Retirement preparation as a process: Stages and factors

The study is relevant due to the complex nature of the retirement experience, which requires mental recovery and future planning. The aim of the study is to explore characteristics of pre-retirement individuals based on their stage in the retirement planning process. Hypothesis: Proactive coping strategies and long-term personality orientation are linked to the retirement planning process. Social and demographic factors (level of education, presence of dependents in the family) are significant in planning the retirement transition. Participants: 202 respondents aged 43-63 years (male = 49%; female = 51%), working and living in different regions of the Russian Federation. Methods (tools): an abridged version of the Stanford “Zimbardo Time Perspective Inventory” (F. Zimbardo adapted by T. A. Nestik) was used to study individual differences in time perspective; the Proactive Copying Inventory (E. Greenglass adapted by E. P. Belinskaya, A. V. Vecherin, E. R. Agadullina) was used to study proactive coping strategies; The Process of Retirement Planning Scale (Jack H. Noone, Christine Stephens, Fiona M. Alpass) was used to assess the retirement planning process. Findings. The research demonstrated significant differences in the manifestation of proactive coping strategies at the stages “Ideas about Retirement” and “Preparation for Retirement”. Future orientation was markedly lower at the stages of “Ideas about Retirement” and “Decision to Start the Preparation”. The time perspective of the respondents who were at the stage of “Decision to Start the Preparation” differed significantly from other groups in their fatalism in the perception of the present. The desired age of retirement significantly exceeded the age of the planned retirement. The research revealed the significance of social and demographic characteristics for retirement planning. The main conclusions. The stage “Decision to Start the Preparation” is characterized by the fatalism of the respondents in the perception of the present. Proactive coping strategies manifest themselves at the stages of “Ideas about Retirement” and “Preparing for Retirement”. Such social and demographic factors as presence of dependents in the family and the education level of a pre-pensioner are crucial for retirement planning. Practical application. The results of the study can be utilized in counseling pre-pensioners.