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Time will come that every one will retire one day from their professional life and if you agree with that argument then all individuals, organizations and law makers needs to prepare for that day. Every one needs to attend a pre-retirement program or

should plan to attend a pre-retirement program. After the age of 50s, employees start thinking about their retirement plan and will start looking after a more secure job or might engage themselves in other training or activities to prepare themselves for future. At present, it shows that when men or women enter their 50s, their participation in labor market slow down sharply (Scales and Scase, 2000; Loretto et al., 2005). Men have to look after different aspects of life and have a lot of responsibility to look after, therefore they need to be proactive and look for alternative after retirement or get retired before and grab the opportunity in which he can see more prosper future and can stay for longer period. In the 1990s, a time came, which was called, tied of early exit, because employees were leaving the organizations before the retirement age (Hirsch, 2003; Hotopp, 2005). If we see in longer version it will simply affect the

economy in many different ways (Brown, 2001) and on the other side also affecting the economy of organizations that hired and give employment and on other hand also affects individuals health and power of spending as well as quality of life (Smeaton and McKay, 2003). 6

Research shows that a lot of employees leave organization or get early retirement due to different aspects that might be age discrimination (Barnes et al., 2002). They face different tough stages in their work pattern by employers or the organization want to have young blood and get rid of old workers and try to find ways to say good bye to them (Performance and Innovation Unit (PIU), 2000). Furthermore, barriers employment variables or it shows the that older workers face a lot of in gaining linked or it remaining with attitudes in and different

difficulties gender,

and (i.e.




relationship with coworkers) (Berthoud, 2003; Loretto and White, 2004). A lot of countries, ways to which have a low birth workers rate i.e. face in

concern about employment of older workers and will adopt different accommodate their Scotland, are of particular concern because of low birth rates (Randall, 2002). Researcher trustworthy believes and that older as worker to would new be more




towards organization values and norms (Taylor and Walker, 1994; McGregor, 2001; IRS, 2003). On the other hand researcher believes that older workers thought to be inflexible and will need to go consistent training in order to survive that means a cost to company and makes and might not be fit in change that company will brought in (Chiu et al., 2001; Redman and Snape, 2002).

Moreover Singapore needs to pay a greater attention to the issue of retirement because it does not have any natural resources and depends largely on its human resources for its continued development, and it gives a big challenge to the government and organizations (Shantakumar, 1999). Older workers possess so much experience and knowledge as

compared to younger employees and thus organization should create some room for them and keep them in organization in temporary positions or as a consultants or let them act as mentor on recruitment (Lim and Feldman, 2002). Work is a source of income for employees and it allows them to structure their time and keep themselves busy and contribute to organization they are working and also to their self-esteem. Employment affects people ego ness and self-esteem and generates considerable nervousness and also affects their life in many ways (Beck, 1982). A lot of employees would have much confidence in their family support following their retirement and then they dont have to worry that their families would not support them. And research shows that a lot of employees disagree that they will be a burden on their family as a retired person. There are cases and reports available in the media that elder people or retirees have been handling and treated by their family badly or taken to old age houses and as a consequence of their being a burden to the family (The Straits Times, 1996).








variety of functions for individuals regarding their mental conditions. At lower management factors, which are related to retirees, are anxiety and depression, which is associated with planning for retirement and can overcome them if they planned for these factors in an appropriate ways (Fretz, Kluge, Ossana, Jones, & Merikangas, 1989). They can list down their expectations about event and their problems, which can be caused by retirement when they plan for retirement. It also encourages the individuals for other planning behaviors such as setting time to go out and financial goals that help them to handle the changes in life easily (Kasshau, 1974). Employee the retirement planning by may also help the human early

resource professionals in organizations to explore and know consequences caused it. The trend towards retirement and the increase in the number of older workers (Offerman & Gowing, 1990) creates a need to plan for it in coming years. Research suggests that 84% to 90% workers polled in favor of retirement planning (Glamser, 1980). The projected to increase express in their older workers in helps more




planning. In this way it forces more employers to offer planning seminars and above all to know which components of planning is more necessary for workers to know to increase the effectiveness of such seminars and above all achieve their goals behind organizing such seminars.









organizations are also interested in retirement planning as a means to encourage workers to take early retirement in firms and who ever are ready & will report for an early planned retirement (Taylor Shore, 1995). Leisure

activities are the major areas where retirement planning focus to aware among potential retirees (Charles, 1971) and they retire to get that early incentive plan set for these employees by employers (Grant, 1991). Research suggests that retirees may develop strategies for dealing with factors, which accompany retirement such as leisure or financial by effective retirement planning (Monk & Donovan, 1978). It also shows that both leisure and financial planning may help the retirees to facilitate of more positive retirement expectations (Kasshau, 1974). Retirement planning takes place informally as well as

formally, when individuals gather information over time and formally by means of participating in different retirement planning seminars. According to Banduras (1977) theory of self efficacy, because unwanted retirement it will task should task much start and more from to helps informal gather them to to planning face the helps with individuals





complete that task. Leisure is an important predictor has a variable positive of post on





expectations about retirement. Research shows that leisure provides retiree with a means to interact with others and it provides a significant role to have a positive pleasure from retirement and provides a path to structure their time 10

among their

friends own



(Burrus-Bammel high levels


Bammel, of


Long, 1987). When an individuals retire to carry on with interests shows retirement satisfaction and a prosper future (Floyd et al., 1992). Researchers have found that leisure planning creates more positive feelings of control over changes happening in society and social life (Fletcher & Hansson, 1991). Those

individuals who had engaged in informal leisure planning would have a good retirement experience and above all would have more confidence to deal with different retirement changes successfully. Research shows in & that life second and step in informal retirement is all &

preparation is financial planning in post retirement years, satisfaction linked Hansson, more to (Braithwaite retirement and satisfaction security 1992; who of financial 1992). condition 1987; retiree or feel that

Gibson, Those to



individuals the best


insecure financially may retire later than those who feel confident overcome can be financial judged planning issues accompany financial about retirement positions informal (Talaga & Beehr, 1989). Individuals after that retirement had made financial


before retirement. Further more by attaining to make and participating and in formal plans

planning seminars helps and provide retirees with required information needed financial leisure after retirement (Taylor-Carter & Cook, 1995).


Moreover retirement important retirement

researcher to know

believes and clarify

that the


further in

clarify is with &

expectations, (Howard,


planning linked Cunninggham




Donner, 1982) and it may also encourage them to engage in other training sessions which helps individual to prepare behaviors, activities such and as getting more information goals for on their leisure future setting financial

life (Kasshau, 1974). Retirement planning and retirement is a process that takes place over a period of years (Hornstein & Wapner, 1985). Employers should should take an it in to consideration between that they and develop understanding themselves

employee in order to know how planning affects expected retirement satisfaction even before actual retirement.