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ERIC Number: ED536451
Record Type: Non-Journal
Publication Date: 2012
Pages: 13
Abstractor: As Provided
Reference Count: 34
ISBN: N/A
ISSN: ISSN-1548-6613
Retirement Planning and Counseling: Issues and Challenges for Teachers in Public Schools in the Sekondi Circuit
Wilson, Kwesi Nkum; Aggrey, Ellen Aba Munkua
Online Submission, US-China Education Review A 8 p755-767 2012
The purpose of the study was to explore retirement planning, challenges, and counseling among teachers of public schools in the Sekondi Circuit in the Western Region, Ghana. A sample of 50 teachers was selected through convenience sampling. Only teachers who expressed interest in participating in the study were sampled. The main instrument for collecting the data was questionnaire, which had a reliability co-efficient of r = 0.81 (Pearson's Product-Momentum Correlation). Descriptive and inferential statistical tools were used in analyzing the data collected. The results of the study indicated that the major retirement counseling that teachers in the Sekondi Circuit receive is the discussion on conditions of service and the retirement benefits based on Social Security Pension Scheme. It was also found that poor attitude towards savings, lack of knowledge in investment decisions, ignorance of what to do with pension money, and difficulty in time management were the main challenges faced by teachers in the Sekondi Circuit in their retirement planning. Furthermore, it was found that apart from the Social Security Pension Scheme, teachers in the circuit do not have any other ways of securing their future when they retire from active service. It was recommended among others that the education directorate should counsel all the teachers they recruit once they offer them appointments. Finally, there is a need to strengthen the Counseling Units of the Ghana Education Service, so as to counsel and guide teachers in their retirement preparation and planning. (Contains 5 tables.)
Publication Type: Journal Articles; Reports - Research
Education Level: Elementary Education; Junior High Schools
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Identifiers - Location: Ghana
Identifiers - Laws, Policies, & Programs: Social Security