Valley International Journal Digital Library

VIJ Digital library
Articles

Strategizing for the Future: A Mixed Method Approach to Department of Education Employees Retirement Readiness and Lifestyle Planning

PDF
  • Flor Angelie M. Tolondon,
  • Gaudy C. Ortizo
Flor Angelie M. Tolondon
Department of Education, Division of South Cotabato, Koronadal City 9506,
Gaudy C. Ortizo
Notre Dame of Dadiangas University Marist Avenue, General Santos City 9500,
Published in : International Journal of Scientific Research and Management (IJSRM) , Vol. 12 No. 03 (2024)

Submission to VIJ 2024-04-17

Keywords

  • Retirement Readiness,
  • Retirement Lifestyle,
  • Retired Employees,
  • Retirement Preparation,
  • Lifestyle

Copyright (c) 2024 Flor Angelie M. Tolondon, Gaudy C. Ortizo

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

This study determines the relationship between the level of retirement readiness and the extent of the lifestyle of DepEd employees to come up with a retirement readiness program. This is an explanatory sequential mixed-method study, comprising a cross-sectional survey and interviews was undertaken. Retirement Readiness in terms of health, financial, and contingency planning was examined and the extent of the lifestyle of DepEd retired employees in terms of health, spending habits, and recreational activities were also explored. Survey data were analyzed using Microsoft Excel and SPSS using non-parametric statistics and qualitative data were analyzed using thematic analysis.

Statistical results show that indicators in retirement readiness have a moderate level in terms of obtaining emergency funds and a moderate extent of lifestyle in terms of spending for their needs. This indicates that retirees need to strengthen their ability to establish savings for emergencies and prioritize their personal needs.  Qualitative data shows that in the event of an emergency, essential resources to rely on include dependable communication channels, emergency substances, and the right of entry to emergency services some of these are having financial support from children and finding ways and means to generate funds.

  The results indicate the need for a retirement readiness program that moves beyond merely raising awareness and provides information on a positive health approach, good financial management, and improving socialization skills to provide a holistic approach to the retirement readiness of DepEd Employees.

PDF

References

  1. Skerrett, K., Spira, M., & Chandy, J. (2022). Emerging Elderhood: Transitions from Midlife. Clinical social work journal, 50(4), 377–386. https://doi.org/10.1007/s10615-021-00791-2
  2. Mudrugo, V. (2013) Effect and Changes in Retirement Plan, Thesis, Nigeria
  3. Cabarrubias, K. (2017). Attitudes of government employees towards early retirement. International Journal of Advanced Biotechnology and Research, 8(3), 377-384.
  4. Wildman JM, M. S., Pearce M. (2018). Quality of life at the retirement transition: Life course pathways in an early 'baby boom' birth cohort. Soc Sci Med, Jun(207), 11-18. doi:doi: 10.1016/j.socscimed.2018.04.011
  5. Gallardo, M. C. (2017). Financial literacy and retirement preparedness among university of Bohol Employees. University of Bohol Multidisciplinary Research Journal Print ISSN 2350-7853
  6. Mateo. (2017, October). DepEd finding ways to help teachers in debt. The Philippine Star. Retrieved August 4, 2023, from https://www.philstar.com/headlines/2017/10/28/1753535/deped-finding-ways-help-teachers-debt
  7. Cepeda, M. (2017). Criticisms vs DepEd over teachers’ loans are ‘misplaced’. Retrieved from http://www.rappler.com/nation/188794-criticisms deped-teachers-loans-misplaced-briones
  8. Bangao, B. J. D. (2020). Looking Back to look ahead: the life trajectory. among indigenous people retired teachers in the philippines. https://www.atlantis-press.com/proceedings/icite-20/125948761.
  9. Hernando-Malipot, Merlina (2017). Thousands of DepEd retirees not able to enjoy retirement due to poor financial literacy. https://news.mb.com.ph/2017/06/12/ on May 01, 2019.
  10. Delmo, D., Sarmiento, S., & Bugador, M. (2023). Financial Literacy and Financial Management Practices of Public School Teachers in Barangay Poblacion, Tantangan, South Cotabato (2nd ed., Vol. 7). https://www.theijbmt.com/archive/0950/1349880449.pdf
  11. Subedi, D. (2016). Explanatory sequential mixed method design as the third research community of knowledge claim. American Journal of Educational Research, 4(7), 570-577.
  12. Toyon, M. A. S. (2021, August 8). Explanatory sequential design of mixed methods research: Phases and challenges. International Journal of Research in Business and Social Science (2147- 4478), 10(5), 253–260. https://doi.org/10.20525/ijrbs.v10i5.1262
  13. Bornstein, M. H., Hahn, C. S., & Suwalsky, J. T. (2013). Physically developed and exploratory young infants contribute to their own long-term academic achievement. Psychological science, 24(10), 1906-1917
  14. Creswell, J.W., & Poth, C.N. (2018). Qualitative inquiry & research design. Thousand Oaks, CA: Sage Publications.
  15. Taber, K. S. (2017, June 7). The Use of Cronbach’s Alpha When Developing and Reporting
  16. Research Instruments in Science Education. Research in Science Education, 48(6),
  17. –1296. https://doi.org/10.1007/s11165-016-9602-2
  18. Manyange, M. M. N., Abuga, I. M., & Nyambane, D. O. (2015). Investigating the
  19. Financial Knowledge Management in Selected Ngo’s in Yei County, Republic Of South Sudan.
  20. Dawadi, S. (2020, December 31). Thematic Analysis Approach: A Step by Step Guide for ELT Research Practitioners. Journal of NELTA, 25(1–2), 62–71. https://doi.org/10.3126/nelta.v25i1-2.49731
  21. Creswell, J. W., & Creswell, J. D. (2018). Research design: qualitative, quantitative, and mixed methods approaches. SAGE Publications, Inc.
  22. Ruark, A., & Fielding-Miller, R. (2016). Using Qualitative Methods to Validate and Contextualize Quantitative Findings: A Case Study of Research on Sexual Behavior and Gender-Based Violence Among Young Swazi Women. Global Health: Science and Practice, 4(3), 373–383. https://doi.org/10.9745/ghsp-d-16-00062