SSSD presents complete study of life after retirement

One of the government's financial institutions should maintain this fund to encourage employees to contribute, leveraging their strong earnings during their working years for post-retirement rewards. The government would not pay out dividends or profits from the employee's shares until retirement, which would provide a source of income assistance after leaving the job and prevent financial crises caused by the income gap between before and after retirement.

Online platform for retirees

The study also suggested developing a dedicated website or social platform for retirees to attract people who make regular contributions, allowing them to invest their time and benefit from their practical and intellectual experiences. This platform would allow users to share their ideas and initiatives, perhaps helping to establish social, economic, and health projects in a variety of disciplines.
 
Annual forum

The recommendations called for the creation of an annual retiree forum to exhibit successful experiences and spread information on how individuals and retirees might devote their time to avoid isolation after quitting a normal job. The recommendations also suggested the creation of volunteer opportunities in various institutions to provide community services, as well as the training and equipping of retirees with a background in human sciences to serve as consultants providing social guidance to children and families. This reflects the most effective use of retirees' lives and human experiences to benefit the community, family, and children.
 
Activating institutions 

Prominent recommendations included the significance of psychological rehabilitation programs and life skills for employees approaching retirement in order to mentally prepare them for the changes that will occur during this time. It also underlined the importance of activating the role and services of retiree associations in order to encourage them to support retirees, particularly in the implementation of programs and activities that promote chances for active retirement.

Dr Jassim Al Hammadi, Director of the Knowledge Management Unit, remarked that studies on the elderly and their retirement are important topics for a substantial segment of all societies, as everyone in the formal work market would eventually reach this age. The relevance lies in the variety of lifestyle, social, physiological, psychological, and economic changes that people adapt to over time and exacerbate as they age. Numerous studies on aging concerns revealed that changes associated with this period include life satisfaction, psychological well-being, and happiness.

He explained that the study's significance rests in its findings, which describe the current status of retirees and propose a vision for transforming it into the concept of healthy ageing, which many policies and programs strive for. Individual post-retirement activities clearly link to this positivism, which encourages retirees to actively participate in overcoming social, psychological, and potentially economic challenges.

DrAl Hammadi stated that the study, one of the few on retirement issues at the Arab level, sought to understand retirees' new life situations post-retirement from economic, social, and psychological perspectives, as well as the adequacy of income after retirement and retirees' perceptions of health and social security services post-retirement.

Income reduction
When examining the challenges that retirees face, almost 90.4% stated that the most significant concern is a decrease in retirement income compared to pre-retirement income. About 35.2% of retirees experienced feelings of idleness and decreased activity, while approximately 31.2% reported a lack of job opportunities despite their ability to work. One year before retirement, the average monthly wage was AED 26,044.5, which decreased after retirement to an average of AED 19,992.3, representing a 23.25% loss in income from the previous pre-retirement salary. Women's retirement salaries were roughly 57.2% of men's, whereas the needed monthly income to meet living expenses was around AED 31,252.2. This suggests that the existing income equals approximately 64% of the needed income for sufficiency. Approximately 70% of the survey population stated that their retirement salary is largely insufficient or relatively insufficient.

Personal decision
According to the report, 33.9% of respondents retired for personal reasons, 28.2% retired due to health concerns, and around 25% retired because they reached retirement age. The survey found that around 48% of the sample lacked permanent health insurance, 39.2% had permanent health insurance, and 12.8% had partial health insurance. About 44% of the sample is devoid of chronic disorders, whereas 56% of retirees have chronic diseases such as joint pain and rheumatism, visual impairment, hearing loss, and others. About 78.4% of retirees reported receiving no communication from their retirement funds. Approximately 72% of the sample is content with their life after retirement, with 38.4% fully satisfied, 33.6% reasonably satisfied, 13.6% dissatisfied, and approximately 14.4% unable to define their satisfaction level.