| dc.description.abstract | The main purpose of the study was to establish the effects of demographic characteristics on financial preparedness amongst employees of international nongovernmental organizations (INGOs) in Kenya. The study adopted the use of descriptive design. For the research purpose, the population constituted all employees of the INGOs in Kenya. A sample of 60 employees was conveniently selected and administered with questionnaires on which the study attained a response rate of 91.67%. The data collected included information on respondents’ ten demographic attributes and the levels of financial preparedness for retirement. Collected data was analysed in a multiple regression model to elucidate the relationships between financial preparedness for retirement and its explanatory demographic characteristics. The study findings established that 19% of variations in the levels of financial preparedness for retirement are explained by variations in the demographic attributes of the respondents. The regression output finds a statistically significant positive relationship between gender and employee preparedness for retirement. The attributes that positively influence the levels of financial preparedness for retirement are time to retirement, financial literacy, household income and levels of education. The attributes that negatively influence financial preparedness for retirement are employees’ attitude, number of financial dependants and marital status which commits their financial resources. The study therefore recommends formulation of policies that elicit desirable attitude of employees towards retirement. There should also be increased pension awareness sessions supported by the government, private pension schemes and employers. | en_US |
