Exploring the Perceptual and Contextual Factors Affecting Retirement Planning among Fisher Folks in the Elmina and Cape Coast Fishing Communities: A Qualitative Approac

Abstract

The purpose of this qualitative study was to ascertain retirement planning by fisher folks in Elmina and Cape Coast fishing communities in the Central Region of Ghana. Using qualitative research designed from a phenomenological view, 35 fisher folks were conveniently sampled for the study. These fisher folks comprised fishermen, canoe owners and fishmongers. The semi-structured interview guide was used to collect data from the participants and their responses were audio-recorded, transcribed and analyzed thematically. It was revealed from the study that most of the fisher folks regarded retirement as a period in which a person is not able to work and this is dependent on the person’s level of strength, age or health condition. It also came to light that retirement planning among fisher folks is affected by factors such as the lack of labour unions or associations, seasonal conditions, high cost of operation, illegal fishing activities, extravagant spending among fishermen, lack of financial support and the mechanism of demand and supply. It is therefore recommended that an extensive public education programme on retirement planning should be implemented for fisher folks along with the fishing communities. The government, in consultation with the security agencies such as the police and the marine patrol team should come up with stringent measures to deal with individuals that engage in illegal fishing activities that pose a great threat to the livelihood of the indigenous fishermen and the fishing business in Ghana.