Background. Psychological time, a subjective reflection of the objective passage of time, has age specific characteristics and can be considered a resource for adaptation to difficult life situations (Pultz, & Hviid, 2016). We assume that the components of psychological time are also a resource for adaptation to retirement, smoothing out undesirable social and biological changes in retirees’ lives.

Objective. This study explores this hypothesis by identifying the contribution of the cognitive component of psychological time – temporal focus and subjective age – to the effectiveness of late socialization.

Design. The developed theoretical model was verified by the SEM method on the sample of retirees from Chelyabinsk, Russia (N = 291). To collect the empirical data we used the Temporal Focus Scale (Shipp et al., 2009), the Age of Me (Barak, 2009), the Life Satisfaction Scale (Diener & Lucas, 1999), the Income Satisfaction Scale (Deyneka, 2000), and questionnaire variables.

Results. Temporal focus and subjective age mediated the influence of biological and social variables on the retirees’ subjective well-being. A younger subjective age smoothed the contribution of educational level, working status, and disability, whilst the current and future focuses mediated the association between religiosity and various parameters of satisfaction.

Conclusion. The results of the study broaden the understanding of psychological time in late socialization process. A pronounced focus on the present, along with younger subjective age, can be seen as psychological resources, allowing for better adaptation to the social status of a retiree; that is, increasing the effectiveness of late socialization.