The study “Life After Retirement” conducted by the Knowledge Management Department at the Sharjah Social Services Department, on a deliberate random sample of 125 retirees (40-70 years old) from different regions of the country, recommended the establishment of an investment fund targeting employees during their service period, with the fund being managed by one of the government financial entities, with the aim of encouraging employees to contribute to this investment fund and invest their good income status during their post-retirement work period, as no returns or profits are disbursed for the employee’s shares until after retirement, which represents a source of income support after leaving the job, thus reducing the financial crises facing the employee after retirement due to the gap between income before retirement and income after retirement..
The study revealed, through analyzing the problems facing retirees, that according to 90.4%, the most common problem facing retirees is the decrease in retirement income compared to the income before retirement. About 35.2% of retirees faced the problem of feeling empty and lack of activity, while about 31.2% mentioned the problem of weak job opportunities for retirees despite their ability to work..
The average monthly salary for a year before retirement was (26044.5) dirhams, and it decreased after retirement to an average estimated at (19992.3) dirhams, meaning that the current income after retirement decreased compared to the salary of the last month before retirement by about 23.25%. The retirement salary for women represented about 57.2% of the retirement salaries for men, while the expected income to achieve living sufficiency was about (31252.2) dirhams per month. This means that the current income represents only about 64% of the expected income to achieve sufficiency. About 70% of the study sample indicated that the retirement salary was not sufficient to a large extent or was relatively insufficient..
The study showed that the retirement decision was personal for about 33.9% of them, and about 28.2% indicated that it was due to health conditions, while about 25% retired because they reached retirement age. The study showed that about 48% of the sample do not have permanent health insurance, compared to 39.2% who have permanent health insurance, and 12.8% who have partial health insurance..
She also explained that 44% of the sample did not have any chronic diseases, while chronic diseases varied among about 56% of the sample of retirees, including joint pain, rheumatism, poor eyesight, poor hearing, and other chronic diseases. About 78.4% of retirees were not contacted by any of the pension funds. About 72% of the sample were satisfied with their lives after retirement, with complete satisfaction at about 38.4%, while relative satisfaction was at about 33.6%, while about 13.6% were dissatisfied, and about 14.4% were unable to determine whether or not they were satisfied with their lives after retirement..
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