Pre-retirement Education and Financial Security among Senior Citizens in Nigeria Tertiary Institutions

The study focused on pre-retirement education and financial security among senior citizens in Nigerian tertiary institutions. A descriptive survey design was used for the study. The population of the study comprises all senior citizens in tertiary institutions in Nigeria, while the target populations were senior citizens aged 55 years and above from which 100 respondents were purposively selected and this constituted the sample for the study. The instrument for data collection was a structured questionnaire titled ‘Retirement Education and Financial Security of Senior Citizens’ (REFSSC). The instrument was content validated by the experts. The overall reliability estimate of 0.76 was obtained using the Cronbach Alpha. Two research questions and two hypotheses were formulated to guide the study. The data collected were analyzed using mean and standard deviation to answer the research questions, while the one sample t-test statistical technique was used to test the hypotheses. The findings of the study revealed that among the senior citizens, pre-retirement education is not well embraced which resulted to financial insecurity. The aged people’s financial security was in doubt after leaving active service due to unsuitable pension scheme and their welfare are not adequately taken care of. Based on the findings, the researcher recommended among others that there should be proper and adequate pre-retirement education among senior citizens and that more awareness should be created to engender adequate financial security among senior citizens in Nigeria tertiary institutions and beyond.