ROLE OF PENSION AND GRATUITY ON SOCIAL - ECONOMIC INTEGRATION ON RETIREES IN UGANDA: A CROSS SECTIONAL STUDY.

Abstract

Background:

The present study explored the role of pension and gratuity on the socioeconomic integration in the life of UPDF retirees in Uganda in the case of Wakiso District.

Methodology:

The survey data were collected from 21 administrators and 400 other ranks of UPDF retirees within Wakiso District. The survey data was collected from a sample size of 215 respondents of which 196 returned questionnaires, with 6 interviews conducted. The design was a cross-sectional survey and the data was collected using questionnaires and interview guides. 

Results:

According to the respondents, Pension had an average positive response rate of 71% indicating a positive impact with 28.6% alternating negative impact, Gratuity had a 54.4% Positive impact on the social economic integration of retiree and 44.2% negative impact, the general social economic stature of retirees had 57.5% by average agree with retirement life and concepts, 20% strongly agree, 10.25% disagree and 0.124% strongly disagree with the retirement life and concepts. More to that from the Column Chart, an average rate of 63.8%, however, 38.2% by average responses mentioned that they were not knowledgeable of anything about retirement and its benefits. 

Conclusion:

Based on the findings above, pension and gratuity have played a very vital role in the social economic integration of the life of UPDF retirees. 

Recommendation:

It is recommended that the organization should carry out In-service skills training, training on retirement, financial management, Academic Training, Revision of the pension formula, Rehabilitation, psychosocial support and resettlement, foreign mission deployments, Civil jobs Empowerment, entrepreneurship training after service follows up as the retirees transit in life.