Lifestyle of pensioners : challenges and coping strategies

Abstract

The main aim of this dissertation was to research what constitutes a typical lifestyle of pensioners in retirement and also identify what are the challenges that such pensioners have to face. The dissertation looked at such experiences from a qualitative perspective as it was noticed that past research studies were carried out were from a quantitative perspective. To be able to analyse this subject in-depth, semi-structured interviews were chosen and carried out with 15 pensioners. Snowball sampling was chosen as the best method to reach pensioners who were interested to participate in this research. Data collection was analysed through thematic analysis in which five major themes were identified. The first theme is lifestyle in which this is sub-themed into purpose of life and post-retirement employment. The other four themes are experiment, poverty, welfare assistance and feedback given by pensioners regarding budgeting measures. The study found that although pensioners do not have the same pensionable income, there are some common expenditures and common elements in the lifestyles that pensioners illustrated. Furthermore, a general finding which was brought out is that pensioners perceive budgeting and prioritising their choices and expenses as a key feature in retirement. In addition to these findings, it was also noted that since pensionable income varies, those pensioners with a relevant low pensionable income tend to struggle more when compared to those with a high pensionable income. Thus, a change of approach towards retirement and lifestyle adopted is also different. Therefore, a conclusion that was drawn out is that pensioners with a low pensionable income tend to experience much more struggles especially financial and hence it is much more common to find some pensioners relying on welfare assistance or doing a lot of sacrifices in order to be able to cope.