UEW Equips Prospective Retirees for a Secure and Purposeful Retirement

Welcoming participants, the Deputy Registrar of the Division of Human Resource, Mr. Reginald S.K. Agbo, commended the prospective retirees for their contributions to the University's growth and development. He encouraged them to see retirement not as the end of productive engagement but as a transition into a new phase of life. With the participants expected to retire at the end of September, he urged them to prepare mentally and practically for changes in their routines, family responsibilities, finances and social lives.

Addressing the psychological and social dimensions of retirement on behalf of the Director of the UEW Counselling Centre, Mrs. Christina Ammah, Dr. John Yelbi, a Counsellor at the Centre, urged participants to approach retirement as a process requiring deliberate preparation. He noted that retirement could bring loneliness, boredom, and a sense of lost identity or social status, but could also provide opportunities for freedom, fulfilment, and new forms of engagement.

He encouraged retirees to cultivate social networks beyond the workplace, maintain strong family relationships, participate in community, recreational and volunteer activities and seek counselling or other support when necessary. He stressed the importance of identifying meaningful activities that would provide purpose in post-service life.

On financial preparedness, the Head of the Universities Staff Occupational Pension Scheme (USOPS) Unit, Mr. Wisdom Kwakutsey Ayekple, who represented the Finance Officer, Dr. Theophilus Senyo Ackorlie, cautioned participants to plan carefully for the sustainability of their retirement benefits. He explained that retirement could substantially reduce income as allowances and other employment-related earnings ceased. He therefore advised prospective retirees to budget prudently, save consistently, establish emergency funds and evaluate investment opportunities according to their individual risk tolerance.

He urged them to factor inflation, healthcare, housing, transportation, family obligations and unforeseen expenses into their financial plans while completing the necessary documentation and updating personal records to facilitate timely processing of retirement benefits.

The Director of University Health Services, Dr. John Kanyiri Yamba, advised prospective retirees to prioritise their healthcare by undergoing regular medical checks and contact with healthcare providers. He noted that ageing could bring changes in physical strength, metabolism and medication needs, making consistent medical monitoring essential. He also encouraged participants to keep proper medical records and make arrangements for anticipated medical devices before leaving active service. He assured them that UEW’s health services would continue to support them within applicable institutional arrangements.

From an entrepreneurial perspective, Dr. Bernard Tutu-Boahene, a lecturer at the Department of Marketing and Entrepreneurship and Vice-President of UTAG, encouraged the prospective retirees to cultivate an entrepreneurial mindset to enhance their financial independence. He advised them to pursue businesses and investments suited to their capabilities, resources and stage of life while avoiding excessive risks.

He cautioned against committing all their retirement or pension funds to a single venture. He encouraged participants to maintain financial buffers, control expenditure and reinvest cautiously. He further urged them to leverage their professional and social networks to identify viable opportunities and remain economically and socially productive.

The workshop underscored UEW’s commitment to supporting its staff beyond active service, providing prospective retirees with the knowledge and practical tools to approach retirement with confidence, financial resilience, good health and a renewed sense of purpose.