The Post-Retirement Economic, Social, and Personal Life of Academics in Higher Education Institutions in the 2nd District of Albay

Abstract

This study explored the post-retirement economic, social, and personal life of academic retirees from Higher Education Institutions in the 2nd District of Albay. Using a mixed-method approach, the study gathered quantitative and qualitative data from 38 academic retirees, most of whom were female, married, and highly educated, with long years of service ranging from 21 to 40 years. Many opted for early retirement at age 60, while others retired at the mandatory age of 65. Findings on economic life generally demonstrate responsible money management, particularly in budgeting, monitoring savings, and settling debts. However, some gaps were noted in record-keeping and investment engagement, indicating areas where financial literacy may still be improved. They remain active through mentoring—identified as the top productive activity—along with part-time academic work, volunteering, hobbies, academic events, and family time, reflecting a desire to remain active, purposeful, and actively engaged. Socially, they experienced minimal isolation and maintained strong ties with family, colleagues, and community groups. Participation in gatherings and regular social media use further strengthened these networks. Regarding identity and sense of purpose, they disagreed with concerns about being forgotten, and on personal well-being, they generally enjoy good health, attributed to positive lifestyle practices developed over the years. Lower levels of participation in regular exercise were noted among those in older age groups, yet many still engage in wellness activities within their physical capacity. Generally, the respondents experience a constructive and meaningful post-retirement life characterized by financial responsibility, strong social engagement, and positive well-being. Their resilience and continued productivity highlight retirement as a stage of renewal rather than decline.