Preparing for the Next Chapter: Staff Gain Retirement and Financial Planning Skills
By Dickens Dominic, CMU
The University of Dar es Salaam (UDSM) has strengthened its commitment to staff welfare by conducting a two-day training programme on retirement planning, personal financial management and life skills, aimed at helping employees prepare for a secure, productive and fulfilling life after active employment.
Organized by the Directorate of Human Resource and Administration, the training brought together staff members from across the University from 11–12 June 2026 at the Auditorium Conference Room in the University Library.
The programme focused on enhancing participants' understanding of retirement preparedness, financial resilience, wealth creation and personal well-being.
A key message that emerged throughout the training was that successful retirement requires more than financial preparation—it also demands purpose, planning and a positive mindset.
Speaking during a session titled "Retire to Something: Find a New Purpose," Dr. Patrokil Kanje from the University of Dar es Salaam Business School (UDBS) urged participants to view retirement as the beginning of a new chapter rather than the end of a productive life.
“Retirement should be seen as a transition into a new phase of life where individuals can pursue passions, engage in entrepreneurship, mentorship, volunteerism and community service while maintaining a sense of fulfilment and purpose,” he said.
Dr. Kanje observed that many retirees struggle not because of financial constraints alone, but because they enter retirement without clear goals, interests or plans for meaningful engagement.
He encouraged staff to begin preparing early by cultivating hobbies, strengthening social networks and acquiring new skills that can support their aspirations beyond formal employment.
The training also featured a presentation by Prof. Goodluck Urassa from UDBS who highlighted the critical role of sound investment decisions in achieving long-term financial security.
According to him, retirement planning requires a careful balance between building financial stability and maintaining quality of life.
“Retirement is not only about accumulating wealth. It is also about enjoying the fruits of one’s labour, maintaining good health, spending quality time with family and achieving peace of mind after years of service,” he said.
Diversify investments, maintain emergency savings, seek professional financial advice
Prof. Urassa encouraged participants to diversify their investments, maintain emergency savings and seek professional financial advice when necessary. He further emphasized the importance of planning for healthcare expenses and avoiding impulsive financial decisions that could undermine financial security during retirement.
Beyond retirement planning, participants engaged in interactive discussions and practical sessions covering personal finance management, savings culture, pension benefits, risk management, wealth creation and life skills essential for a smooth transition into post-employment life.
The programme forms part of UDSM's broader efforts to promote employee well-being and support staff in making informed decisions about their future.
Through such initiatives, the University continues to foster a supportive working environment that empowers employees to build financial resilience, prepare for life beyond work and approach retirement with confidence and purpose.
Participants were expected to develop individual action plans to guide their retirement preparation and financial management strategies, translating the knowledge gained into practical steps toward a secure and rewarding future.