Does Retirement trigger Depression in bankers? A Comparative Study in Nationalized Banks of Kolkata

Abstract

Background and Aims: Bankers hold a respectable position in society, and their profession involves a lot of public interaction. Retirement leads to decline in the level of social interaction and respect which might trigger depression. Thus, assessment of the influence of retired life on depression needs comparison between retirees and employees. This study was planned to determine the difference in depression among employees and retirees of selected nationalized banks in Kolkata. Methods: An analytical study with cross-sectional design was conducted on retired and working employees of selected nationalised banks in Kolkata from August 2023 to August, 2024 by employing a self-administered predesigned, pre-tested and structured e-questionnaire. A sample size of 172 in each arm was estimated, which were selected using two-stage random sampling technique. Data were analysed using multinomial logistic regression, independent samples median test and Mann-Whitney U test. A p-value of <0.05 was considered significant. Results: There was a significant difference between the depression scores of retirees and employees. A higher percentage of employees (72.1%) suffered from depression compared to the retirees (62.5%). Though designation during employment was associated with depression in retirees, its influence on the mental health of the current employees was not noted. In both the groups, regular exercise and satisfaction with financial situation and pursuance of interests/hobbies was protective against depression. Conclusion: The dissimilarity between the depression status of the two groups was evident. Contrary to the assumptions, the former workers were less depressed than the present employees.

References

1. 1.Kagan J. Retirement [Internet]. Investopedia; 2019 [Updated 2021 Jul 16; Cited 2021 May 14]. Available from url: https://www.investopedia. com/terms/r/retirement.asp#:~: text=Retirement%20refers%20 to%20the%20time,place%20to%20 supplement%20retirees’%20incomes.
2. 2.Barnes H, Parry J. Renegotiating identity and relationships: men and women’s adjustments to retirement. Ageing and Society 2004;24(2):213-33.
3. 3.Psychology.Textbook for Class XI.New Delhi:National Council of Educational and Research Training; 2019.
4. 4.Vishwakarma D,Gaidhane A,Bhoi SR, Vishwakarma D,Gaidhane A,Bhoi SR. Depression and Its Associated Factors Among the Elderly Population in India: A Review. Cureus [Internet]. 2023 Jun 27 [cited 2023 Jul 21];15(6). Available from: https://www.cureus.com/ articles/139125-depression-and-itsassociated-factors-among-the-elderlypopulation-in-india-a-review
5. 5.Pabón-Carrasco M, Ramirez-Baena L, López Sánchez R, Rodríguez-Gallego I,SuleimanMartos N,Gómez-Urquiza JL.Prevalence of Depression in Retirees: A Meta-Analysis. Healthcare (Basel) 2020;8(3):321.
6. 6.Depressive disorder (depression) [Internet].WHO;2023 [updated 2023 Mar 31; cited 2024 Apr 3]. Available from:https://www.who.int/news-room/ fact-sheets/detail/depression
7. 7.National Mental Health Survey of India, 2015-16 [Internet]. Bengaluru: MoHFW, GOI; 2016 [cited 2024 Apr 3].Available from:https://main.mohfw. gov.in/sites/default/files/National%20 Mental%20Health%20Survey%2C%20 2015-16%20-%20Mental%20 Health%20Systems_0.pdf
8. 8.Shiba K,Kondo N,Kondo K,Kawachi I. Retirement and mental health: dose social participation mitigate the association? A fixed-effects longitudinal analysis. BMC Public Health 2017; 17(1): 526.