Determination of the behaviors of individuals involved in the private pension system towards the retirement period: The case of Kütahya province

The primary aim of this study is to identify the retirement-related behaviors of individuals participating in the Individual Pension System (IPS) and to analyze the effects of these behaviors on retirement planning activities and life satisfaction during retirement. Within this scope, the influence of individual psychological variables such as future time perspective and retirement goal clarity on retirement planning and life satisfaction was examined. Financial risk tolerance, perceived financial knowledge, and perceived saving adequacy were evaluated as mediating variables. The empirical field of the study was the province of Kütahya, and the survey technique, a quantitative research method, was employed. Data collected from 400 participants were analyzed using the SPSS software. As a result of the analyses, all proposed hypotheses were found to be statistically significant and were thus accepted. The findings revealed that individuals' future time perspective and clarity of retirement goals have a direct effect on retirement planning and life satisfaction. Furthermore, financial risk tolerance, perceived financial knowledge, and saving adequacy were found to play significant mediating roles in these effects. Keywords: Retirement Planning, Future Time Perspective, Retirement Goal Clarity, Financial Risk Tolerance, Life Satisfaction, Individual Pension System.