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Impact of Financial Literacy on Personal Pension Investment
- 1 Dongbei University For Economy of Surrey International Institution, Dalian, Liaoning, P. R. China
* Author to whom correspondence should be addressed.
Abstract
In the context of China's intensifying aging population, the economic security of the elderly has emerged as a pivotal concern. As of 2023, China's elderly population aged 60 and over has reached 297 million, accounting for 21.1% of the total population. Against this detailed background, the purpose of this essay is to investigate the status, problems, and economic impact mechanism of personal pension consumer risk assessment in China. To achieve this, a quantitative analysis was conducted using a large-scale socioeconomic survey, which collected data on age, gender, educational background, risk appetite, and pension contribution rates. The method employed linear regression models to examine the relationship between risk-taking ability and pension contribution rates, as well as the influence of age on consumption willingness. The results indicate that consumers' risk-taking ability has a significant positive effect on their pension contribution rates, suggesting that individuals with higher risk tolerance tend to allocate a larger proportion of their income to pension savings. Furthermore, age was found to influence both risk preference and consumption behavior, with specific age groups exhibiting unique patterns. In conclusion, these findings provide valuable insights for policymakers and financial institutions to better design incentives and products that cater to the diverse needs of the aging population.
Keywords
financial literacy, risk-taking estimation, correlation coefficient
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Cite this article
Wang,S. (2025). Impact of Financial Literacy on Personal Pension Investment. Advances in Economics, Management and Political Sciences,163,33-42.
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Volume title: Proceedings of the 4th International Conference on Business and Policy Studies
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