Factors influencing time to death after retirement in Kenya

Abstract

The study on the time to death after retirement has been done previously, specifically in developed countries. Studies on the average age of survival postretirement and determinants of time to death have however not been done in Kenya. Of the studies that have already been conducted, mortality of retirees has been associated with age at retirement, gender, the retirees' socio-economic status and early retirement. The consensus on the survival or mortality of people who retire early and those who retire later has not been grounded till date. Mortality in retirement •years and interventions put in place to address the issues should be determined. This study will incorporate the life table method, which is widely used in determining life expectancy, to determine the life expectancy of a Kenyan retiree. The end of the guarantee period is calculated with life expectancy inherent, therefore, once the life expectancy is determined, it will aid in determining the cessation of life annuities. Over the years, retirement has been seen to lead to death, however, this can be aided if employers get a hold of information like this and accordingly advise their employees. This study attempts to determine the time to death and the factors that lead to mortality after retirement in Kenya. The factors taken into consideration are, the age at retirement, socio-economic status (derived from the monthly pension paid to the retiree) and gender. The study concluded that chances of early death are increased by early retirement. It also seeks that other factors such as the health status of the retiree be incorporated to ensure that the retiree's death was not hastened by the fact that they were not healthy on retirement.