  recei ved trai ni ng on reti rement and thi s help me a lot. I  am reti red but very comfortable because of the plan I  have put i n place fi nanci ally and soci ally” (R005). Generally, respondents were of the opi ni on that people who recei ve trai ni ng on reti rement planni ng are able to plan better and live a happier li fe than those wi thout trai ni ng. I n thei r vi ew, trai ni ng i s capable of reduci ng the anxi ety about reti rement. The followi ng quotes support these poi nts from parti ci pants: “I  am very happy duri ng reti rement because I  recei ved trai ni ng on reti rement palli ng and thi s helped me to plan better. I  have everythi ng I  need now. I  see 140 University of Ghana http://ugspace.ug.edu.gh some of my colleagues who did not plan li vi ng a mi serable li fe. They fai led to plan well because they di d not recei ve trai ni ng on i t” (R003). “I  attended a semi nar on reti rement planni ng and thi s has helped i n my planni ng towards reti rement. I  wi ll recommend that to all mi ni ster. When you see how some reti red mi ni sters are sufferi ng, you would li ke to put yourself i n that si tuati on. When you plan well you wi ll be happy duri ng reti rement and you do become anxi ous because reti rement i s getti ng near” (A003). Duri ng an i ntervi ew, management members indicated that they beli eved there was the need for trai ni ng of mi ni sters on reti rement and i t is i mportance i n reduci ng the fear and anxi ety surrounding the transi ti on from acti ve work to retirement. The followi ng quotes i llustrated these poi nts: “I  agree that we need to trai n mi ni ster about reti rement. Thi s wi ll help them prepare for i t and reti re i n peace and happi er. When you are not happy at the poi nt of reti rement, then i t wi ll be di ffi cult for you to happy duri ng reti rement” (M003). “I  beli eve adequate planni ng for reti rement wi ll make one happy duri ng reti rement and li ve a fulfi lled li ve. I t i s therefore i mportant we consi der that goi ng forward” (Male, M006) This confirms literature by Lusardi and Mitchell,(2017) and Mclean,(2012),which talks: income, Education, and number of dependents are factors that affect retirement planning and preparation. 141 University of Ghana http://ugspace.ug.edu.gh The findins confirm Greiner (2012), on contextual issues of retirement planning includes institutional factors like retirement policy, training programmes for successful retirement preparation. 4.9 Post-retirement Experi ence of Mi ni sters of the Presbyteri an Church of Ghana Generally, thi s study found that reti red mi ni sters suffer fi nanci al challenges despi te havi ng made some preparati on toward thei r reti rement. To parti ci pants, the monthly allowance gi ven to reti red mi ni sters i s meagre. Thi s leaves reti rees wi th i mmerse fi nanci al problems as i llustrated: “…the church i n a way has i ncreased the allowance i t gi ves to the reti rement mi ni sters. I t used to be very mi ni mal. Nothi ng to wri te home about. I f my memory serves me right, people could travel all the way from thei r stati ons or hometowns to Accra to recei ve somethi ng less than GHS 50.00” (Female, R005). “I  have a farm but that doesn’t yi eld much. I  wri te books also whi ch also generate a li ttle i ncome. I  also recei ve gi fts from people especi ally when I  go to gi ve a talk” (R003). Reti red mi ni sters on SSNI T i ndi cated that there was an i ncrease i n the monthly allowance although they sti ll beli eved i t was i nadequate to meet the fi nanci al demands duri ng reti rement. Those on the church pensi on schemes have had an i ncrease i n thei r monthly sti pends. The followi ng quotes support thi s poi nt: 142 University of Ghana http://ugspace.ug.edu.gh “…So I  came home wi th no obstacle about these areas. The pensi on allowance started from Gh150.00 and now i t i s Gh835.00. That i s the progressi on. I t has i mproved but i t i s sti ll small’ (R007). “….When I  came, no mi ni ster on pensi on was recei vi ng more than GHS 300 and all mi ni sters were on flat fi gure but we worked out sci enti fi cally and we went back on the number of years served and all that and we also brought up a poli cy that a mi ni ster wi ll reti re on 75% of hi s net salary. I t wi ll i nterest you to know that today, reti red mi ni sters are recei vi ng over GHS 1000. Some GHS 400, GHS 800, GHS 1000 dependi ng on the number of years served. So as far as fi nanci al preparati on i s concerned, the church for the past 6 years had gone far than i t used to be” (M002). I n vi ew of the fi nanci al challenges duri ng reti rement, many had to rely on the fami ly and chi ldren to meet thei r fi nanci al needs. Thi s emerged as key fi nanci al support base for all reti red mi ni sters i n thi s study. To parti ci pants i t was therefore very i mportant for mi ni sters to i nvest i n thei r chi ldren’s educati on and thei r fami ly as they may ulti mately become thei r fi nanci al source duri ng reti rement. The followi ng quotes i llumi nates thi s poi nt: “My wi fe i s not gai nfully employed but we have di scussed i t wi th the chi ldren that as we have laboured so much for them, they must also see us through duri ng our old age. So my chi ldren are acti vely i nvolved i n the rest of our li ves” (R007). 143 University of Ghana http://ugspace.ug.edu.gh “Most reti red mi ni sters rely on thei r chi ldren and fami ly for fi nanci al and other materi al thi ngs duri ng reti rement. I t would have been easy i f my chi ldren were not worki ng. My fami ly have been very supporti ve duri ng thi s peri od” (R008). “There are mi ni sters now who are planni ng towards home but what makes i t also di ffi cult i s when the mi ni ster has chi ldren who are sti ll at school. So there i s a competi ng i nterest whether to take your chi ldren to school, educate them. Some of the chi ldren are now medi cal doctors, i n gai nful employment and I  am aware of chi ldren who have bui lt and the parent are li vi ng there i n those houses” (M002). The study further found that reti red mi ni sters feel lonely soci ally and thi s, i n thei r opi ni on, has psychologi cal effects on reti rees. There was therefore the need for reti red mi ni sters to try and engage themselves i n church and communi ty acti vi ti es to ameli orate the loneli ness as i llustrated: “The i ssue of after reti rement i s not an easy one. When you are i n acti ve servi ce, you are always called upon, contacted and people calli ng you on phone. But as I  reti red, nobody even comes here to vi si t me. Even those who I  am stayi ng i n the same communi ty wi th. So, loneli ness i s the i ssue after reti rement. However, the stress of work has reduced after reti rement and I  have the i nterest of wri ti ng a book so thi s i s the ti me I  wi ll have to learn my i nterest area i n cause of confli ct i n marri age and resoluti on” (R003). 144 University of Ghana http://ugspace.ug.edu.gh “There i s loneli ness duri ng reti rement and i t affects you psychologi cally. You may have fi nanci al problems and also loneli ness. So that can affect you psychologi cally” (R001). Some parti ci pants engage i n recreati onal acti vi ti es to ward off the loneli ness and boredom duri ng reti rement as i llustrated by the followi ng quote: “I  am thi nki ng about mi ni stry for the elderly especi ally we those on reti rement and am very much i nterested i n gardeni ng so I  have made a consci ous effort to have a garden i n my house” (R008). “I  had knowledge of psychology and I  di d counselli ng. My wi fe has knowledge of psychology and she i s a fami ly li fe educator and counsellor. And honestly speaki ng, we have a lot of Chri sti an fri ends wi th who we have shared. We started from Scri pture Uni on level so we share our problems together and depend on the sci ence of psychology whi ch we have studi ed and appli ed i t on ourselves” (R005). A management member i n an i ntervi ew recommended that reti red mi ni sters form an associ ati on, whi ch could be used as a bargai ni ng i nstrument for reti rees. Thi s associ ati on could be used to engage mi nisters soci ally as i llustrated: “…but wi th the formati on of that associ ati on of reti red mi ni sters, we educate them on some of these topi cs and they could use that as bargai ni ng group” (M002). 145 University of Ghana http://ugspace.ug.edu.gh The study found that there was a di fference i n reti rement planni ng between men and women mi ni sters. However, some parti ci pant beli eved women may recei ve a hi gher package from the congregati on duri ng reti rement than men. It seems they had sympathy for women ministers. I n thei r opi ni on, the church considers females more than men as i llustrated: “Professi onally, they wi ll not be because i t i s the same treatment gi ven to the men that they wi ll also pass through. As at now, the few women who have gone on reti rement offi ci ally suffer the same fai th li ke the men but are better off from the other si de of the treatment. Thi s i s because i f a church i s seei ng off a woman on reti rement, the church contai ns larger number of women and they know the pli ght of the woman so they prepare better for the woman not to go and suffer the same as the man have suffered. Even some of them have been adapted and provi ded a house and other thi ngs” (R003). The study fi ndi ngs show that parti ci pants however beli eved males, who are often the head of the fami ly, have lead the reti rement planni ng process. Hence, males plan for reti rement better than females. Others were of the vi ew that women are generally good at savi ngs and therefore make more i nvestment toward reti rement than thei r men folks. The followi ng quotes support these contrary posi ti ons about gender dynami cs i n reti rement planni ng: “There i s di fference between reti rement preparati on between males and female. I  thi nk i t i s all about the atti tude of the person” (Male, A010). 146 University of Ghana http://ugspace.ug.edu.gh “I  beli eve that males prepare for reti rement better than female because they are the head of fami li es. So they often lead i n the planni ng for reti rement. Men are also more li kely to reti re earli er than women” (R004). 4.10 Ways to I mprove Reti rement Preparati on From the study, i t emerged that the absence of a reti rement plan among mi ni sters mostly leads to challenges duri ng reti rement. Parti ci pants were of the vi ew that the church should develop a poli cy on reti rement for workers of the church as well as mi ni sters. The followi ng quote i llustrates thi s poi nt: “I t i s a good suggesti on and a good research because i f we can do somethi ng about our reti rement plans, i t wi ll be very benefi ci al to mi ni sters because most of us when we go on reti rement the si tuati on i s very bad. I  have heard and seen Mi ni sters whose si tuati ons were very bad duri ng reti rement and shortly after retirement.” (A006). “I  thi nk ri ght from the date of entry, the church should thi nk of a poli cy where mi ni sters wi ll contri bute some amount of money toward reti rement” (A0021). “All that I  can say i s that the church should be mi ndful of mi ni sters i n mi ni stry because we are fulfi lli ng the mandate of Jesus Chri st. Go and make di sci ples and those who go and do that must also be taken care of. So, the church must be seen taki ng care of her mi ni ster very well, not only when they are acti ve i n servi ce but when they have also reti red. I  wi ll want to advi se that thi s project should come up wi th somethi ng that wi ll help the church. I t 147 University of Ghana http://ugspace.ug.edu.gh should come out wi th some recommendati ons for the church to work on i n that di recti on” (A020). Parti ci pants i n thi s study were of the vi ew that developi ng a reti rement poli cy was essenti al to ensure good preparati on towards reti rement. I n thei r opi ni on, the avai labi li ty of such a poli cy can help not only i mprove the quali ty of li fe of mi nsters after reti rement, but wi ll also moti vate them to accept posti ngs to any part of the country. “….And I  thi nk i f the churches have a good reti rement poli cy for everybody, everybody would li ke to go to where He or She i s posted to. Because i f they reali ze that the church has a good reti rement poli cy for them, they wi ll show commi tment for the church acti vi ti es” (A001). I n addi ti on, trai ni ng of Mi ni sters on reti rement emerged as one of the strategi es the Church could adopt to prepare them for reti rement. The followi ng quote i llustrates thi s: “We wi ll have to trai n all Mi ni sters on reti rement to prepare them well towards reti rement. We could make as part of annual semi nars. We have the human resources wi thi n the Church to handle thi s topi c and trai n mi ni sters on i nvestment towards reti rement. We also have counsellors who can counsel people before reti rement to prepare them i n all spheres such as psychologi cally, fi nanci ally, soci ally etc.” (M004). 148 University of Ghana http://ugspace.ug.edu.gh CHAPTER FI VE DI SCUSSI ON 5.1 I ntroducti on Thi s chapter di scusses the fi ndi ngs of thi s study. This di scussi on i s along the lines of the objecti ves that were set for the study and the conceptual frameworks. These objecti ves relate to psychologi cal preparati on for reti rement; fi nanci al preparati on for reti rement; and soci al preparati on for reti rement by ordai ned mi ni sters of the Presbyteri an Church of Ghana. The other objecti ves concern the factors affecti ng pre- reti rement preparati on and post-reti rement experi ences of ordai ned Mi ni sters of the Presbyteri an Church of Ghana. The fi ndi ngs of the study have been compared wi th studi es by other researchers. 5.2 Pre-Retirement Planning Training Programmes As discussed early on in the literature review, it was found that most Ordained Pastors either engaged in formal training by way of seminar, forum, conferences or informal training such as discussing with family members, colleague pastors, and friends. This supposition is in agreement with Noone (2011) who posited that pre-retirement preparation may be undertaken officially through seminars, conferences, Church Programmes etc. or informally through discussions with partners or colleague pastors, reading, and talking with friends about retirement. It encompasses both financial preparation as well as preparation for the spiritual, psychosocial and physical changes, such as changes in social status, identity, health, leisure, and family and marital relationships. 149 University of Ghana http://ugspace.ug.edu.gh Similarly, Singleton (1985) suggests that those who participated in pre-retirement preparation were more likely to report greater wellbeing in retirement. In view of this, it is recommended that retired Ministers actively participate in retirement training programmes, be it formal or informal training programmes. Dorfman (1989) opines that psychological preparation could include discussing retirement with fellow workers, family members, and retired persons (informal), as well as obtaining material and information on retirement. Family members (formal sources) play important roles in the processes of retirement planning. This proposition reiterates that training programmes remain hypostatic in enhancing effective retirement awareness among pastors. Evidence suggests that individuals who discuss their retirement plans with family members and other relatives appear psychologically more cognizant of the approaching termination of employment than those who do not (Atchley, 1976). Similarly, individuals who are regularly involved in retirement education and counseling programmes are likely to be better adjusted in retirement than individuals who are not psychologically prepared (Dorfman, 1989). Similarly, Fisher, (2006) confirms that adequate institutional arrangements, packages and training programmes enhances Ministers planning and preparation for their retirement. 150 University of Ghana http://ugspace.ug.edu.gh 5.3 Fi nanci al Preparati on for Reti rement: Type, Barri ers and Effects on Li fe after Reti rement The study found that parti ci pants made some form of fi nanci al preparati on towards reti rement. Some of the preparati ons were acqui ri ng landed properti es such as houses for rental, buyi ng of shares i n compani es and treasury bi lls. Others started thei r own busi ness as a form of securi ty towards reti rement. This type of planni ng, as found i n thi s study, is not uni que with respect to the general populati on as earli er studi es have reported si mi lar fi ndi ngs (Farhi  & Panageas, 2007; I brahi m & Wahat, 2015; Louche, Arenas, & van Cranenburgh, 2012). However, the planni ng i s often undermi ned by the meagre allowances that are gi ven to Mi ni sters. The meagre nature of the allowance makes i t di ffi cult for parti ci pants to be able to cater for thei r dai ly fi nanci al demands and to make some savi ngs towards reti rement. I n thi s study i t emerged that some reti red mi ni sters encounter fi nanci al challenges as a result of not bei ng able to plan towards reti rement. As a result of the meagre allowances gi ven to acti ve Mi ni sters, i t makes i t di ffi cult for some of them to properly plan and prepare for successful reti rement. Agai n, some acti ve mi ni sters may be compromi sed by the fi nanci al admi ni strati on of the Church. It may be argued that, someti mes, the ti me they need to do mi ni stry work li ke prayi ng for the congregants and vi si tati on, is spent engaging i n other i ncome generati ng acti vi ti es to make ends meet. The negati ve experi ence of people who have reti red was a source of anxi ety for acti ve mi ni sters. Thi s anxi ety, i n the vi ew of soci al cogni ti ve theori es, often occurs when one anti ci pates an undesi rable si tuati on i n the future (Bandura, 1999): i n thi s case 151 University of Ghana http://ugspace.ug.edu.gh challenges duri ng reti rement. Thi s negati vely affected acceptance of Mi ni sters to work i n rural areas. I n the vi ew of parti ci pants, worki ng i n urban areas has more fi nanci al benefi ts than working i n rural areas. Thi s, therefore, requi res better planni ng towards reti rement. Thi s anxi ety had i mpli cati ons on the psychologi cal preparati on and work of mi ni sters and thei r atti tude towards reti rement. The se fi nanci al challenges make mi ni sters anxi ous about reti rement whi lst those who have reti red wi sh they had not reti red. Adequate fi nanci al planni ng i s essenti al i n reduci ng the uncertai nty associ ated wi th reti rement (Brown & Graf, 2013; Moffatt & Heaven, 2017). As noted, reti rement i s often met wi th mi xed feeli ngs for reti rees and these feeli ngs are largely not uni versally shared, but rather are relati ve to the i ndi vi dual but good fi nanci al preparati on reduces negati ve feeli ng (Damman et al., 2011; Di ngemans & Henkens, 2014). Expected decli ne i n i ncome and how to cope wi th i t affects an i ndi vi dual’s atti tude towards reti rement (Poterba, Venti , & Wi se, 2009). I n the researcher’s vi ew, i f the mi ni sters are taken through reti rement planni ng and preparati on earli er in their li fe i n servi ce they would be able to better prepare for reti rement any take away some of the anxi ety associ ated wi th reti rement. I n the book of Deuteronomy 28:3 “Blessed shalt thou be i n the ci ty, and blessed shalt thou be i n the fi eld. The i ssues of bei ng aware that one day you would reti re and so you need to plan towards i t. I f a mi ni ster works i n the ci ty he/she can recei ve much more blessi ng li kewi se i n the rural areas but to reti re successfully largely depends on the i ndi vi dual and hi s or her organi sati on. 152 University of Ghana http://ugspace.ug.edu.gh I n thi s study, all parti ci pants had made one form of fi nanci al preparati on or another. Thi s i s contrary to the fi ndi ngs that i n Hong Kong, 42% of workers do not save pri vately for thei r reti rement. However, age, educati on, number of chi ldren, support from spouse and fri ends, soci al regulati on, percei ved fi nanci al knowledge, and fi nanci al management capaci ty are associ ated wi th engagement i n pri vate reti rement savi ngs (Chou et al., 2014). Both fi nanci al and psycho-soci al planni ng are i mportant for wellbei ng i n reti rement. Longi tudi nal research based on the US Health and Reti rement Survey shows that fi nanci al and psycho-soci al planni ng are the two largest contri butors to sati sfacti on and health i n reti rement, after taki ng i nto account health status, reason for reti rement and i ncome (Noone, 2011). I n the study i t was evi dent that some acti ve mi ni sters have consci ously made some fi nanci al preparati on, whi ch i ncludes the buyi ng of treasury bi lls and bonds, and bui ldi ng houses that they would rent to generate some i ncome when they reti re: thi s has gi ven them some ki nd of hope for thei r reti rement. So i f all acti ve mi ni sters have i nformati on and knowledge on the best form of i nvestment I  am qui te sure that they would be to able plan and prepare well fi nanci ally towards reti rement. The acti ve mi ni sters who took advantage of the Provi dent Fund made avai lable by the Management of the Church would reap some benefi ts when they reti re from acti ve mi ni stry. The reti rees who were able to prepare successfully are enjoyi ng thei r reti rement li fe more than those who di d not prepare well. Finfings from the study agrees with life cycle theory by Jappelli and Modigliani, (2005) who postulated that people should optimize utility of future spending, emphasizing on the fundamental motive for saving to accumulate resources for future consumption 153 University of Ghana http://ugspace.ug.edu.gh during retirement. Similarly, resource dependant theory by Pfeffer and Salacik, (1978) confirms the findings on financial preparation of Ordained Ministers, (Muratore & Earl, 2015). 5.4 Psychologi cal Preparati on for Reti rement The fi ndi ngs of the study showed that all parti ci pants had made some level of psychologi cal preparati on towards reti rement. The type of preparati on vari ed across i ndi vi duals. Thi s preparati on i nvolved psychologi cal preparati on at the i ndi vi dual level and the fami ly as a whole. Generally, parti ci pants were of the vi ew that reti rement usually comes wi th a lot of boredom and changes from an i ndi vi dual acti vi ty of dai ly li vi ng. To that end, some form of psychologi cal preparati on was requi red to make a good transi ti on. The study found that one form of psychologi cal planni ng parti ci pants i n thi s study employed was to develop themselves i n thei r area of experti se where they can conti nue to provi de that servi ce as a pri vate job duri ng reti rement. Some respondents psyched thei r mi nds and the mi nds of thei r fami li es towards reti rement and thi s helped to mi ti gate psychologi cal trauma duri ng reti rement. Thi s proposi ti on subscri bes to Wang, Henkens, and van Soli nge's (2011) rei teration that psychologi cal preparati on for reti rement i s a complex psychologi cal process. Key consi derati on around thi s phase i ncludes a deci si on to ei ther reti re or not fully engage i n post-reti rement jobs. 154 University of Ghana http://ugspace.ug.edu.gh The transi ti on stage, on the other hand, i s often based on when and how the i ndi vi dual wi ll eventually go on reti rement (Ri chardson, 1992). Thi s asserti on supports the proposi ti on of Wahrendorf, Dragano, and Si egri st, (2013) who posi ted that psychologi cal preparati on for reti rement was i ni ti ally conceptuali zed as a mental process that entai led thi nki ng and readi ng about reti rement, and talki ng about i t wi th fami ly members and colleagues. Thi s i ni ti al phase starts wi th employees conceptuali zi ng the general possi bi li ty of reti rement. Hi s vi ew i s i n contrast wi th Shultz and Wang (2011) who found that unfavorable atti tudes toward reti rement were associ ated wi th an absence of reti rement planni ng and fai lure to seek i nformati on about reti rement, whi ch i n turn were related to unsuccessful adaptati on to reti rement. The findings in the study of Ordained Ministers on psychological preparations confirms the social cognitive theory by (Bandura, 2004; Fisher, 2006). 5.5 Soci al Preparati on Towards Reti rement The study found that one major soci al preparati on that parti ci pants made was to bui ld a house for thei r household. Many of the parti ci pants i ndi cated that they were li vi ng in a resi dence owned by the church. Hence, they wi ll be expected to leave the resi dence after reti rement. I t was therefore i mportant to plan on where to li ve wi th thei r fami ly after reti rement. 155 University of Ghana http://ugspace.ug.edu.gh Addi ti onally, some parti ci pants were of the vi ew that they would conti nue to render servi ces to the church and communi ty to make them soci ally relevant. Another soci al preparati on that was made by parti ci pants who were i n touch wi th the church at thei r home town. Thi s was done to establi sh some rapport wi th the church so that they can be engaged there after reti rement when they move to thei r hometown. Another form of soci al preparati on was to ensure that one’s chi ldren recei ved the best of educati on or are worki ng. Thi s was done to ensure they become responsi ble, marry and gi ve bi rth to chi ldren so that the respondents can be taki ng care thei r grandchi ldren. The findings on Ordained ministers on social preparations affirms the social cognitive theory by (Bandura, 2004; Graiser, 2012) 5.6 Fami ly Support and Reti rement Among Mi ni sters The study found that reti red Mi ni sters reli ed on fami ly support to meet thei r dai ly fi nanci al and soci al needs. Although i t was reported that fami li es are gradually becomi ng nucleated i n Ghana thereby breaki ng the fami ly system that served as a form of soci al protecti on duri ng reti rement and old age (Nukunya, 2009), thi s study found that the extended fami ly system i s sti ll relevant for Mi ni sters. Apt (2002) argued that, despi te the pressures from globali zati on and urbani zati on, the fami ly i n Afri ca conti nues to play a central role as an establi shed provi der of old age securi ty and the fi ndi ngs of thi s study i s si mi lar i n thi s regard. Fami ly structure have been found to 156 University of Ghana http://ugspace.ug.edu.gh determi ne the ti mi ng of an i ndi vi dual’s wi thdrawal from the labour market (reti rement), (Madero-Cabi b, Gauthi er, & Le Goff, 2015). Parti ci pants i n thi s study clearly i ndi cated the need for one to i nvest i n fami ly as they wi ll later form the securi ty duri ng reti rement. I nvesti ng i n fami ly emerged as a key consi derati on i n reti rement planni ng. I n thi s study, some acti ve mi ni sters had acqui red an educati onal scheme for thei r chi ldren as a form of securi ty for thei r future. However, gi ven the fact that the monthly allowance gi ven to them i s meagre, i t undermi ned i nvestment i n chi ldren. Gi ven the i mportance of chi ldren duri ng reti rement, it may be i mportant for the church to develop a poli cy on educati onal schemes for servi ng mi ni sters. Chi ldren can provi de soci al securi ty i n old age as they act as a form of resource that reti rees can depend on, accordi ng to the resource dependent theory (Barbi er, 2010). Reti red women i n South Afri ca have been reported to depend on support from thei r chi ldren to mi ti gate poverty after reti rement (Si dloyi  & Bomela, 2016). I n the si tuati on where the chi ldren of the reti red mi ni ster abandon them or they have an uncompromi si ng husband or wi fe, li fe duri ng reti rement wi ll be very frustrati ng to the reti red mi ni ster. This is likewise the situation where the chi ldren of the reti red mi ni ster are not well resourced or worki ng. a. Effects of Proper Planni ng and Preparati on Thi s study found respondents who had planned for reti rement to be generally happy wi th thei r reti rement. They are able to cater for fi nanci al demands on them duri ng reti rement. Earli er studi es have reported that planni ng for reti rement was posi ti vely 157 University of Ghana http://ugspace.ug.edu.gh correlated wi th li fe sati sfacti on and a decrease i n depressi on among reti rees (Hershey, Jacobs-Lawson, McArdle, & Hamagami , 2007; Lee & Law, 2004). Mi ni sters who are able to properly plan and prepare for a successful reti rement would not experience frustrati ons, anxi ety, over-reli ance, lack of respect, mental agony and lost opportuni ti es. There i s a wi se sayi ng that states “make hay whi le the sun shi nes”. The results of the study show that people who had prepared psychologi cally for their reti rement were generally happy wi th li fe after reti rement. They engage i n other acti vi ti es i ncludi ng church acti vi ti es after reti rement. Psychologi cal preparati on contri butes substanti ally to the reti rement planni ng process (Hershey et al., 2007). Pre-reti rement planni ng was found to be predi cti ve of changes i n psychologi cal health wi th greater psychologi cal planni ng associ ated wi th posi ti ve atti tudes toward reti rement and better psychologi cal well-bei ng whereas more soci al li fe planni ng acti vi ti es were associ ated wi th greater psychologi cal di stress (Yeung, 2013). Some reti rees appear to be happy; others, on the contrary, were uncomfortable wi th all the ti me at thei r di sposal coupled wi th soci al i solati on (Dubé, Lapi erre, Bouffard, & Alai n, 2007). Reti rees may adopt a di fferent li festyle because of thei r new roles and emergent new needs. Thi s means that reti rement i s far from bei ng a si ngle one stop transi ti on but rather more of an adjustment process that spans over ti me (Nahum-Shani  & Bamberger, 2011). A systemati c revi ew of studi es on mental functi ons duri ng reti rement showed a general decli ne i n cogni ti ve functi on. Thi s decli ne has been 158 University of Ghana http://ugspace.ug.edu.gh attri buted to the decrease i n regular earni ngs and soci al demands (Meng, Nexø & Borg, 2017). Thi s rei nforces the need for psychologi cal preparati on for reti rement. b. Accommodati on I ndi spensable i n Reti rement Reti rement vi llages are a resi denti al envi ronment desi gned to meet some of the support needs of older people. They offer smaller, manageable housi ng, as well as a resi denti al envi ronment supporti ve of the changi ng needs of older li fe. The study found that mi ni sters who are unable to put up thei r own accommodati on have to rely on fami ly or li ve i n a rented apartment duri ng reti rement. To ameli orate thi s si tuati on, the church has tri ed to assi st or bui ld houses for those mi ni sters who reti re wi thout accommodati on. Accommodati on duri ng reti rement i s therefore i ndi spensable for reti rees. When requi rements such as accommodati on i s unmet by the reti red i ndi vi duals, i t makes thei r li fe di ffi cult and further exacerbate thei r old age health problems (Praveen et al., 2016). I n developed countri es, reti rement vi llages are put up. These type of arrangement are necessary to provi de soci al support for reti rees and could be adopted by the church. Hence, the church can put up houses at desi gnated places for thei r reti red mi ni sters. For example, approxi mately 3% of older Australi ans li ve i n a reti rement vi llage where they can i nteract as a soci al group and recei ved soci al support from thei r peers (Australi an Bureau of Stati sti cs, 2009). A study found that expectati ons and soci al support consi stently and si gni fi cantly predi cted sati sfacti on early and later i n reti rement (Taylor, Goldberg, Shore, & Li pka, 2008). 159 University of Ghana http://ugspace.ug.edu.gh Findings confirms literature on social cognitive theory by Bandura, (2004), Fisher, (2006) and Graizer, (2012). c. Reti rement Preparati on and Gender Thi s study fou nd di fference i n preparati on for reti rement between males and female. However, some were of the opi ni on that females were more li kely to recei ve more gi fts duri ng reti rement. I t has been reported that both men and women have si gni fi cantly greater chances of prepari ng for thei r reti rement (Ekerdt, 2010). Thi s notwi thstandi ng, si ngle women tend to choose more conservati ve i nvestment allocati ons i n thei r reti rement accounts than do si ngle men. However, wi thi n marri ed households, no si gni fi cant gender di fferences i n asset allocati on were found (Lancaster & Raj, 2009). Nonetheless, some di fferences have been reported duri ng post reti rement. Research conducted by Moen, Ki m and Hofmei ster (2001), showed that reti red men whose spouses were employed reported the hi ghest mari tal confli ct; whi le reti red men whose spouses were not employed reported lower levels of confli ct i n thei r marri ages (Moen, Ki m, & Hofmei ster, 2001). I n South Afri ca, women duri ng pensi on were reported to be 30% less li kely to be healthy than men (Schatz, Gómez-Oli vé, Ralston, Menken, & Tollman, 2012). d. Trai ni ng and Orientati on on Reti rement The study found that respondents who recei ved trai ni ng on reti rement planni ng had planned for reti rement. Other respondents recogni zi ng the i mportance of trai ni ng on reti rement attended personal semi nars and purchased books to help them plan and prepare for thei r reti rement. Despi te i ts i mportance to preparati on for reti rement, thi s study found that i t was currently not gi ven a pri ori ty i n the acti vi ti es of the church. 160 University of Ghana http://ugspace.ug.edu.gh Consequently, some mi ni sters reti re wi thout adequate preparati on and have to engage i n post-reti rement employment as a survi val strategy, when reti red one becomes ti red, weak and exhausted but wi ll work li ke i n acti ve servi ce. Rest i s really essenti al i n old age. An early study reported that households seem to lack the fi nanci al knowledge to cope wi th these deci si ons, i ncludi ng how to save and i nvest adequately for reti rement because of lack of formal ori entati on i n the Netherland (Van Rooi j et al., 2011a). I t i s beli eved that when a mi ni ster does not plan and prepare very well for reti rement, i t i s not li kely that the mi ni ster would enjoy a successful reti rement, but when the mi ni ster plans and prepares well for reti rement, the mi ni ster i s li kely to enjoy a successful reti rement. The researcher beli eves that when adequate ori entati on i s gi ven to reti rement on reti rement planni ng and preparati on thi s would enhance a better reti rement plan i n thei r future. From the study, the contextual i ssues i denti fi ed have been put i nto a modified framework (Fi gure 4). From thi s fi gure, the church had no formal poli cy on reti rement and leaves the deci si on to plan for reti rement in the hands of i ndi vi dual mi ni sters. There are no formal structures and trai ni ng of mi ni sters on reti rement. However, mi ni sters are gi ven a package duri ng reti rement, whi ch was generally descri bed as i nadequate. Tent mi ni sters who contri bute to nati onal i nsurance scheme are however enti tled to the benefi ts of the scheme. Some forms of preparati on are bei ng done fi nanci ally, soci ally and psychologi cally. However, fi nanci al preparati on are often undermi ned by the meagre allowance gi ven to mi ni sters. Soci ally, the bui ldi ng of one’s house was very essenti al preparati on for 161 University of Ghana http://ugspace.ug.edu.gh reti rement to avoi d challenges and controversi es duri ng reti rement. Despi te thi s, some mi ni sters do not plan for thei r reti rement and face several challenges li ke mental agony, loss of self-esteem, frai lness among others. To ci rcumvent these challenges some take up post-reti rement jobs and have to rely on fami ly members for survi val as shown on figure 4. In this modified framework from Greiner (2012), the result of adequate planning and preparation towards retirement would yield secure livelihood, sustained retirement life with enough resources towards fulfilled life and stable mind for good health and successful adjustment. 162 University of Ghana http://ugspace.ug.edu.gh Financial Preparation  Building of estates  Buying of shares  Treasury bills  Educational policy for children Institutional factors Effect in retirement  Retirement Policy Experience during preparation  SSNIT Contributions retirement  Anxiety about retirement  Training policy on retirement  Financial challenges  Poor preparation toward planning  Inability to build own retirement  Salaries and allowance residence  Unwilling to work in rural  Loneliness and deprived areas  Unhappiness Social Preparation  Rely on family for  Building of house for upkeep family  Post retirement jobs  Linking with church at home  Educating children  Providing support to family Effects of Adequate Retirement Preparation  Security Psychological Preparation  Stability  Involvement of family  Fulfille retirement members  Sustainability  Counselling  Successful retirement Fi gure 6: Modified Contextual Issues on Reti rement Planni ng. Source: Grei ner (2012) 163 University of Ghana http://ugspace.ug.edu.gh e. Strengths and Li mi tati ons of Study As an enti re quali tati ve study, i t i s i mportant to bear i n mi nd some strengths and li mi tati ons of the study to be able to contextuali ze the conclusi ons. The strength of thi s work li es i n the depth of the accounts that was provi ded by both acti ve and reti red respondents i n the study. Members checki ng through replayi ng recorded audi os and transcri pts wi th respondents to veri fy the fi ndi ngs. The study followed the methodologi cal requi rements for a quali tati ve study with respect to the appropri ateness of quali tati ve method, transparency of procedures, and soundness of the i nterpreti ve approach (RATS) checkli st (Clark, 2003); and followed accepted practi ce i n fi eldwork, analysi s and i nterpretati on (Barbour, 2003). The sample i ncluded more men than women, a common phenomenon that generally reflected the si tuati on i n the church, which has more male Mi ni sters. However, the fi ndi ngs on planni ng and preparati on for pensi on have shown that i t varies across cultures and nati ons. Thi s mi ght suggest that the fi ndi ngs may be more appli cable to the Ghanai an context. Despi te thi s, the overarchi ng themes deri ved from thi s study i s that there i s the need for a pensi on poli cy for Mi ni sters and planni ng for reti rement i s i ndi spensable and must be pri ori ti zed. 164 University of Ghana http://ugspace.ug.edu.gh CHAPTER SI X SUMMARY FI NDI NGS, CONCLUSI ON AND RECOMMENDATI ONS 6.1 I ntroducti on Thi s study employed a quali tati ve approach to assess reti rement preparati on among Mi ni sters of the Presbyteri an Church of Ghana. Purposi ve sampli ng was used to recrui t 28 Mi ni sters who are sti ll i n acti ve servi ce, fi ve management members and ei ght reti red Mi ni sters. The i ntervi ews were audi o-recorded and transcri bed verbati m. Respondents were gi ven pri or noti ce of the recordi ng to ensure ethi cal requi rements. The transcri pts were i mported i nto NVi vo 11 for analysi s. The ulti mate questi on one i s tempted to ask i s: To what extent does the Ordai ned Mi ni sters of the Presbyteri an Church of Ghana plan and prepare for thei r reti rement? The ai m was to gai n an understandi ng of the mechani sms Ordai ned Mi ni sters of Presbyteri an Church of Ghana adopt to prepare for thei r reti rement li fe. The speci fi c objecti ves of the research were to: 1. Determi ne the psychologi cal preparati on of Ordai ned Mi ni sters of the Presbyteri an Church of Ghana; 2. I denti fy fi nanci al preparati on strategi es of Ordai ned Mi ni sters of the Presbyteri an Church of Ghana towards reti rement; 3. Explore the soci al preparati on of Ordai ned Mi ni sters of the Presbyteri an Church of Ghana towards reti rement; 165 University of Ghana http://ugspace.ug.edu.gh 4. I denti fy factors that affect reti rement planni ng of ordai ned Mi ni sters of Presbyteri an Church of Ghana; and 5. Explore post-reti rement experi ences of ordai ned Mi ni sters of the Presbyteri an Church of Ghana. 6.2 Purpose of Study and Methodology The research is on retirement preparation of Ordained Ministers of Presbyterian Church of Ghana. The purpose of the study was to explore issues on retirement preparation of Ordained Ministers of Presbyterian Church of Ghana. The fundamental objective of this study was to examine retirement preparation among Ordained Ministers of the Presbyterian Church of Ghana. The population of Ordained Ministers in the Presbyterian Church who were in Active Service and have Ten (10) years or less to retired at the time of study were 280. Retired ministers who have retired five (5) years or less were 80 and five (5) top management officials were selected from the General Assembly Office of the church. Sample size for Ordained Ministers in active Service was twenty-eight (28) ministers and eight (8) retired ministers due to saturation and five (5) top management officials. The retired ministers were used as a guide and reflection. Sampling Technique was Purposive Sampling and data collection was in-depth interview through face to face and telephone interview were the two strategies used. The Data Collection Tool was un-structured interview guide. The interviews were recorded and transcribed verbatim and transcripts were imported in Nvivo 11 for themes. Data analysis was done through Thematic Analysis by Braun and Clarke (2006) prescribed six steps to carry thematic analysis. The researcher found out that the practice of planning was greatly contingent on the type of Ordained Ministers and their monthly allowance they received. The part time or (Tent) Ordained Ministers who 166 University of Ghana http://ugspace.ug.edu.gh worked as professionals and performed additional Ministerial duties in the church were entitled to National Pension Schemes. 6.3 Summary of Fi ndi ngs The mai n fi ndi ngs of the study i nclude: 1. The church does not have a poli cy on reti rement and reti ri ng mi ni sters are gi ven a package, whi ch varies amongst mi ni sters. 2. Mi ni sters make i nvestment i n landed properti es, buyi ng shares and treasury bi lls as form of fi nanci al preparati on towards reti rement. Others wrote books to safeguard thei r fi nanci al status whi lst i n reti rement. 3. Psychologi cal preparati on toward reti rement was a major challenge that negati vely affected mi ni sters duri ng reti rement. 4. Soci ally, Mi ni sters bui lt thei r own houses and plan to sti ll engage in church acti vi ti es after reti rement. Such post reti rement engagements i ncluded settli ng i n thei r home towns, engagi ng i n counseli ng servi ces among others. 5. Reti red Mi ni sters reported feeli ng lonely duri ng reti rement and some engaged i n recreati onal acti vi ti es to ward off the boredom duri ng reti rement. 6. Fami ly support i s very essenti al to meet fi nanci al demands duri ng reti rement. 6.4 Conclusi on Based on the results of thi s study, i t can be concluded that, i f there i s lack of planni ng on the part of a mi ni ster who i s i n acti ve servi ce before reti rement, i t would lead to anxiety, social exclusion, loneliness and destitution. In the same view, the study concluded that 167 University of Ghana http://ugspace.ug.edu.gh Preparation of the Minister varies based on: Individual orientation and world view, the environment or society in which one finds oneself, institutional support for the future of the minister available information and education on retirement, financial status throughout the work period - thus the lower the financial status during the working period the more likely it will affect preparation towards retirement. Persons who are about to retire seem to be more prepared towards retirement than those already on retirement. While the Church has made little effort at addressing retirement issues and packages for the ministers. Futhermore, transition to the retirement period is the most critical period in the life of the minister and therefore while in transition ministers should make a conscious effort to plan for their future. The individual preparation of ministers on retirement surpasses that of the church. The Presbyteri an Church does not have a poli cy on reti rement for Mi ni sters and thi s made planni ng for reti rement challengi ng for mi ni sters. Mi ni sters make some i nvestment towards reti rement. Psychologi cal planni ng for reti rement was i nadequate wi th negati ve consequences on reti red mi ni sters. Acqui ri ng personal accommodati on and i nvesti ng i n thei r chi ldren’s educati on were the mai n soci al preparati on made by mi ni sters. Reti red mi ni sters had fi nanci al challenges and were lonely. However, trai ni ng on reti rement planni ng was deemed essenti al for effecti ve planni ng for reti rement. Reti red mi nsters who have planned thei r reti rement were beli eved to be happi er and had less fi nanci al challenges. 168 University of Ghana http://ugspace.ug.edu.gh 6.5 Recommendati ons Based on the fi ndi ngs and the conclusi ons above, the followi ng recommendati ons are made; 1. The General Assembly Offi ce of the Presbyterian Church of Ghana must ensure that all newly Ordai ned Mi ni sters recei ve trai ni ng on reti rement planni ng and preparati on when they are recrui ted i nto the mi ni stry. I t i s further recommended that a mi ni ster’s date of reti rement i s attached to hi s/her appoi ntment letter i n order to keep the reti rement date i n mi nd ri ght from the very begi nni ng of one’s worki ng li fe. 2. Reti rement planni ng and preparati on programmes need to take account of personal, household and work exi t factors, recogni zi ng the uncertai nti es and conti ngenci es that can and do affect reti rement planni ng and preparati on. 3. Housi ng schemes should be i nsti tuted by the Church to assi st Mi ni sters to acqui re thei r own houses before reti rement. 4. The Church must develop a poli cy for reti rement for its vari ous workers. Thi s i s requi red to gui de Mi ni sters and other workers to plan and prepare for reti rement. 5. The exi s ti ng Provi dent Fund, i nsurance scheme for full-ti me Mi ni sters should be extended to the tent Mi ni sters. The Church should take the SSNI T contri buti ons of i ts Mi ni sters seri ously as a way of planni ng for the Mi ni sters who sacri fi ce thei r all for God’s flock. 169 University of Ghana http://ugspace.ug.edu.gh 6. There should be a scholarshi p package for chi ldren of Mi ni sters who accept posti ngs to depri ved i n mi ni stry. 7. The Church i s encouraged to develop a reti rement planni ng manual that would be used to teach reti red Mi ni sters duri ng semi nars. 8. The researcher used 28 respondents and the study was pri mari ly based on pri mary data i n the form of admi ni steri ng questi onnai res and i ntervi ews. Other reserachers were encouraged to repli cate thi s usi ng secondary data or both as well as the mi xed method to ascertai n the veraci ty and veri si mi li tude of the fi ndi ngs of thi s study. 6.5.1 I mpli cati ons of the Study for Adult Educati on Practi ce The findings from this study would help adult educators in planning and designing curriculum on retirement planning. Also, it will help to educate the Ministers and even those in andragogical and theological studies for better future retirement policy formulation, training programmes. It will as well enhance adult psychology and adjustment after retirement; and create room for organizational learning. 6.5.2 I mpli cati ons of the Study for Human Resource Development The General Assembly office of the Presbyterian Church of Ghana should develop a policy for the Ministers and other workers in the Church to give them enough information on retirement preparation to enhance their retirement. When the policy is developed it will help individuals to realise their rights, responsibilities and rewards due them after the end of their service. Satisfied conditions of service would lessen the 170 University of Ghana http://ugspace.ug.edu.gh temptation of dipping hands into Church funds. Satisfied condition of service would increase productivity. 6.5.3 I mpli cati ons of the Study for Advocacy Ministers and other workers in the Church should be oriented to know their rights and responsibilities and to demand better conditions of service during and before retirement. The General Assembly should develop a manual on retirement planning and preparation and make it available to members; and resource persons should be occasionally invited to speak on the topic of retirement. Ministers should, from time to time, blend their sermons with topics on retirement planning and preparation. During generation group meetings in the Church, members should be taken through retirement planning and preparation. 6.5.4 Contribution to Knowledge My research fills the gap of the lack of sufficient literature addressing ministers’ challenges before retiring from the Parish. I am developing a working tool or manual for training ministers and church worker on retirement planning and preparation for a better retirement in future. The research will add to existing knowledge by contributing to the conceptual framework of Greiner (2012). 6.5.5 Areas for Further Studi es From the study conducted the researcher suggests further studi es can be conducted i n pertainent areas that this studi es di d not cover: 171 University of Ghana http://ugspace.ug.edu.gh 1. Reti rement adjustment preparati on of ordai ned mi ni sters of the Presbyteri an Church of Ghana. 2. Copi ng strategi es of ordai ned mi ni sters of the Presbyteri an Church of Ghana. 3. Job sati sfacti on among acti ve, full-ti me and tent ordai ned sati sfacti on. 4. The topi c can be repli cated to cover other workers i n the Presbyteri an Church of Ghana. 6.5.6 General Recommendati ons  Ordai ned mi ni sters, especi ally those under the SSNI T pensi on scheme are advi sed to start planni ng for thei r reti rement i mmedi ately they start worki ng. They are advi sed to i nvest and save towards reti rement early i n li fe and should make more enqui ri es about reti rement i nvestment packages they can partake in. Thi s i s mai nly because the SSNI T pensi on i s i nadequate as was evi dent from the study, and most pensi oners hardly save duri ng worki ng li fe for reti rement.  The Presbyteri an Church of Ghana should organi ze quarterly semi nars and fora for ordai ned mi ni sters on the need to undertake reti rement planni ng as well as the vari ous forms of reti rement packages avai lable. The General Assembly Office is encouraged to put in place a policy on retirement preparation to orient all newly recruited ministers. Retirement planning and preparation programmes should be comprehensive and take into account the housing scheme, package, work exit factors, and scholarships for ministers accepting postings to deprived areas. The existing Provident Fund insurance scheme for full-time Ministers should be extended to the part-time or tent Ministers. The Church should have quarterly 172 University of Ghana http://ugspace.ug.edu.gh seminars, fora and workshops for ministers and all church workers on retirement planning and preparation for successfull retirement in future. The fi ndi ngs of the study suggest the followi ng copi ng strategi es for mi ni sters of the Presbyteri an Church of Ghana and other workers who are i n acti ve servi ce. Before the mi ni sters reti re they should plan and learn some of the acti vi ti es li sted below to help them to be acti ve and take away boredom and loneli ness duri ng thei r reti rement peri od: 1. Shari ng experi ences wi th the younger generati ons i n the Church and the communi ti es they fi nd themselves on how to plan and prepare for successful reti rement. 2. Provi di ng gui dance and counselli ng servi ces to the generati onal groups i n the Church, for example women, men, young adult, youth fellowshi p and chi ldren servi ce among others. 3. The reti red mi ni ster could be i nvi ted to be a resource persons duri ng semi nars, church durbars, conference, and workshops to talk on reti rement planni ng i ssues i n the Church. 4. Encourage the start up of small scale busi ness duri ng reti rement e.g. Bati k, ti e and di e, bead maki ng, beekeepi ng, mushroom farmi ng etc.. Thi s would keep them acti ve duri ng reti rement and also as ameans of supplementing their income. 5. The reti red mi ni ster could be i nvi ted as a motivational speaker to speak on reti rement planni ng benefi ts duri ng symposi a and anni versari es i n the Church. 6. The reti ree could be encouraged to i nvolve themselves i n gardeni ng recreati on to keep them acti ve. 173 University of Ghana http://ugspace.ug.edu.gh REFERENCES Adam, K. 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(2012) ‘Rules of Thumb i n Li fe-cycle Savi ng Deci si ons’, Economi c Journal, 122(560), pp. 479–501. doi : 10.1111/j.1468-0297.2012.02502.x. Wong, J. Y. and Earl, J. K. (2009) ‘Towards an i ntegrated model of i ndi vi dual, psychosoci al, and organi zati onal predi ctors of reti rement adjustment’, Journal of Vocati onal Behavi or, 75(1), pp. 1–13. doi : 10.1016/j.jvb.2008.12.010. Yakobobki , P. (2007) ‘Are you planni ng and savi ng for reti rement?’, Academe, pp. 31–33. Yang, F. (2009) ‘Consumpti on over the li fe cycle: How di fferent i s housi ng?’, Revi ew of Economi c Dynami cs, 12(3), pp. 423–443. doi : 10.1016/j.red.2008.06.002. Yang, T. Y. and Devaney, S. A. (2011) ‘I ntri nsi c Rewards of Work, Future Ti me Perspecti ve, the Economy i n the Future and Reti rement Planni ng’, Journal of Consumer Affai rs, 45(3), pp. 419–444. doi : 10.1111/j.1745- 6606.2011.01211.x. Yeung, D. Y. (2013) ‘I s pre-reti rement planni ng always good? An exploratory study of reti rement adjustment among Hong Kong Chi nese reti rees’, Agi ng & Mental Health, 17(3), pp. 386–393. doi : 10.1080/13607863.2012.732036. Yeung, D. Y. and Zhou, X. (2017) ‘Planni ng for Reti rement: Longi tudi nal Effect on Reti rement Resources and Post-reti rement Well-bei ng’, Front Psychol, 8(1300.). 196 University of Ghana http://ugspace.ug.edu.gh Yuh, Y., Sherman, H. and Montalto, C. P. (1998) ‘Mean and pessi mi sti c projecti ons of reti rement adequacy’, Fi nanci al Servi ces Revi ew, 7(3), pp. 175–193. Zhao-Ping Z, Zhangran Z. (2012). Using social cognitive career theory to predict the academic interests and goals of Chinese middle vocational-technical school students. Public Personnel Management.;41(5):59–68 197 University of Ghana http://ugspace.ug.edu.gh APPENDI CES Appendi x 1: Consent Form Purpose Hello! My name i s ________________ and I  am from Uni versi ty of Ghana. I  am conducti ng a study on reti rement preparati on among Mi ni sters of Presbyteri an Church of Ghana. The purpose of the study i s to understand how Mi ni ster prepare for reti rement psychologi cally, soci ally and fi nanci ally. I  wi ll be speaki ng wi th a sample of Mi ni sters both acti ve and reti red and management members wi thi n Ghana. Procedure I  am i nvi ti ng you to parti ci pate i n the study to share your experi ence on how you are prepari ng for reti rement i n the vari ous di mensi on, I  referred to earli er. I  wi ll ask you speci fi c questi ons on these areas and expect you answer them to the best of your knowledge. I n order to make our di scussi on move faster, I  wi ll be recordi ng you, so that I  can type out your response afterwards. Your parti ci pati on i n the study i s voluntary. I f you agree to parti ci pate i n the study, i t may take between 30-45 mi nutes to complete thi s questi onnai re. Duri ng answeri ng thi s questi onnai re, you can refuse to answer any questi on that you are not comfortable wi th or wi thdraw your consent to parti ci pate i n the study. I f you deci de not to parti ci pate i n the study, nothi ng wi ll happen to you, and i t wi ll not affect your relati onshi p me or the research team. 198 University of Ghana http://ugspace.ug.edu.gh Ri sks and Di scomforts The ri sks i nvolved i n taki ng part i n thi s study are mi ni mal. These i nclude the i nconveni ence that the i ntervi ew wi ll cause you, and the ti me that you wi ll spend answeri ng the questi ons. Some of the questi ons may seem personal and sensi ti ve. You can however choose not to answer any questi on that you do not feel comfortable answeri ng. Benefi ts There are no di rect benefi ts to you for your parti ci pati on i n the study. However, the i nformati on that wi ll be obtai ned from thi s study wi ll help i n addressi ng i ssues relati ng reti rement planni ng for the church. Confi denti ali ty Any i nformati on you share duri ng the di scussi on wi ll be treated confi denti ally and no personal i denti fyi ng i nformati on concerni ng you or any person wi ll be presented i n the analysi s or publi cati ons of thi s study. The i nformati on would not be shared wi th anyone and wi ll be used only for the purposes of thi s study. I  wi ll not menti on any of your names i n the report of thi s study, and nobody wi ll be able to trace your answers back to you. All personal i nformati on wi ll be kept stri ctly confi denti al. I  wi ll do everythi ng to keep your data secured. Despi te all of the efforts, unanti ci pated problems, such as a stolen computer may occur, although i t i s hi ghly unli kely. All data wi ll be coded by numbers and separated from your name or any other way to i denti fy you. The i nformati on you provi de wi ll be used only i n combi nati on wi th other data, and results wi ll be presented only i n aggregated form. The followi ng i ndi vi duals and agenci es wi ll be able to look 199 University of Ghana http://ugspace.ug.edu.gh at and copy your research records: the i nvesti gator, study staff and the Uni versi ty of Ghana. Ri ght to refuse or wi thdraw Before parti ci pati ng i n the study, please understand that your parti ci pati on i s voluntary. You do not need to parti ci pate i n the research i f you do not want to. I f you deci de not to be part of thi s study, your deci si on wi ll not affect your relati onshi p wi th the staff of the Ghana Health Servi ce i n anyway. You wi ll also not lose any benefi ts that you would have otherwi se been enti tled. I f you agree to take part i n the study, you can sti ll wi thdraw from the study at any ti me and thi s wi ll not affect you i n any way. Your parti ci pati on i n thi s study ends after completi ng the questi onnai re. Are you wi lli ng to parti ci pate i n the i ntervi ew? 1. Yes [ ] 2. No [ ] I  have revi ewed the above wi th the parti ci pant and he/she has freely agreed to parti ci pate i n the i ntervi ew. Study Parti ci pant Name_________________________Si gnature/Thumbpri nt___________Date______ Person obtai ni ng consent Name_________________________Si gnature/Thumbpri nt____________Date_____ 200 University of Ghana http://ugspace.ug.edu.gh Appendi x 2: I ntervi ew Gui de for Mi ni sters i n Acti ve Servi ce Demographi c Data (Thi s data would be collected on separate sheet desi gned for that purpose Age, Sex, Mari tal status (for how long), Number of chi ldren, Educati onal level, how long worki ng as ordai ned Mi ni ster, Regi on of practi ce, di stri ct, number of chi ld (ren) Preparatory questi on 1. Please can you share wi th me your experi ence worki ng as Mi ni ster i n the Presbyteri an Church i n Ghana? Knowledge on reti rement plans i n Presbyteri an Church 2. What are some the reti rement plans avai lable for Mi ni sters i n Ghana? a. How di d get to know about the reti rement plans? b. Who quali fi es for the vari ous reti rement plan you have menti oned? 3. At what poi nt of your work as ordai ned Mi ni ster di d you become aware of these reti rement plans? a. Probe on formal trai ni ng on workshop on reti rement plan? b. Probe on the content of trai ni ng and the faci li tators? Reti rement plans 4. What preparati on have you made towards your reti rement? a. Probe on fi nanci al preparati on i. Probe on type i nvestment b. Probe on care of chi ldren and general c. Probe on post-reti rement work assi gnments 5. What are some the factors you consi dered when you were maki ng your reti rement plan? a. Probe on avai labi li ty of resources 201 University of Ghana http://ugspace.ug.edu.gh b. Probe on fami ly si ze and other support system 6. What factors can faci li tate the i mplementati on of your reti rement plans? 7. What factors are li kely to hi nder effecti ve reti rement planni ng? I  have fi ni shed wi th my questi ons. I s there anythi ng else you would have love us to di scuss? Thank you very much, I  would li ke to replay our di scussi on for you to li sten and make addi ti ons, subtracti ons or clari fi cati on where necessary. Once agai n thanks and be assured that any i nformati on you have provi ded would be treated as confi denti al. 202 University of Ghana http://ugspace.ug.edu.gh Appendi x 3: I ntervi ew Gui de for Reti red Mi ni sters Demographi c Data (Thi s data would be collected on separate sheet desi gned for that purpose Age, Sex, Mari tal status (for how long), Number of chi ldren, Educati onal level, how long worki ng as ordai ned Mi ni ster, Regi on of practi ce, di stri ct, number of chi ld (ren) Preparatory questi on 1. Please can you share wi th me your experi ence worki ng as Mi ni ster i n the Presbyteri an Church i n Ghana? Knowledge on reti rement plans i n Presbyteri an Church 2. What are some the reti rement plans avai lable for Mi ni sters i n Ghana? a. How di d get to know about the reti rement plans? b. Who quali fi es for the vari ous reti rement plan you have menti oned? 3. At what poi nt of your work as ordai ned Mi ni ster di d you become aware of these reti rement plans? a. Probe on formal trai ni ng on workshop on reti rement plan? b. Probe on the content of trai ni ng and the faci li tators? Reti rement plans 4. What preparati on have you made towards your reti rement? a. Probe on fi nanci al preparati on i. Probe on type of fi nanci al preparati on b. Probe on care of chi ldren and general c. Probe on post-reti rement work assi gnments 5. What are some the factors you consi dered when you were maki ng your reti rement plan? a. Probe on avai labi li ty of resources 203 University of Ghana http://ugspace.ug.edu.gh b. Probe on fami ly si ze and other support system 6. What factors can faci li tate the i mplementati on of your reti rement plans? 7. What factors are li kely to hi nder effecti ve reti rement planni ng? Post-reti rement Experi ence 8. Can you share wi th your experi ence after reti rement? a. Probe fi nanci al experi ence b. Probe changes i n responsi bi li ty 9. How are you able to cope wi th challenges on reti rement? a. Probe on fi nanci al strategi es b. Probe on reducti on of expendi ture c. Probe on soci al support I  have fi ni shed wi th my questi ons. I s there anythi ng else you would have love us to di scuss? Thank you very much, I  would li ke to replay our di scussi on for you to li sten and make addi ti ons, subtracti ons or clari fi cati on where necessary. Once agai n thanks and be assured that any i nformati on you have provi ded would be treated as confi denti al. 204 University of Ghana http://ugspace.ug.edu.gh Appendi x 4: I ntervi ew Gui de for Management and Admi ni strators of the Church Demographi c Data (Thi s data would be collected on separate sheet desi gned for that purpose Age, Sex, Mari tal status (for how long), Number of chi ldren, Educati onal level, length of years as ordai ned Mi ni ster. Objecti ve 1: Determi ne the pre-reti rement preparati on of Mi ni sters of the Presbyteri an Church of Ghana 1. What pre-reti rement preparati on does the church have for Mi ni sters of the Presbyteri an Church? Objecti ve 2: I denti fy the fi nanci al pre-reti rement preparati on of Mi ni sters of the Presbyteri an Church of Ghana 2. How does the church prepare Mi ni sters fi nanci ally towards reti rement? 3. What poli ci es are avai lable to Mi ni sters of the Church to enable them prepare fi nanci ally for reti rement? Objecti ve 3: Explore the psychologi cal preparati on of Mi ni sters of the Presbyteri an Church of Ghana 4. How does the Church prepare Mi ni sters towards reti rement? 5. What systems are i n placed to enable Mi ni sters of Church prepare psychologi cally for reti rement? 6. Does the church make pre-reti rement preparati on trai ni ng to enable Mi ni sters of the Church prepare for reti rement? Objecti ve 4: I denti fy soci al preparati on of the mi ni sters of Presbyteri an Church of Ghana towards reti rement 205 University of Ghana http://ugspace.ug.edu.gh 7. How does the Church prepare Mi ni sters soci ally towards reti rement? a. Mi ni ster’s i nvolvement i n church acti vi ti es? b. Provi si on of soci al faci li ti es c. Conferences, workshops d. Use of thei r knowledge and experi ence e. Reti rement semi nars? 8. What systems are i n placed to enable Mi ni sters of Church prepare soci ally for reti rement? 9. Does the church make pre-reti rement preparati on trai ni ng to enable Mi ni sters of the Church prepare for reti rement and does thi s i nvolve the partners of Mi ni sters? Objecti ve 5: Explore the gender dynami cs i n pre-reti rement preparati on and post-reti rement experi ence of Mi ni sters of Presbyteri an Church of Ghana 10. Are there di fferences between pre-reti rement preparati on between male and female pastors? 11. Does the Church consi der the gender of the Mi ni ster i n pre-reti rement preparati on? 12. What are some the di fference i n pre-reti rement preparati on? 206 University of Ghana http://ugspace.ug.edu.gh Concludi ng 13. What factors had been put i n place to faci li tate the i mplementati on of reti rement plans for Mi ni sters of the Presbyteri an Church? 14. What factors are li kely to hi nder the church effecti ve reti rement planni ng for mi ni sters? Post-reti rement Experi ence 15. What i s done by the Church to cater for reti red Mi ni sters? 8. How are reti red Mi nsters copi ng wi th reti rement? 9. Do you thi nk the Presbyteri an Church of Ghana has the capaci ty to prepare her mi ni sters towards successful reti rement/the way you prepare your mi ni sters needs i mprovement? a.I f Yes/No, Ki ndly explai n 20. What factors are li kely to hi nder the Church from carryi ng out effecti ve reti rement preparati on for her mi ni sters? 21. What recommendati ons would you li ke to make towards thi s research work? 207 University of Ghana http://ugspace.ug.edu.gh Appendix 5: Manual 0n Retirement Planning and Preparation of Ordained Ministers in the Presbyterian Church of Ghana, other Institutions and Organisations BY REV. (MRS.) ESTHER AGBODEKA 10214850 (PHD CANDIDATE) 2018 208 University of Ghana http://ugspace.ug.edu.gh OUTLINE Manual on Retirement Planning and Preparation............................................ 210 Challenges for Lack of Planning or Preparation for Retirement ..................... 211 Planning and Preparation for Retirement ........................................................ 212 Factors that can Affect Adjustment Towards Retirement .............................. 213 Coping Mechanism during Retirement ........................................................... 214 209 University of Ghana http://ugspace.ug.edu.gh Manual on Retirement Planning and Preparation. 1. Definition of Retirement 2. Definitions from other people 3. Types of retirement a) Voluntary b) Compulsory 4. Why plan for retirement? a) Longevity Risk b) Disruption of normal life cycle c) Changes in family structure d) Inadequacy of personal social security e) Organizational drawing f) Social Responsibility g) Learning from experience of those on retirement or retired. h) Boosting of image of their organization 210 University of Ghana http://ugspace.ug.edu.gh Challenges for Lack of Planning or Preparation for Retirement 1. Loneliness 7.Hunger 2. Isolation 8.Depresssion 3. Lack of accommodation 9. Short life span 4. Lack of sufficient funds 10.Poor health 5. Anxiety 11.Disappointment 6. Poverty Planning and Preparation for Retirement 1).Financial preparation; i. Saving immediately you are employed ii. Pension Scheme iii. Buying of shares iv. Buying of bonds v. Buying of treasury bill vi. Investment …………………… a). Establishing business b). Establishing schools c). Accommodation for rental d). Restaurants/cafe e).Owing Shops f).Educational policy for children g).Insurance policy 2).Social Preparation 1. Contribution to society 2. Guidance and counselling 3. Resource Person 4. Opinion leader 5. Mass Educator 6. Adult Educator 211 University of Ghana http://ugspace.ug.edu.gh 7. Consultancy 8. Keep fit club 9. Recreation 3).Health Preparation 1. Balance dieting 2. Medical care 3. Investing in good habits eg. a. Eliminating smoking b. Eliminating alcoholism c. Single sexual partner d. Good life style e. Frequent medical checkups f. Health Insurance 4).Physical Preparation 1. Beads making 2. Batik Tie and dye making 3. Mushroom production 4. Honey making 5. Gardening 6. Rabbit keeping 7. Vegetable farming 8. Livestock keeping 9. Writing of books/ journals/stories 10. Pastime Teaching/Lecturing 5). Psychological preparation 1. Good relation with spouse and children 2. Good family support 3. Good self esteem 4. Preparation towards empty Nest 5. Good moral training of children 6. Contentment with what you have 212 University of Ghana http://ugspace.ug.edu.gh 7. Team spirit and team work 8. Openness and transparency 9. Stop comparing family with others 10. Respect for each other Factors that can Affect Adjustment Towards Retirement are: 1. Level of income 2. Types of savings 3. Number of dependents 4. Level of Retirement Education among others 5. Type of accommodation or housing (maintenance) Coping Mechanism During Retirement Before the ministers retire they should plan and learn some of the activities listed below to help them to be active and take away boredom and loneliness during their retirement period: 7. Sharing experiences, with the younger generations in the Church and the communities they find themselves on how to plan and prepare for successful retirement. 8. Guidance and Counselling; providing guidance and counselling services to the generational groups in the Church, for example Women, Men, Young Adult, Youth Fellowship and children service among others. 9. Serving as resource persons; the retired minister could be invited to be a resource persons during seminars, church durbars, conference, and workshops to talk on retirement planning issues in the Church. 213 University of Ghana http://ugspace.ug.edu.gh 10. Small scale business during retirement for example Batik, tie and die beads making, beekeeping, mushroom farming. This would keep them active during retirement 11. Motivational speakers the retired minister could be invited to speak on retirement planning benefits during symposia and anniversaries in the Church. 12. Gardening and recreation, the retiree could be encouraged to involve themselves in gardening recreation to keep them active. 214 University of Ghana http://ugspace.ug.edu.gh Appendix 6: Introductory Letter 215 University of Ghana http://ugspace.ug.edu.gh Appendix 7: Coded Book for Management Members of The Presbyterian Church of Ghana DEMOGRAPHIC DATA Name : Mr. Kwafo Age : 53 Marital status : Married Highest Educational Level : MASTERS IN THE STUDY OF RELIGION Length of years served : 7 years Sex : Male Number of children : 3 Job/Portfolio : HR PREPARATORY QUESTION 1. What pre-retirement preparation does the church have for Ministers of th Presbyterian Church of Ghana? With preparation as in meeting them and preparing them, I will say no but the department for us, we have what we do for them and we have been discussing it. But we have in the department, normally in the department of Indirectly, we have a program with the leadership school, this department of leadership school and preparing for retirement is one of the courses and what is happening is that it does not select those who are due for retirement for the next five years, ten years, and the rest of it but it has to do with, let’s say, general curriculum and it has to do with those who apply to be part of the program (what of those who don’t apply?). Yes they are left behind. What is happening is that this school is actually is supposed to be compulsory for 216 University of Ghana http://ugspace.ug.edu.gh every ordained minister; so we have it in the form of the school and I think that something that should be I mean a well-organized program for those within a particular bracket let’s say those who are going to retire within the next five years, ten years and the rest of it for that I will say it is in a pipe line. 2. How does the church prepare Ministers financially towards retirement? When we talk of financial preparation. Let us start from SSNIT, every minister who qualifies for SSNIT is in the first place on SSNIT then we have the second: tier” every minister who is on SSNIT is also on the second “tier” (for all ministers or full time ministers?). Full time ministers. And then the church also has its own pension scheme and that has been in existence for a long time I don’t know when it started so I can’t tell when it started , but that pension scheme is running out in the sense that initially the orders of the church were not on SSNIT but when they were brought on SSNIT some people could not qualify for it because they had to do 240 demands so they did not qualify and those who did not qualify remained on the churches pension schemes and that since that time we have not been bringing new people on board in the sense that not every employer has to be on the SSNIT . Besides that since 2011 the church has what we call the agents welfare scheme as we speak is for full time ministers. With the agent welfare scheme the employee will contribute 10% of his income and the church adds 5% to it. There’s is a component that has to do with insurance in that regard if let’s say a member contributor is affected by some particular illness then an amount will be given to the next of king of that person it’s been in existence from 2011 it is the whole financial company that is handling it . 217 University of Ghana http://ugspace.ug.edu.gh 3. What policies are available to Ministers of the Church to enable them prepare financially for retirement? Currently we don’t have no policies, but we are looking for other scheme not only related to ministers but one who is a worker in office. We have what we call a welfare club and welfare club registers, with that individuals allow money to be taken out of their salaries that yield interest. What I know is that individuals have been taking loans there and other projects and there is no policies on it and it’s like the option is there if you want to be on it. In a way the essence of it is to prepare the person the best opportunity to have savings at the end of the day. Because I know that even the ministers who have worked is what they lived they don’t even stop. There are ministers who are on it presently no in office but they still contribute to what but there is no policies covering it is a matter of choice. 5. What systems are in placed to enable Ministers of the Presbyterian Church prepare psychologically for retirement? There is nothing, we have not started that. 6. Does the church make pre-retirement preparation training to enable Ministers of the Church prepare for retirement? It is very important to me looking at the church system and the way it operates in this area that is, let say you are a minister , a full time minister it must basically you are given a reason so that you see if you will demand beds , mattresses, and furniture , wardropes , gas cookers, gas cylinder , television and all these things are provided by the church , but at the point the person will retire at 70, the person will retire if it does not end at 70. So it is very important to be to talk about this even in the beginning of the persons ministry because it’s like 218 University of Ghana http://ugspace.ug.edu.gh you were grooved in a way that you think that everything comes back comes by itself and some occasions we have ministers who appeal to the church for instance on retirement I’m still living in an family home and the family home is dilapidated and will have to move or someone will say I have built my home. The psychological preparations are to be taken into considerations and it goes beyond let say the financial aspect it a while package that we have to look at. 7. How does the church prepare Ministers socially towards retirement? There is nothing like that. From where I sit there is nothing like that. 8. What systems are in placed to enable Ministers of Church prepare socially for retirement? No. there is nothing like that 9. Does the church make pre-retirement preparation training to enable Ministers of the Church prepare for retirement and does this involve the partners of Ministers? There is none. As we see it, the department and administration want to start preparing ministers for retirement as soon as they are initiated. We have realized that preparing for retirement is something that should be started from day one as soon as you are ordained. For that, yes, we are now planning to do so. 15. Do you think the Presbyterian Church of Ghana has the capacity to prepare her ministers towards successful retirement? Yes. We have the capacity. We have the human resource to train. It is just that the awareness wasn’t there. Maybe the focus or the emphasis was somewhere. Initially, we were looking at housing scheme that will house and help ministers. We think that with time, if this agen welfare scheme should mature and we have a lot of funds in it, then the housing aspect will also come on. 219 University of Ghana http://ugspace.ug.edu.gh Follow-up question What factors do you think can aid the church to do effective retirement preparation. We have the human resource. Even if we don’t have the funds, we can modernize. It is known that the church embark and rely on offerings and chastity. Don’t you think that that in the future, there will be giving fatigue and that the church should start investing in other forms of projects? We have come to know that it is high time we started investing in other things that can aid the church. Currently, we have a lot of projects like buildings and Salem water which helping the church. We also have Salem financial services. The church is also looking at other investments. We have project and investment committee that looks at these things. 20. What factors are likely to hinder the church from carrying out effective retirement preparation for her ministers? The general economic distribution in the country (influence) the church cannot live on its own whatever happens outside affects the church. Does the increase in the number of ministers affect the church? The increase does not affect the church because, the more ministers we have, and the more active the church will be. A lot ministers means the church is 220 University of Ghana http://ugspace.ug.edu.gh spreading and we have a lot more congregations and a lot more members. You will have a lot of contributions which is obvious that a lot of money will also come to the church. So to me, a lot of ministers will affect the church positively. What about change in government? Does it affect the church? Yes it has an influence. But I don’t think if the church is asked to pay tax, it will affect the church. Follow-up question; How old is the Presbeyterian Church of Ghana? Its 189 years. 221 University of Ghana http://ugspace.ug.edu.gh DEMOGRAPHIC DATA Name : Mr. Alex De-Graft Hanson Age : 38 Marital status : Married for 4 Years Highest Educational Level : Master of Commerce specializing in the area of Finance and a Professional Chattered Accountant from ICAG Length of years served : 18 Months Sex : Male Number of children : 2 Job/Portfolio : Director of Finance for the Church PREPARATORY QUESTION 4. What pre-retirement preparation does the church have for Ministers of the Presbyterian Church of Ghana? Well! For the system I came to meet here, the church has 2 retirement schemes: there are ministers who are on SSNIT and there are ministers who are on the church’s pension scheme. Previously, all ministers were on the church’s pension scheme but when SSNIT came to being, the church realized that it might not be sustainable so at a point in time, they had to migrate ministers who could make the 240 months to SSNIT. So those ministers who couldn’t make the 240 months were retained on the church’s pension scheme. What we do is that at the end of every month, we deduct the required statutory percentage from their salary which is from the employee and the employer adds its percentage. It is in an investment for them, that is those on the church’s pension scheme. When they go on retirement, we do a computation and they are given a lump sum. 222 University of Ghana http://ugspace.ug.edu.gh Follow up questions: Is there any way of preparing the ministers by organizing seminars, conferences, education to sensitize or make them aware that they need to prepare towards retirements? Well! With my little stay, I will say no. We have not consciously prepared their minds, educate them prior to retirement. No! We have not. If the church has done over the period, I am unable to tell bit with my little stay, I can say no we have not done that. 5. How does the church prepare Ministers financially towards retirement? For the finance as I explained earlier, pension is mandatory. It is backed by law and the employers is expected to pay a percentage of the employer’s remuneration. The employee is also expected to contribute a percentage from his income. At the end of every month, these deductions are made and paid into an investment account. When the person goes on retirement we are able to compute his total contribution Vis a Vis the accrued interest on the contribution then we can appropriate that to the employee. Follow up question: Is it for all ministers or full time ministers? Do they enjoy the same benefit? The tenth ministers do not enjoy pension because they are a full time employee elsewhere. Therefore, they enjoy the SSNIT given by their employers. 6. What policies are available to Ministers of the Church to enable them prepare financially for retirement? 223 University of Ghana http://ugspace.ug.edu.gh As for the preparatory aspect, that is with the human resource department but for the financial aspect, yes we have policies. We have two financial policies. They are investment policy and governing rules i.e. Presbyterian Church of Ghana Investment policy and Presbyterian Church of Ghana governing rules. The investment policy talks about where to put the money and the governing rules talk about who is to benefit and in what period in that order. The governing rules address all these issues but the investment policy has to do with where to put the money, whether full equity, money market and other things. Follow up question: From the first answer you gave me, you said the church gives the full times a lump sum when they are going on retirement. Apart from that, do they get any monthly allowance? Yes! They do. They retire on 75% of their basic salary at the time of retirement. For example, a minister retires in August and as at August the minister’s basic salary is GH₵1000.00 His monthly allowance will be GH₵750.OO every month. And anytime there is an upward adjustment in salaries and allowances, it is affected as well. They receive allowances every month till death. And even beyond that, when the minister dies, the spouse is brought onto the scheme but wouldn’t get the same amount as minister. A lower amount up until the spouse also passes on. 8. What systems are in placed to enable Ministers of the Presbyterian Church prepare psychologically for retirement? NO! Not that I am aware of. 224 University of Ghana http://ugspace.ug.edu.gh 9. Does the church make pre-retirement preparation training to enable Ministers of the Church prepare for retirement? NO! Not that I am aware of. 10. How does the church prepare Ministers socially towards retirement? a Minister’s involvement in church activities? b Provision of social facilities c Conferences, workshops d Use of the knowledge and experience e Retirement seminars? For now, NO! What I know is that some of the retired ministers do help execute the co-operate social responsibility even after retirement but not engineered by the church. The church however does not organize workshops and conferences to prepare ministers socially towards retirement. 10. What systems are in placed to enable Ministers of Church prepare socially for retirement? NO! Not that I know of. 11. Does the church make pre-retirement preparation training to enable Ministers of the Church prepare for retirement and does this involve the partners of Ministers? No 15. Do you think the Presbyterian Church of Ghana has the capacity to prepare her ministers towards successful retirement? 225 University of Ghana http://ugspace.ug.edu.gh Yes! The church has the capacity to prepare its ministers prior to retirement. Follow up questions: Can you give me reasons? The church is big and there are more knowledgeable people in the church that the church can fall on to periodically run such important training or seminars for ministers who are yet to go on retirement. I believe it beholds on the church to engage few interested parties who have knowledge in that area and design a kind of system where ministers intermittently are organized at least a year where ministers will be spoken to about retirement and what is next after retirement. So I believe the church can do it. What are some of the factors being human resources, logistics and other things that the church must have if you have to embark on retirement? For human resource, I can say is well endowed. For logistics, I don’t think I can say the church lacks the logistics to organize unimportant seminars and training or conference for such ministers. The church has it all. If the preparation for retirement by church, well planned, and well budgeted for, it can be sustainable. Do you think the church is not doing it? Maybe their attention hasn’t been drawn. There is lack of awareness but I believe the church can do it. Do you think the church can embark on other financial projects aside depending on charity and offerings? 226 University of Ghana http://ugspace.ug.edu.gh The church over the period has tried to enter into business ventures to support the church in terms of finance and not solely relying on the offering and donations from people. Currently, the church has about three business. We have an insurance brokerage firm, a water producing company, a press just last year, and we were able to get a certificate to run an investment financial services. The church has the capacity to open business and the church is making the frontage effort to expand such businesses so that at a point in time, the church won’t rely so much giving offertory and all that. So the church can get money from their resources to operate. Is it because of donor fatigue? Yes, we are anticipating donor fatigue. 21. What factors are likely to hinder the church from carrying out effective retirement preparation for her ministers? No. as I said if it is well-planned and well-budgeted for, it will suffice. This is because each time we generate budget, there are so many macro-economic variables that are taken into consideration including inflation and fluctuation of the exchange rate. Follow up questions: One school of thought says that individual prepare for education but they don’t prepare towards retirement. Whenever someone is employed, he or she has to start preparing towards retirement. What do you have to say on that? 227 University of Ghana http://ugspace.ug.edu.gh The church I believe as I said earlier on, once this awareness is created, if the church is able to embrace all these important awareness, trust me, the church will be in the capacity to fully prepare ministers prior to their retirement. Personally, I don’t see any obstacle or hindrance just that it hasn’t clicked yet. If it should click, the church will go all out to embrace it. 22. What recommendations would you like to make towards this research work? What I will want to suggest is that after the trial end of all this important exercise, you must help bring the church’s attention to the fact that we are not doing enough sympathizing our Ministers to fully prepare prior to their retirement. It will be very extremely important that the church take it as a full business, organize training seminars, conferences, give talks for Ministers within a particular age bracket, people nearing pension so it psyche them to prepare adequately towards their pension and after their pension. 228 University of Ghana http://ugspace.ug.edu.gh Appendix 8: Coded Book for Retired Ordained Ministers of Presbyterian Church of Ghana DEMOGRAPHIC DATA Name : Rev. Amishadaa Kooku Age : 70 years Marital status : Married Educational Level : Master’s Degree Length of years served : 23 years Sex : Male Number of children : 3 PREPARATORY QUESTION 1. Please can you briefly share with me your experience as Minister in the Presbyterian Church in Ghana? For me all I know is that, they post me to a place. I take care of the congregation and after 4-5 years, they transferred me to another place. 2. Can you briefly tell me some of the retirement plans available for Ministers in Presbyterian Church of Ghana? Nobody has shown me any plan. I have planned my retirement myself. 3. At what point of your work as ordained Minister did you become aware of these retirement plans? Please I have planned my retirement. That is all. The church has done nothing about it. My mother’s friend was a minister of the Presbyterian Church. He served the church for 57 years. When I became a minister, he told me and I advised myself. 229 University of Ghana http://ugspace.ug.edu.gh 4. What pre-retirement financial preparation are you currently making? I have invested so much in networks and treasury bills. 5. What are some of the factors you will consider when making your financial retirement plan? All my children are out of the universities now. Pre-retirement financial preparation currently I am looking at my health and how to take care of myself and my wife till the lord calls us. Follow up question Please have you built? I have my own house in Accra. I built it myself and not the church. 6. What challenges are you encountering in financial preparation for retirement? I have been a teacher & lecturer. I have used my own planning and salary in preparing for retirement. My children have helped me in doing that. The stipends from the church is inadequate. There is nothing coming from there so I am not looking up to the church to help me. 7. How are you addressing these challenges? My servants helped me. 8. What psychological preparation are you making for retirement? 230 University of Ghana http://ugspace.ug.edu.gh The church does not prepare me psychologically because I am already retired. I am a tenth minister. They just came and brought a letter that I am on retirements. 9. How have you plan to cope with retirement with retirement psychologically? I have gone through many things in the Presbyterian Church. So now, what I tell people is that “I served God not the Presbyterian church” and because of that I put everything before God. Proverbs 12:5-6. “Trust in the Lord with all your heart and ye not unto your own understanding in all your ways”. The words that touches my heart in that sentence are; “in all your ways”. So that is my consolation. 10. What are some of challenges you think you may encounter socially after retirement? Nothing have been said. If they had a plan, they haven’t revealed it to me yet. 11. What social preparation have you made? I do a lot of things especially family life issues. So for that matter, I am always doing programs for people (counselling and all that). 12. What preparation have you made for: a). Where to live b). Relationship with church and society c). Family engagement d). Job of spouse e). Current age of youngest child 231 University of Ghana http://ugspace.ug.edu.gh When I get to my hometown, I will do the things I have done here as well concerning families and other counselling matters. I will however continue to serve the church. Anytime they call me, I will do it. My wife is already on retirement. She was a civil servant. My youngest child is 26 years. Follow up questions Do you think the presby church of Ghana has the capacity to prepare its ordained ministers who have sacrificed? Yes, they have the capacity. They only don’t have the plan. Everybody in this world will say that they have the capacity to prepare its workers. It is planning which does. If you have a vision, you plan. Why do you think this is happening? Is it lack of awareness? The church is always crying. We are always crying on our poverty (the church) and because of our crying, we don’t act. The church has all the people it needs. Instead of siting people with the academic training to plan on such issues, they do not do that. We don’t have a vision. They must respect the people, think about people and plan for their future. There is the need to plan and execute all plans. 232 University of Ghana http://ugspace.ug.edu.gh 16. What factors are likely to hinder/aid the Church of Ghana has the capacity to prepare her ministers towards successful retirement? I have said it already that we always cry at poverty and the things that are necessary to sit down and plan, we don’t do that. 17. What recommendations would you like to make towards this research work? The church should have a body that plans the retirement of ministers. Say 10 years before retirement, they bring you together and they begin to educate you and all that. When you are done with the project, let the church know about it and find a way to let the public know that you have done this and you want the Presbyterian Church to implement it. 233 University of Ghana http://ugspace.ug.edu.gh DEMOGRAPHIC DATA Name : Rev Mawuli Yaw Agbesi Age : 70 Marital status : Married Educational Level : Degree Length of years served : 21 years Sex : Male Number of children : 6 PREPARATORY QUESTION 1. Please can you share with me your experience working as Minister in the Presbyterian Church of Ghana? As I told you, I was commissioned in 1994. My first station was Hohoe. The church was virtually 2-3 years old. I had to start there as someone who was starting the church as fresh though in preparation other than district. In those initial times things were not very good for us because my accommodation was just a room. That was where I started work as a minister, but fewer were the times we had to rent a place at Hohoe because there was no church per say. People did not know of the Presbyterian church of Ghana. When you talk of the Presbyterian Church there, if is E.P. I had to make everything possible to make sure that I popularize the name Presbyterian Church of Ghana. I was teaching at Hohoe experimental school so I had to open a school. Aside the school, when children came from all corners of the town, they will say am going to Presby School. So with the small church, my elders and I opened the school. It was a private school anyway with three years’ experience, we saw that the church was new. We didn’t have 234 University of Ghana http://ugspace.ug.edu.gh accommodation for worship and so on. But a small accommodation was what we used for the chapel, the school and all that. We could not continue the private school so we gave it out and it became a public school. That was my experience as founder of the school. Now that school is about the fourth best school in Hohoe municipality by a municipal directors own testimony. From there in 1996, we were ordained at Akosombo. From there, I became an ordained minister but I had to pastor there to make sure that the church is established and matured until I went back to legon in 1998 but before then, we had gotten plots of land for worship place and another plot of land for chapel. From legon, I was posted back to the Volta region as a deputy manager of schools over there at Ho. Later, in 2007, I retired from GES as an active servant. I then entered full time ministry. My first station as a full time minister was at Agona Nsaba. I stayed there and ministered for four years, and was later transferred to Agogo where I served for three years and now I am here at Konongo serving for the past three years as a minister of the Presbyterian Church of Ghana. Within the service, we had to do a lot of evangelism. Hohoe was footy. When I came to Agona Nsaba, we opened four churches because for me, it was good for us as Christ said in Mathew 28. It was opening of churches. 2. Can you briefly tell me some of the retirement plans available for Ministers in Presbyterian Church of Ghana? Personally I will say no because there is no particular schedule to prepare you towards retirement. There are no education, seminars towards preparation of retirement. Also, there was no structured strategy preparing you as a retiring minister. I have not experienced that. 235 University of Ghana http://ugspace.ug.edu.gh 4. What pre-retirement financial preparation did you make prior to retirement? I know that as a minister of the church, I will retire at 70. It is not through education but it’s a policy of the church that at age 70, you will retire. I knew about that so I made an effort on preparations towards my retirement. I had sleepless night thinking about how to upkeep myself after retirement since I started as a teacher roaming about all the time. 5. What are some of the factors you considered when you were making your financial retirement plan? My wife is from the Brong Ahafo region and I am from the Volta region. I considered the fact that my family must relate as a family united at one place. So the question was will it be at Brekum (Brong Ahafo) or Biakpa (Volta region)? And I said no. As an Ewe, we do paternal inheritance and Akans do maternal inheritance. So these are my children who will inherit paternally and maternally. So I decided to establish a home for the entire family so that is why I did that. Follow up questions: a). Do you have some of your children still in school? Yes b). What financial preparation have you done for them? Incidentally, I have not done any financial policy for them being it Treasury bill or whatever. The few who are left have just completed senior secondary school. You realize that for them to go ahead, their 236 University of Ghana http://ugspace.ug.edu.gh older siblings are there and the little that I will be taking as a retired teacher will all factor into bringing them up. 6. What challenges did you encounter in your financial preparation for retirement? In the mission house as a minister, a few other things which I am enjoying now; some allowances and other benefits will no more come so I will be depending solely on my own purse. You realize that it will no more be a stipend but my own purse. It will be a retired teacher taking my retired money. 7. How were these challenges addressed? My wife is not gainfully employed but we have discussed it with the children that as we have laboured so much for them, they must also see us through during our old age. So my children are actively involved in the rest of our lives. 8. What psychological preparation did you make for retirement? Psychologically, we have to be ready for that part of our life where we will be not be enjoying what we are enjoying now. My wife and myself have thought about it. However, we have to be psychologically ready so that it will not send us back and say we are sorry. We are retiring and that we are suffering. Follow up question: a How ready are you psychologically? 237 University of Ghana http://ugspace.ug.edu.gh We are very ready because we have some few coins we have saved at the Bank which actually will caution us apart from the pension pays that I will be taking. 9. How are you coping with retirement psychologically? My coping will be sharing my experiences with people, discuss issues with people where I will settle finally. I decided not to settle at my hometown. I will settle at Hohoe because I have gotten another facility there which I am yet to complete. So I will be interacting with people, making sure that whatever is a challenge to me, I will share it with people. 10. What preparations did you make socially prior to retirement? Hohoe was a place I started my ministry and right now, I visit there very often and I am part and parcel of the church. Whenever there is a harvest, they call me. When the roofing of the school got removed, and by God’s grace an NGO built a 6 classroom block and a toilet facility for them, I was called and have to dedicate the building so I am more or less part and parcel of that community and therefore socially, it will not be a new person coming in when I go on retirement. I am already part and parcel of them. 11. What are some of the challenges you encountered when you were making your preparations socially? There will be sort of loneliness that will be a part of my life because right after retirement, you will no more be a public figure and I know that part of life. I 238 University of Ghana http://ugspace.ug.edu.gh will not be mocked down when I’m no longer in ministry. I am hoping to work hand in hand with the church even though am not in ministry. 12. How did you prepare your family for retirement? We always discuss that at home especially during devotion times. Incidentally, my children are not use to that part of life of Ghana now. With our experience at Hohoe and Ho, all of them can speak Ewe. So we are back to renew everything. 13. What factors facilitated the implementation of your retirement plans? I have to do a lot of social interaction with the people. Going around and sharing experiences, they will also be showing their way of life, their experiences and their minds. I think by that, we will not be alone, we will be part of the society. However, I have told majority of them that I will be settling down at Hohoe. 14. What factors are currently hindering your effective retirement planning? Finance. We are just managing such that by the time we will settle at Hohoe, things will not be so bad that it will affect me negatively. 15. Do you think the Presbyterian Church has the capacity to prepare her ministers towards successful retirement? They have because they have got the Human resource. There are several ministers. The logistics will be the problem because they are encountering a lot of financial problems. We know the church has set up a Counselling board as it 239 University of Ghana http://ugspace.ug.edu.gh is now. Even in this Presbytery, just 3 days ago, our pastor has set up a counselling team (a board) so that if things are getting out of hand, these people will be with you so I think the church is capable of doing that. The church was relying on a lot of donor facility from our missionaries. Now the church is doing something called self-sustenance. But the money is not coming such a volume that we can effectively do what we need. So we are working under the quiet resources that we need. So the church has to raise conscious efforts to prepare an appropriate pension fund. Follow up question: I. Can the church do something about it? The church can. In some years back, the church started establishing an area overseas where retiring ministers can go and stay but with we the Africans, our culture is not a culture that retired ministers can travel. But the best that the church must do now is that, when the church is nearing retirement, they should discuss things with us to raise funds with your help so that before you will retire, there is a facility that the church with you have established. But right now, the preparation towards retirement is strictly your effort. II. What factors however do you think can help prepare ministers towards retirement? The church must strategically raise a team, committee to start planning to prepare seminars, conferences etc. so that in that forum, the ideas will be implemented. That will help the church at the end of the day. 240 University of Ghana http://ugspace.ug.edu.gh 18. What recommendations would you like to make towards this research work? I will say that if this is a project that you are undertaking, it means that you will now be more informed than others about how to prepare human resource for retirement. So after the project, I feel that you must avail yourself to the church the ideas to wherever you will be and let them start something consciously. You may be spearheading facilitators to nature the church to doing something good. Follow up questions: a How do you see the importance of the project? This project is very important because from my interaction, you will see that there is a missing link. You call your agent to work and at the end of it, your agent labours on until time is spent, go home and they lament and die before their normal God sent age. So I will always say that this issue (your topic) is a very important and critical issue and it shouldn’t only be a paper work. I think that after that, you rally resources together to establish something which church will copy to make sure that the human resources that labour for the progress of the church are not just left after retirement. 241 University of Ghana http://ugspace.ug.edu.gh Appendix 9: Coded Book for Ordaianed Active Ministers of the Presbyterian Church of Ghana IGMAS DEMOGRAPHIC DATA Name : Rev. Dr. Suley Sarh Age : 56 years Marital status : Married Highest Level of Educational : PhD Length of years served : 28 years Sex : Male Number of children : PREPARATORY QUESTIONs 1. Please can you briefly share with me your experience as Minister of the Presbyterian Church of Ghana? Well I completed Trinity Theological Seminary in 1989 and when I finished, I was made to pioneer the outreach to the Northern people especially among my people down south and it was a deprived people working among them to see the transformation. That brought me great joy and satisfaction so I really enjoy my work especially when I see so many lives transformed people like drunkards completely having a change, people in a very miserable state, now count among human beings. God has touched them and transformed their lives. Especially raising them up from poverty and illiteracy, we see the 242 University of Ghana http://ugspace.ug.edu.gh changes and when I look at them, I have satisfaction that my mission has been accomplished. 2. Can you briefly tell me some of the retirement plans available for Ministers in Presbyterian Church of Ghana? Not as I know but occasionally you somebody will mention that prepare for retirement. But we done have a very structured system that when you come to the ministry, there is something planned for u. incidentally there is nothing planned. Follow-up questions So do some people go on retirement unprepared? In fact, the same as desperation. I know some ministers who fear to go o retirement. So unfortunately some even reduce their age because they now realize that they are about to go. They have no house, no plan and that desperation. So you see somebody who is very tired, very old but has to reduce because, where will he stay and all those preparations have not yet been made. And the reason also is some happen to be in the deprived rural areas, areas their level of income is very limited so they finish and do not get any take home, pension pay that can survive so that’s been a very big problem in the Presbyterian Church of Ghana. Because of these, some normally will want to work and make sure they get good pension before they come and join the ministry. But some of us just started fresh. We just finished and we continued. So if you happen to be in a very difficult area, you end up and just don’t know what the future will hold for you and that future can be very scary. 243 University of Ghana http://ugspace.ug.edu.gh Does this mean that if there are structured retirement package for everybody, everyone will go to where his services are needed? Exactly. So for instance I’m now in the Northern Presbytery so some don’t .so when you want to put them here, they are saying what I have done. They even see it as a punishment because they done have a very good package, everybody will like to go where there is so that when they are going they can bring something. At least have a home and have something. So these are physical realities that sometimes can be obstacles. Do you think the church has to do better? I think so. I think we need to do better and I think if the church will sit down critically, the Presbyterian Church of Ghana is very rich. I mean some section of it is rich but some are very poor so if there’s a way that we can be a family and redistribute the resources. I know our Moderator wanted to and has been trying to see whether we can have this thing done. So that if it is done, the rich can support the weak and the weak will get so that nobody like how the Book of Acts says that nobody lacks because some people sold their houses and properties and brought and everybody had so if we can have that kind of family feeling ad we can share resources so that it doesn’t matter where you are you can be assured that you have a decent salary and a decent retirement package. I think our church will better for it but as it is now, there is a large disparity. Those who are very wealthy and those who are very poor. 244 University of Ghana http://ugspace.ug.edu.gh Do you agree to the saying that people spend money, time and energy to develop their career but that same zeal is not put toward retirement? I will say yes and no. Because some people develop themselves well and they are useful to the church but some develop themselves well and they find out that when they have prepared themselves, the church is not using it or they are not able to get the chance or opportunity to use and therefore there are some who haven’t gone to prepare themselves and train themselves very well, will not have the satisfaction that they really have invested their energy and they can show something concrete for what they have done. And so yes you will be going on retirement but you will not look back and say you have just satisfaction that you were able to input your field to good use. But others as I said happen to have their skills very useful and employed so they can have that job satisfaction that indeed they have fulfilled, they are clean. Yes. I am saying that some people it’s not that they don’t have the zeal to do it but they are limited. So if the thing is not even enough, how do you prepare? Because you live hand to mouth. Those who are in less endowed, this thing like the rural person will want to do your best. You want to, just that you get enough to keep the bone and flesh together. So there is not enough good intention that you cannot carry those, they are somehow limited. But I know that there are some also who are careless. Some also have the opportunity and they squander but others wish but they are limited. 245 University of Ghana http://ugspace.ug.edu.gh So will you agree with the philosopher who said that immediately you start work you should start preparing for retirement? I agree that we need to start preparing. Prof Addae made a very important point. He said that you don’t wait. He likens you to investment. A wise farmer doesn’t spend all the crop. You leave some of your seed. So no matter how much you get, I think you can cultivate the habit of saving at least 10%. So I will like to encourage that though the money will not be enough but if you save 10 cedis every month, by the end of the year there will be something. So 25 years you can do something. Sometimes it is just because some people only have the awareness like the vulture more time. Suddenly time reaches. 3. What pre-retirement financial preparation are you currently making? Okay I’m now trying hard to build up one but. For me that situation was, I decided to invest so much in my children’s education and I’m happy. So instead of concentrating to put. I wanted to make sure I gave them good education. So my wife and I we are working on how to put our resources together. 4. What are some of the factors you will consider when making your financial retirement plan? Education, yes, then there is a little bit something on health and insurance and we also do something so that our family, our parents, if God should call them we can at least give them some honorable burial. 246 University of Ghana http://ugspace.ug.edu.gh 5. What challenges are you encountering in financial preparation retirement? Yes, I am the Presbyterian Chairperson for the North and one of the problems that I have overseeing the Presbytery and the responsibility of doing assessment especially in the deprived area where the congregation are hand to mouth, as poor farmers. For some time now the weather has not favored our farmers so it has made it very difficult for them to pay assessment and these are some challenges. So sometimes the little that you have you have to give from your pocket to help carter for some things that the Presbytery should do. So the little savings is eaten up by the inflation and then some family demands here and there so the savings are not able to grow the way that you wish they could grow because of these commitments. 6. How are you addressing these challenges? Just pray for God to come and the little that I get, I make sure I manage it wisely and spend, put a little aside so that I can meet some of these commitments. 7. What psychological preparation are you making for retirement? Yes I’ve already prepared my mind knowing that this position is just for service so it shouldn’t get into my head so I should do my best to make sure that I contribute and leave a legacy that I can be proud of so that I can look back and say thank you God. You called me and I was able to accomplish my mission. And then I also prepared myself to know that my present condition or this chairman is not permanent and next year I am finishing as chairperson and because of my training also, I know what to do the best, where I should go, 247 University of Ghana http://ugspace.ug.edu.gh should I go to the lecture, should I go back to the church? Where should I be? So I still have some options and I just pray for God’s guidance so I can know what I can do so that my last few years of working for the church will be useful and could also prepare me for retirement very comfortably. 8. How have you plan to cope with retirement psychologically? We are preparing purposely too. My children are getting settled except the two girls who are now just going to-preparing them for the university. My wife is also completing a degree course so that she also can start preparing herself so that she will finish well and also have an option to go back to teach at the Akrofi or any of the universities when I finish my term as chairperson. So I’m preparing myself just to see what options are there and then to make sure that when I finish, I could be writing - the experiences that I’ve gained. So I can make good use of my experience. 9. What are some of the challenges you think you may encounter socially after retirement? By the grace of God I grew up in Tamale so my eternal home will be in Tamale. I’m going to be among my people so it’s not going to be a completely new environment. But I’m preparing to see when I come on retirement, how I can be very useful to them, how I can help them. One of the people around me are Muslims so I will see how I will as a minister promote Christian-Muslim relation and try to help them to understand more and appreciate the Christian message so we can promote peace and love and also I’ve worked on the peace council s I have learnt some principles of peace building. I hope that when I come on retirement, I want to be a peace ambassador working for peace in my area. That’s the Tamale area because Northern Region has a lot of conflicts so I want to ae sure that I will work hard to see how we 248 University of Ghana http://ugspace.ug.edu.gh can help to bring peace to the region and especially tell the young people there to cultivate the peace –the culture of peace so that when they have any issue, they will rather look for peaceful means of resolving them rather than sticking to violence. 11. What social preparation have you made? By the grace of God I grew up in Tamale so my eternal home will be in Tamale. I’m going to be among my people so it’s not going to be a completely new environment. But I’m preparing to se when I come on retirement, how I can be very useful to them, how I can help them. One of the people around me are Muslims so I will see how I will as a minister promote Christian-Muslim relation and try to help them to understand more and appreciate the Christian message so we can promote peace and love and also I’ve worked on the peace council s I have learnt some principles of peace building. I hope that when I come on retirement, I want to be a peace ambassador working for peace in my area. That’s the Tamale area because Northern Region has a lot of conflicts so I want to ae sure that I will work hard to see how we can help to bring peace to the region and especially tell the young people there to cultivate the peace –the culture of peace so that when they have any issue, they will rather look for peaceful means of resolving them rather than sticking to violence. When I came here I decided that I was going to focus on the church work and not allow the family to be in the way. So I think during retirement I will have more time to visit a home and to work more in the extended family to encourage the young ones to go higher in their education, to work for peace and also to tell them about the Lord Jesus Christ. Because most of my family members are still Muslims so I will like them to know the Lord Jesus. So I 249 University of Ghana http://ugspace.ug.edu.gh will have a lot of work to do so I will have to play that critical role in the family. 15. Do you think the Presbyterian Church of Ghana has the capacity to prepare her ministers towards successful retirement? a. If Yes/ No, kindly explain. The church has the capacity and is very capable of doing it. For now, looking at our financial position, we are very rich so the church has a lot to do. Ha a lot of ground to do, to build their financial base. Because the church is still struggling but there are local congregations that are far rich. So the head office doesn’t have that money at all. That’s why I’m saying they need to do ground work. If they can do these well, we can mop-up this money and they can centralize it then we will be able to do that. But as it is now, standing on the general assembly council has no Presby church that can address the financial situation we are in. But I believe, I’m also hopeful that if we can come together and face this squarely and we want to bring about a change, we can do it. But where we are now, we need to do more in order to assure all that there can be a good future Follow-up question Don’t you think the Presby Church is older than other younger churches who are doing better than Presby? Do you think with management still they can’t do it? The thing is the Presbyterian Church of Ghana is very large and it has a lot of responsibilities, a lot of commitments so we should have been working out a 250 University of Ghana http://ugspace.ug.edu.gh strategy to get all these. But as I said, our current situation is that we are not able to do it. I’m still hopeful because we have the resources. We have the human resource and also the money that’s why I am saying if we can mop it, we can have, manage it, we do some of all those things. You see the church has got some very good plans, for instance if our investment were working well for us like our printing press and all the businesses that we, if all should be working well to bring in the money, then we will secure the future for everybody but we all know the story. 16. What factors are likely to aid the church if it wants to carry but effective retirement preparation of its ministries? Yes. The factors will be like selfishness, unfaithfulness and lack of will if this. Follow-up question Is it lack of management or it is good leadership? Maybe a combination of both factors otherwise the Presbyterian Church shouldn’t be going through the struggle that they we are facing now. Because if they trust people and give them and they rather amass wealth and always come and declare debts and debts then we really throw all our investment away. I know the church has made some and they did not yield any much for us. But I know that by the grace of the living God and then maybe your research will give us some strategies to how to handle this issue. So I am very hopeful that the Lord will guide and help the church so that our future will be secured because I believe that the God we serve is a living 251 University of Ghana http://ugspace.ug.edu.gh God and he cares so as we search for God, he will continue to guide and help us to reach and find a very fruitful solution to this challenge. 17. What recommendations would you like to make towards this research work? I want to recommend for choosing this it’s very relevant, a topical issue and that information could help us in our research to strategize. So I want you to do quality work, do excellent work and then, so that it will just let you have a degree but rather help you solve a problem, a very penitent way. So that we can always refer to Esther. That Esther was able to help us solve this issue. A working tool to help us or something like that. And then I also want you to do this thing because I know it will go beyond just the church scope. You are contributing to knowledge and it could have been beneficial. Yes. Beyond the church and then it could be of help to so many more. Exactly. So see it as part of your call so you can guide us this way. So pray for God’s wisdom and grace then you can be a consultant in this area to help to look at these issues very well. 252 University of Ghana http://ugspace.ug.edu.gh IGMAS DEMOGRAPHIC DATA Name : Rev. Fred Apete Age : 69 Marital status : Married; 1st Wife died and second wife (16 years) Educational Level : Master’s Degree Length of years served : 25 years Sex : Male Number of children : 4 PREPARATORY QUESTION 1. Please can you briefly share with me your experience as Minister in the Presbyterian Church in Ghana? When by God’s grace I had the opportunity to become a minister of God, I was assigned as a chaplain in a school and this enhanced my capacity because I believe God is needed everywhere and education without God makes labour go waste. Because of the notion, I joined the chaplaincy because I had cooperation with stakeholders, the board, and I was given advice. It also enhanced my individual drive because I was given full cooperation because even though I was a teacher, I was also a minister and the way I perform to the Glory of God, I had a very good exposure. I had the zeal to be useful in many areas of the church since I was a teacher. When I came out as a full time, within a few years, I was elected for higher portfolio in the church. 253 University of Ghana http://ugspace.ug.edu.gh 2. Can you briefly tell me some of the retirement plans available for ministers in Presbyterian Church of Ghana? When Rev Prof Mantey became the Monitor, preparation or any arrangement toward retirement of ministers has been the practice, I am saying this because I had the opportunity to be at the General assembly where issues of retirement came up. The way retired ministers are managed is very deplorable, until he came in to raise their stipend. When I took office then they were taking something less than GH200.00 and now it has been raised depending on the background of your qualification. If you come out with a light qualification, you can earn about GH700.00 or GH800.00.But earlier, it was very difficult for the retired ministers. 3. At what point of your work as ordained Minister did you become aware of these retirement plans? I wasn’t into full time ministry. I only entered full time ministry after I retired from Ghana Education Service at age 60. I wasn’t into full time ministry before I retired. I was a minister and also working under Ghana Education Service. So I didn’t receive anything from the church as retirement benefit. Not even a handkerchief. 4. What pre-retirement financial preparation are you currently making? Personally, I have actually involved myself in saving something on my own and also the head office activated the facility now where ministers can use, so I have cautioned myself that all documents are done in the right way so that benefits that I am supposed to receive is duly given to me. 254 University of Ghana http://ugspace.ug.edu.gh 5. What are some of the factors you will consider when making your financial retirement plan? Some of us are healthy and are assured to live longer. It is a fact that you must consider how you will live your life. Secondly, I am making sure that my children are very stable in terms of education so that they can help me when I can’t. I have made provision for a place to lay my head when I go on retirement and also some investment. This is not from the church. 6. What challenges are you encountering in financial preparation for retirement? In as much as I wanted to prepare towards the future, I am still promulted to maintain the youngest one who is still in school. Aside her, one of the challenges also is economic inflation. I have also become the head of a small family with a lot of responsibilities. That is also a challenge. 7. How are you addressing these challenges? Thankfully, I have a very good co-operation with my wife who was also a professional teacher. So we put our heads together so that we have a stable plan. We squeeze ourselves a little also at certain times. We have also invested in some farms. Follow up question: Your daughter who is now at SHS. Are you having an educational policy for her now that you will be leaving soon to retirement? Currently No but I’m planning. 255 University of Ghana http://ugspace.ug.edu.gh 8. What psychological preparation are you making for retirement? Psychologically I have seen that I must maintain a good health and take care of my body, my personal life and not to involve myself in anything that will bring me down. This doesn’t only apply to me; but my wife and the children. 9. How have you plan to cope with retirement psychologically? The family is always together so that wouldn’t be a problem. 10. What are some of challenges you think you may encounter socially after retirement? The first challenge that I think of is family issue. Another thing that I will say is that the church will have to realization to actually support the retired ministers like Prof Amartey. 11. What social preparation have you made? Am always in my church and talking to people. 12. What preparation have you made for: a. Where to live b. Relationship with church and society c. Family engagement d. Job of spouse e. Current age of youngest child Am planning to go to my hometown when I go on retirement. However, am giving Glory to God because the church protected me and helped me climb the ladder. So now they still have an entire population that anytime there is any activity that need any support, I will be willing to help. Relationship with the 256 University of Ghana http://ugspace.ug.edu.gh society is unpredictable because the society is unpredictable but all the same, I pray that when I get there, I will comport myself and limit myself to some basic things that I can relate well with them. My wife is a teacher. My first born is 41 years of age and the last born is a student. Follow up questions: What are the differences in gender with the retirement? The women are focused and take good care of themselves but the men do not usually take good care of themselves. The men tend to commit themselves in so many areas like drinking and family, lackadaisical habits and so on. The involvement in many things on the past of retired ministers tend to affect them negatively. Women usually limit themselves. Physically, they know they are not strong to be engaged in such things. 15. Do you think the Presbyterian Church of Ghana has the capacity to prepare her ministers towards successful retirement? a. If Yes/ No, kindly explain. Yes! If Prof Amartey crested some initiative and was supported, then the church has the capacity to prepare their ministries toward successful retirement. Therefore something must be done now by the church. Awareness must be created so that they become sensitized in education and seminars even before we are about going on retirement. There must be a forum to prepare their minds and to see what they are doing towards retirement. 257 University of Ghana http://ugspace.ug.edu.gh 16. What factors are likely to hinder/aid the church from carrying out effective retirement preparation for her ministers? In the first place, I believe rallying people for understanding is a hindrance. Change can be done through education. Secondly, the resources that maybe involved are also a hindrance. Resources that they can start themselves in one way or the other can hinder them. Human fatigue can also be a hindrance. I always pray to God that before I come as a retired minister in full time, I must have somewhere to lay my head. And because I started ministry in areas where I saw they were retired people, it raised my consciousness that tomorrow if I don’t take care, I will be like them. And therefore I should sit up. So gradually before I came out, at least I had my key to say that tomorrow, I can perch here. Follow up question Please can’t you give us any evidence of a minster? You can mention his name or not. One minister that you know who didn’t plan and what happened to him that has energized you. We want evidence based because we can’t read any literature on that. There is one SL Amboh who died recently. If you go to visit this man in his house who has been a retired teacher, you can see that he didn’t make any plan for his last days. Even a place to sit in his house was a problem. During his death, was very memorable. When I was at the Presbytery, one person told me to come and see them and see what they are doing. Meanwhile, there was one other teacher Minister, Mr. Adotey with very nice house and well taken care of children. One thing to know is that when your background is good, you live longer but when your background is bad, you will die quickly. Therefore the consequence of not preparing towards retirement is very bad. 258 University of Ghana http://ugspace.ug.edu.gh 17. What recommendation would you like to make towards this research? Your program is very good and I will be praying with you and support you for everyone to know and see that you are taking a very good initiative. I encourage the church that they can do it. If other churches are able, how did they do it? Meaning we can also do it. 259