The effect of subjective life expectancy on the participation in commercial pension insurance of Chinese elderly
ObjectiveThis paper studies the impact of the subjective life expectancy of the elderly on their commercial pension insurance participation at micro perspective, providing new evidence to explain the motivation of commercial pension insurance participation in China.MethodsUsing 4 waves of data from...
| Main Authors: | , , , , |
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| Format: | Article |
| Language: | English |
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Frontiers Media S.A.
2022-08-01
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| Series: | Frontiers in Psychology |
| Subjects: | |
| Online Access: | https://www.frontiersin.org/articles/10.3389/fpsyg.2022.969719/full |
| _version_ | 1811340770551005184 |
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| author | Mei Zhou Yingyi Wang Yunjia Liang Ruonan Shi Shaoyang Zhao |
| author_facet | Mei Zhou Yingyi Wang Yunjia Liang Ruonan Shi Shaoyang Zhao |
| author_sort | Mei Zhou |
| collection | DOAJ |
| description | ObjectiveThis paper studies the impact of the subjective life expectancy of the elderly on their commercial pension insurance participation at micro perspective, providing new evidence to explain the motivation of commercial pension insurance participation in China.MethodsUsing 4 waves of data from the China Health and Retirement Longitudinal Study (CHARLS) from 2011 to 2018, a multiple linear regression model is constructed to investigate the effect of subjective life expectancy on commercial pension insurance participation among the Chinese elderly, and IV model estimation shows that the results are robust. Meanwhile, the heterogeneity of the effect of elderly life expectancy on commercial pension insurance participation behavior among different characteristic groups is also studied.ResultsA one standard deviation improvement in our measure of subjective life expectancy predicts a 0.9% point higher participation rate in commercial pension insurance. We also find that there is significant heterogeneity in the effects of subjective life expectancy on the participation of elderly people in commercial pension insurance with respect to gender, education, hukou, and wealth.ConclusionThis paper provides a new perspective to explain the factors influencing commercial pension insurance participation in China. We suggest that improving residents’ awareness of life expectancy is beneficial to their reasonable retirement planning, in the background of stepping into an aging society in China. |
| first_indexed | 2024-04-13T18:46:51Z |
| format | Article |
| id | doaj.art-09f38d7130494a35aa5ef4d0d0d516c3 |
| institution | Directory Open Access Journal |
| issn | 1664-1078 |
| language | English |
| last_indexed | 2024-04-13T18:46:51Z |
| publishDate | 2022-08-01 |
| publisher | Frontiers Media S.A. |
| record_format | Article |
| series | Frontiers in Psychology |
| spelling | doaj.art-09f38d7130494a35aa5ef4d0d0d516c32022-12-22T02:34:33ZengFrontiers Media S.A.Frontiers in Psychology1664-10782022-08-011310.3389/fpsyg.2022.969719969719The effect of subjective life expectancy on the participation in commercial pension insurance of Chinese elderlyMei Zhou0Yingyi Wang1Yunjia Liang2Ruonan Shi3Shaoyang Zhao4School of Public Administration, Southwestern University of Finance and Economics, Chengdu, ChinaSchool of Public Administration, Southwestern University of Finance and Economics, Chengdu, ChinaSchool of Economics, Sichuan University, Chengdu, ChinaSchool of Economics, Sichuan University, Chengdu, ChinaSchool of Economics, Sichuan University, Chengdu, ChinaObjectiveThis paper studies the impact of the subjective life expectancy of the elderly on their commercial pension insurance participation at micro perspective, providing new evidence to explain the motivation of commercial pension insurance participation in China.MethodsUsing 4 waves of data from the China Health and Retirement Longitudinal Study (CHARLS) from 2011 to 2018, a multiple linear regression model is constructed to investigate the effect of subjective life expectancy on commercial pension insurance participation among the Chinese elderly, and IV model estimation shows that the results are robust. Meanwhile, the heterogeneity of the effect of elderly life expectancy on commercial pension insurance participation behavior among different characteristic groups is also studied.ResultsA one standard deviation improvement in our measure of subjective life expectancy predicts a 0.9% point higher participation rate in commercial pension insurance. We also find that there is significant heterogeneity in the effects of subjective life expectancy on the participation of elderly people in commercial pension insurance with respect to gender, education, hukou, and wealth.ConclusionThis paper provides a new perspective to explain the factors influencing commercial pension insurance participation in China. We suggest that improving residents’ awareness of life expectancy is beneficial to their reasonable retirement planning, in the background of stepping into an aging society in China.https://www.frontiersin.org/articles/10.3389/fpsyg.2022.969719/fullsubjective life expectancycommercial pension insuranceelderlyheterogeneityIV method |
| spellingShingle | Mei Zhou Yingyi Wang Yunjia Liang Ruonan Shi Shaoyang Zhao The effect of subjective life expectancy on the participation in commercial pension insurance of Chinese elderly Frontiers in Psychology subjective life expectancy commercial pension insurance elderly heterogeneity IV method |
| title | The effect of subjective life expectancy on the participation in commercial pension insurance of Chinese elderly |
| title_full | The effect of subjective life expectancy on the participation in commercial pension insurance of Chinese elderly |
| title_fullStr | The effect of subjective life expectancy on the participation in commercial pension insurance of Chinese elderly |
| title_full_unstemmed | The effect of subjective life expectancy on the participation in commercial pension insurance of Chinese elderly |
| title_short | The effect of subjective life expectancy on the participation in commercial pension insurance of Chinese elderly |
| title_sort | effect of subjective life expectancy on the participation in commercial pension insurance of chinese elderly |
| topic | subjective life expectancy commercial pension insurance elderly heterogeneity IV method |
| url | https://www.frontiersin.org/articles/10.3389/fpsyg.2022.969719/full |
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