The Relationship between Job Satisfaction, Financial Stress and Sufficient Retirement Savings of Near-Retirement Pastors in Southern Africa

Abstract

The juxtaposition clergy are placed in; in relation to their calling and the lack of emphasis that is placed on finances and consequently financial management, requires consideration. The objective of this article is to examine the relationship between job satisfaction, financial stress and adequate retirement savings of near-retirement pastors in Southern Africa. The method of data collection (quantitative) was executed by distributing structured questionnaires among South African Dutch Reformed pastors who are retiring within the next 5 years. The respondents indicated high levels of job satisfaction and low levels of stress, even though high percentages indicated that they are either uncertain or did not save enough money for retirement. It was found that there is a relationship between job satisfaction, financial stress and adequate retirement savings and that if clergy have adequate retirement savings, this will have a positive relationship with job satisfaction and financial stress. Clergy find themselves in a unique position towards their calling and their finances and therefore need a more structured approach to their personal financial management. Because their relationship with God and money is so distinctive, so should be the guidance they receive with regards to it.