Relationship Between Social Economic Status Of Retirees And Retirees’ Lifespan In Tanzania. A Case Of Psssf Anna

ABSTRACT

This study intended to establish the relationship between each of the selected social economic variables i.e. age at retirement, gender, and monthly pension, and the lifespan of retirees in Tanzania. The study employed quantitative research approach and diagnostic research design to measure the relationship between social economic variables of retirees and retirees’ lifespan in Tanzania. The nature of the data used was secondary, collected from Public Service Social Security Fund (PSSSF). The simple and multiple regression was used to measure the degree of association/effect uniquely and collectively between each of the independent variable and the retirees’ lifespan in Tanzania. On testing the relationship between variables, the study found age at retirement having a significant positive effect to the lifespan of retirees in Tanzania; implying that, the older it takes for someone to retire, the longer the expected lifespan tends to be. The study further found, gender with a significant weak positive effect to the lifespan of retirees, though, male mortality rate was found to be higher than the females. Lastly, the study found weaker negative effect of monthly pension on the retiree’s mortality. Since the findings show that late retirement impacts on increased longevity then, this study urged the government has to think of increasing the retirement age above sixty years of age. Moreover, the study recommended that the government and other stake holders should come up with policies which will favor the quality of life of retirees; this includes provision of special subsidized facilities for the retirees, for example subsidized college fees for those who would want to spend their time studying and subsidized medical fees or medical covers.