Authors: Lucy Jepchoge Rono; Ester Agasha; Charles K. Lagat
Addresses: Department of Accounting and Finance, School of Business and Economics, Moi University, P.O. Box 3900, Eldoret 30100, Kenya ' Faculty of Commerce, Department of Finance, Makerere University Business School (MUBS), Plot 21A, Port Bell Road, Kampala, Uganda ' Department of Marketing and Logistics Moi University, P.O. Box 3900, Eldoret 30100, Kenya
Abstract: This study aimed to establish a relationship among financial factors, psychological factors, personal factors, entrepreneurial intensity and intentions to retire among employees in Kenyan public universities. The study was guided by the theory of planned behaviour (TPB). A survey of 384 employees from seven public universities in Kenya was done. The findings indicate that collectively financial factors, psychological factors, personal factors, entrepreneurial intensity explain a significant portion of variability in employees' intention to retire. The study also revealed that own investment and social security are significant components of financial factors predicting intention to retire. Also, work attachment is a significant component of the psychological factors predicting intentions to retire. The study recommends that employees should have physical and financial investments before making decisions on intentions to retire. Employers should put in place social security and medical insurance cover for their workforce to enhance financial security and encourage intention to retire.
Keywords: retirement; retirement intention; Kenyan public universities; psychological factors; financial factors; personal factors; entrepreneurial intensity; the theory of planned behaviour; financial investments; social security.
Journal for Global Business Advancement, 2021 Vol.14 No.1, pp.46 - 69
Received: 13 Dec 2019
Accepted: 15 Jan 2021
Published online: 09 Apr 2021 *