The effect of financial literacy on private pension system preferences: A study at Burdur Mehmet Akif Ersoy University

As a result of increasing complexity of financial markets with globalization, development of technology and emergence of new financial products and services, individuals face some risks in financial terms. Individuals must be financially literate in order to be protected from these risks in the financial field. Financial literacy enables consumers to obtain the necessary information on financial matters, and thanks to this information, helps them to make conscious and correct decisions. Private retirement is a system that enables individuals to live a comfortable life by earning additional income during their retirement period. Although the private pension system, which is newly developing in our country, initially has a very important place for individuals, participation in the system and the awareness of the system are not at the desired level. Financial literacy contributes significantly to participation in the system and to increasing the awareness of the system. The purpose of this thesis is to reveal the relationship and effect between students financial literacy levels and their awareness of the private pension system. For this purpose, a research was carried out on students studying at Burdur Mehmet Akif Ersoy University Faculty of Economics and Administrative Sciences. 511 students participated in the study. The research, in which quantitative analysis methods were applied, was applied in the period of December / 2020-January / 2021. The obtained data were analyzed in SPSS-25 program. The study consists of three parts. The first part is financial literacy, the second part is the private pension system, and the third part is the application part.