Aging Retirement Plan and Coping Approaches Among Nurses in the Academe and Hospitals

Abstract

Retirement is a stage where usual activities become less and with some limitations. Without proper planning, work must continue even reaching retirement age. Adaptive coping must be a meaningful experience for retirees in dealing with retirement demands. This study aimed to appraise aging retirement plans and coping approaches to retirement among nurses in the academe and hospitals in Cagayan de Oro City. Descriptive correlational and multiple regression as statistical tools on 291 voluntary participants. Aging retirement plans and coping approaches to retirement revealed high positive outcomes. It indicates that nurses regarded aging retirement plans and coping approaches to retirement as vital elements for personal and professional growth. A significant relationship exists between coping approaches to retirement according to gender, length of work experience, and the number of family dependents. Likewise, significant relationships exist between coping approaches to retirement and aging retirement plans according to self-rated knowledge of financial planning for retirement and financial risk tolerance. The regression model is not significant on variables that predict coping approaches to retirement. Hospitals and academic institutions may develop a comprehensive retirement policy on aspects of retirement gearing towards realizing nurses’ adaptive coping approach to the retirement demands.