https://doi.org/10.65725/JCMCE/2S1/019JOURNAL OF CONTEMPORARY TRENDS IN MANAGEMENT, COMMERCE AND ECONOMICS (JCMCE)
Volume 2, Special Issue 1, 2026
Special Issue : Algorithmic Economies: AI Across Digital Finance, Social Life, and Higher Education
Abstract:
Retirement planning behavior has emerged as a critical area of inquiry in the context of increasing individual responsibility for post-employment financial security. Despite extensive research, the literature remains fragmented, with limited integration of the diverse determinants influencing such behavior. This conceptual review aims to synthesize existing studies to develop a comprehensive understanding of the key factors shaping retirement planning behavior. Drawing on established theoretical frameworks, including the Theory of Planned Behavior, Life Cycle Hypothesis, and Prospect Theory, the study examines how cognitive, psychological, behavioral, attitudinal, and socio-demographic determinants interact to influence individuals’ retirement preparedness. The review highlights the pivotal role of financial literacy, self-control, future orientation, and risk perception in driving planning decisions, while also acknowledging the influence of external factors such as income, education, and social norms. Furthermore, the study identifies significant research gaps, particularly in understanding the interplay between behavioral biases and socio-economic conditions across diverse populations. By proposing an integrated conceptual framework, this paper contributes to the advancement of retirement planning literature and provides valuable insights for academics, policymakers, and practitioners seeking to enhance financial well-being and long-term security.
Authors: M. Sugabradhayini, Dr. R. Lakshmi
Keywords: Retirement Planning Behaviour; Financial Literacy; Behavioral Finance; Decision-Making; Investment Strategies; Retirement Preparedness; Psychological Factors.