Education as a Factor of Life Satisfaction in Retirement

Despite ample evidence of the positive impact of education on people's lives, the duration of this effect have not been sufficiently explored. The purpose of the present study is to identify how the level of education affects various aspects of life satisfaction in retirement. In order to realize the goal, a structural model of the influence of education on life satisfaction in retirement was developed and verified on a sample of pensioners from the industrial region of Russia (n=291), highlighting the role of cognitive phenomena (psychological age and basic beliefs). The results of the analysis of the empirical model confirm the main hypothesis: a higher level of education increases life satisfaction in retirement, both directly and indirectly – through cognitive structures. It affects all measured indicators of satisfaction: psychological well-being, income satisfaction, perception and attitude towards retirement period of life, subjective assessment of health. The results of the study expand the understanding of the role of education as a factor of late socialization, and also serve as a basis for recommendations on the content of the learning process.