Retirement Benefits and the Well-Being of Pensioners in Ilala City, Dar Es Salaam – Tanzania.

Abstract

The study on which this dissertation is based assessed the role of retirement benefits on the well-being of pensioners in Ilala City, Dar es Salaam, Tanzania. Specifically, the study identified the level of well-being of pensioners after they received their retirement benefits; determined the determinants of retirement benefits for the well-being of pensioners; and evaluated the relationship between retirement benefits and the wellbeing strategies of pensioners in Ilala City. In this study, a cross-sectional research design was used to collect both qualitative and quantitative data. A sample of 100 pensioners and 12 key informants, such as pension officers and group leaders from pensioner groups, were chosen using simple random and stratified sampling. As data collection methods, questionnaires and interviews were used. For qualitative data, content analysis was used, and for quantitative data, SPSS version 12 was used, with frequency, percent, and multiple regression analysis performed. According to the study findings, independent variables such as monthly pension, lump sum amount, and training have a positive relationship, but monthly pension has a high correlation to wellbeing (food consumption, asset ownership, and income generating activities), implying that good retirement benefits are associated with good well-being. However, the results show that a lump sum amount has a negative relationship with happiness, as the level of significance is greater than P≥0.05. The study recommended that public servants invest in long-term investments before retiring in order to maintain their well being.