An assessment of employees' intention to retire in Kenya

Abstract

This study aimed to establish a relationship among financial factors, psychological factors, personal factors, entrepreneurial intensity and intentions to retire among employees in Kenyan public universities. The study was guided by the theory of planned behaviour (TPB). A survey of 384 employees from seven public universities in Kenya was done. The findings indicate that collectively financial factors, psychological factors, personal factors, entrepreneurial intensity explain a significant portion of variability in employees' intention to retire. The study also revealed that own investment and social security are significant components of financial factors predicting intention to retire. Also, work attachment is a significant component of the psychological factors predicting intentions to retire. The study recommends that employees should have physical and financial investments before making decisions on intentions to retire. Employers should put in place social security and medical insurance cover for their workforce to enhance financial security and encourage intention to retire.