Effects of Family Characteristics and Work Relationship on Retirement among Teachers in Agona West Municipality, Ghana

Family characteristics and work relationships have effects on teachers’ retirement decision-making in the country. This has led to much frustrations of life for some retired teachers in Ghana. The study was guided by the following research objectives: Effects of family characteristics on retirement decision-making, the influence of work relationships on retirement decision-making and the strategies that can be put in place to improve retirement decision-making among teachers. A quantitative approach and descriptive survey design were used. The target population comprised teachers in public Basic schools in the Agona West Municipality. 150 teachers formed the sample for the study. Data was obtained using a self-developed questionnaire. It emerged from the findings that high financial demands stemming from home expenses, expectations from family members, and being first-borns hindered individuals’ ability to save and plan for their retirement. Also, it revealed that teachers in the Agona Swedru Municipal place considerable importance on their interactions with colleagues when it comes to retirement decision-making. It was found that teachers in the Agona Swedru Municipal place considerable importance on their interactions with colleagues when it comes to retirement decision-making. It was therefore recommended that retirement planning initiatives and financial education programmes should prioritize offering diverse and adaptable forms of psychoeducation and guidance to cater for the varying expectations and preferences of respondents. Educational institutions and policymakers should encourage and support peer relationships to improve retirement preparedness and satisfaction among teachers in the Municipality. Prioritize and tailor retirement planning guidance and education to address the diverse preferences and needs of respondents.