Perceptions of Retirees on some Correlates of Retirement Well-Being in Ogun State, Nigeria

This study investigates the perceptions of retirees in Ogun State on some correlates which enhance retirement well-being with a view to determining if literature recognises correlates which are mostly foreign applies to retirees in a Nigerian setting. The study adopts a descriptive survey research design and a sample size of three hundred (300) retirees from Ogun State, who are above the age of sixty years, and purposively selected through simple random sampling technique. A Standardised Retirement Resource Inventory (r= 0.82) developed by Leung and Earl, (2012) was used to obtain data for the study. This was complemented with two sessions of focus group discussions. Two research questions were raised. The data was analysed using Pearson Product Moment Correlation and Multiple regression Analysis. The result shows that health and income are perceived by the retirees’ as the more important correlates in attaining optimal wellbeing. Further, most Nigerian retirees suffer financial incapacities especially those who retired before 2004. They were mostly affected by finances due to non implementation of the harmonisation policy of pension scheme to meet the present market value.