ASSESSMENT OFTHE RETIREMENT PLANNING BEHAVIOR OF SECONDARY SCHOOL TEACHERS IN IFE CENTRAL LOCAL GOVERNMENT AREA, ILE IFE, OSUN STATE

The study examined the retirement planning behaviour of secondary school teachers in Ife Central Local Government Area, Osun State, with emphasis on their awareness of retirement issues and preparedness for life after formal employment. A descriptive survey research design was adopted. The population comprised secondary school teachers in the area, from which 100 respondents were selected across six schools using a two-stage sampling technique to ensure gender and experience representation. Data were collected through a structured questionnaire and analysed using descriptive statistics such as frequencies and percentages. Findings revealed a generally high level of awareness of retirement among teachers. About 91.4% strongly agreed that retirement requires early planning, while 90% acknowledged the importance of knowing their exact retirement age. In terms of preparedness, only 62.9% were considered prepared for retirement. Although 55.7% of respondents consistently contributed to pension funds and 72.9% maintained healthy lifestyle choices, just 22.9% had multiple income sources planned for retirement. Teachers also reported strong use of budgeting tools and digital financial planning platforms. However, several barriers to adequate retirement readiness were identified, including low salaries, heavy family responsibilities, inadequate pension education, and insufficient financial literacy. The study concluded that while secondary school teachers in Ife Central possess substantial awareness and moderate preparedness for retirement, many still face significant structural and financial constraints that limit effective retirement planning. It therefore recommended improved pension education, strengthened cooperative societies, encouragement of side businesses, and broader financial literacy initiatives to enhance teachers’ retirement preparedness and long-term financial security.