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Individuals are affected by many variables in the decision-making process.These variables can sometimes be environmental factors, and sometimes they can be social, psychological and even biological factors.The fact that individuals are easily influenced in decision-making processes has led to many studies and the concept of timed behavioral economics has emerged.With the development of behavioral economics, individuals' decision-making processes have been examined in detail and it has been revealed that individuals' decisions are not completely rational, but limitedly rational or irrational.In this context, the aim of the study is to investigate the effects of nudging, risk perception, overconfidence tendency and herd mentality that are thought to be effective on the individual retirement system decisions of individuals.The purpose of examining the individual retirement system in the study is that investment channels are more important especially in developing countries compared to other countries and the individual retirement system in Turkey is not at the desired level.In the study, the reasons for choosing or not choosing the individual retirement system, which is effective in living a higher level of welfare especially during the retirement process, are revealed and policies are suggested in this direction.According to the findings obtained as a result of the study, having knowledge about the concept of individual retirement, age, income and herd mentality variables were found to be statistically significant.The fact that it is meaningful to have information about the individual retirement system reveals that further promotion of this system through advertisements and public service announcements will further increase the tendency towards individual retirement.The fact that herd mentality behavior was found to be significant in individual retirement preferences in the study shows that individuals act under the influence of other people. Structured Abstract:Although the individual retirement system, which is very important for living at a higher level of welfare during retirement, has become widespread with automatic participation, Turkey remains * Bu çalışma, 2. International Symposium on Insurance, Banking and Finance sempozyumunda bildiri olarak sunulmuştur.Çalışma için Atatürk Üniversitesi Sosyal ve Beşerî Bilimler Etik Kurulu Başkanlığı'nın 27.11.2023tarih ve E.88656144-000-2300378567 sayılı kararı ile etik kurul onayı alınmıştır.Ethics committee approval was obtained for the study with the decision of Atatürk University Social and Human Sciences Ethics Committee dated 27.
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