Abstract
The CAFF50 Survey is designed to obtain a better understanding of citizens’ plans for their old age and their needs for financing old age care. It focuses on respondents’ perception of financing old age care, their participation in such scheme and willingness to participate. Results show that most of the respondents have some basic ideas about retirement savings, and own some retirement assets through diversified channels. However, on the whole, their savings are not enough. In terms of pension investment, the majority of respondents show a keen interest and are prudent in making investment decisions. However, the risk prevention and fraud control still need to be addressed in this area. In addition, the majority of the respondents show a strong interest in participating in the third pillar of pensions, that is, personal tax-deferred pension. In the future, based on the continuous reform of the pension insurance system and improvement of the multi-pillar pension insurance system, we should further raise the general public’s awareness of retirement savings, continuously make innovations in products designed to finance old age care, optimize the market of financing old age care, and meet the investment needs of different demographic groups.
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Notes
- 1.
Note: Due to the difference between the sampling plan and sample population, there is some discrepancy between this data and the survey of the Survey and Research Center for China Household Finance.
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Gan et al. (2015).
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Note: excluding real estate and other fixed assets.
- 4.
This question is a multiple-choice question; in order to more clearly reflect the respondents’ selection, the data is processed by using SPSS multiple response sets so that the sum of the options is 100%.
Reference
Gan, L., Yin, Z., and Tan, J. (2015). China Household Financial Survey 2014 [M]. Chengdu: Southwest University of Finance and Economics Press, 2015: 66–67.
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© 2018 Social Sciences Academic Press and Springer Nature Singapore Pte Ltd.
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Dong, K., Gan, L. (2018). Survey Report on the Financing of Old Age Care in China. In: Dong, K., Yao, Y. (eds) Annual Report on Financing Old Age Care in China (2017). Springer, Singapore. https://doi.org/10.1007/978-981-13-0968-7_2
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DOI: https://doi.org/10.1007/978-981-13-0968-7_2
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