Exploring the Preparedness of Ghanaians for Retirement and Ageing: A Case Study of the Cape Coast Metropolitan Area

Abstract

Introduction; There is evidence of the inability of older people in Nigeria, Ghana and other developing countries to sustain themselves through savings, assets or pensions. This situation highlights the minimal benefit of pensions, savings or assets as income sources for older people; old age very often brings poverty and disability. Methodology: A qualitative interpretive design informed the study. The study area was categorized into three distinct ecological areas namely urban, periurban and rural areas. Twenty interviews and three focus group discussions with 68 elderly persons were conducted in ten sub-districts in the Cape Coast Metropolis, Ghana. The forty-eight elderly individuals were put into groups of 8, 20 and 20 for the focus group discussions. Data was thematically analysed. Results: Four major themes and subthemes were identified to reflect the pertinent issue of exploring and defining the preparedness of people for their retirement and ageing. There was evidence that preparing for old age is not an active precedent for the people of Cape Coast and they still believe in the traditional system of caring where it is the sole responsibility of the family to care for its own aged members. Conclusion: It is evident that formal care is not practiced in Ghana and that the aged therefore find the idea bewildering. They want to experience this care, but existing norms expect the family members to single-handedly provide care for their aged