Understanding The Role of Psychological Characteristics in Retirement Planning Among Employees Working in Delhi NCR.

Abstract

The transition towards retirement needs coping and adapting, both of which provide challenges to psychological health. Notably, the transition into retirement sheds light on the core definition of psychological ageing, which may be summed up as the capacity to adapt not only to internal biological changes but also to changes in the external environment, which can have an impact on psychological health. The ability to adapt not only to internal biological changes but also to changes in the external environment that can have an impact on psychological health is central to the concept of psychological ageing. Since people are becoming more conscious that having financial security in retirement is only one of many crucial factors, there has been a rise in interest in the psychological aspects of retirement. It is highly likely that retirees will struggle with at least some psychological disorders, the severity of which will vary. For instance, a married couple whose ages are widely different but who both work full-time could wonder if they should retire at the same time or wait until one of them reaches a certain milestone age. While one person worked, the other might retire and spend their time relaxing at home by themselves. When faced with such a situation, retirees are prone to have psychological issues, which, in order to achieve their highest possible level of life satisfaction, need to be addressed. The purpose of this study was to investigate how psychological factors influence the retirement planning behaviour of employees in the Delhi National Capital Region. This article examines the challenges that many leaders face when it comes time for them to step down from their positions. It analyses the physical and psychological aspects of ageing and discusses a number of the obstacles that stand in the way of a graceful exit, including financial, social, and psychological factors. In addition to this, it delves into a variety of mental processes that come into play during retirement.