Evaluating the pre-retirement programme of the Namibian Government Pension Fund (GIPF)

Abstract

The GIPF pre-retirement programme has the primary aim of comprehensively addressing retirement planning and the typical risks that retiring/older persons endure. Even though the programme is implemented in Namibia with all public officials, there is a gap in the knowledge as to whether the programme is effective or not, especially pertaining to the attitudinal and behavioural change of programme attendees. The goal of the research was therefore to evaluate the GIPF pre-retirement programme in terms of attendees’ attitudinal and behavioural change. In order to achieve this goal, the study embarked upon programme evaluation as a type of applied research. A quantitative research approach was adopted, where a quasi-experimental research design (specifically the one group pre-test post-test design) guided the researcher to collect the data and compare results prior to and after attending the GIPF pre-retirement programme. Data were collected from respondents that attended the programme from the Ministry of Education in the Oshana and Omusati Regions, Namibia. The pre-test level consisted of 37 respondents and 31 respondents at the post-test level. The researcher made use of a non- probability sampling technique; specificallythe volunteer sampling method was utilised, of which respondents could offer their participation voluntarily. The respondents completed a self-developed questionnaire before and two months after attendance of the GIPF pre-retirement programme, as this enabled the measurements of the effectiveness of the independent variables on the dependent variable in relation to attitudinal and behavioural changes. Respondents had a choice to complete the questionnaire in English or Oshiwambo, the common local language, with the guarantee of confidentiality. The validity of the questionnaires was assured by face and content validity. Data were analysed using the Statistical Packages Social Science (SPSS) version 22 with the assistance of a statistician from the University of Namibia. It was concluded that the GIPF pre-retirement programme has both strengths and limitations when interpreted from a social development perspective. Amongst the strengths of the GIPF pre-retirement programme are that, the majority of the attendees indicated the importance of retirement planning and the majority of respondents indicated that before exposure they were not confident at all with their investment for retirement and their confidence level of investment increased after attendance of the GIPF programme. The GIPF programme was perceived to be valuable as the majority of the attendees made efforts to reduce their debt and to seek personal financial advice. The research results indicate that the respondents have gained a positive mind shiftduring the post-test level. The results also highlighted the recommendations to continue with the programme. The limitations of the GIPF pre-retirement programme are that the respondents’ desire to retire reduced after the programme exposure, and they remained concerned of their preparedness for retirement. The respondents did not consider leisure time and medical aid as important factors for retirement and the majority of the attendees felt that the programme was being conducted at the verge of retirement, which was considered as too late. Recommendations for future research are, amongst others that a similar empirical study must be conducted at all GIPF regional offices, to determine the impact of the GIPF pre-retirement programme with regards to attitude and behaviour towards retirement preparation as it would ensure generisability to enable the results to be applied to the greater population of the public servants in Namibia.