Private Saving Old-aged Insurance Market Demand Research

In the situation of the aging of population, how to improve China social securitysystem has become an important issue. China has initially established a system includingthree pillars, respectively old-aged public insurance, enterprise annuity, and private savingold-aged insurance. Now many scholars focus on the research of the first two pillars, whilethe research of the third pillar is still in its infancy.This thesis studies private saving old-aged insurance and its market demand.This thesis has introduced and analyzed the policies of Australia, Chile and Singapore.And this thesis has investigated the workers in Shanghai to know how much theyunderstand private saving old-aged insurance, to see what plans they have made for theirold lives, and to analyze what are the potential influence factors on their participation inprivate saving old-aged insurance. Besides, this thesis has analyzed the strengths andweaknesses, opportunities and threats of China’s private saving old-aged insurance marketdevelopment. Here, the development and improvement strategies of private savingold-aged insurance are suggested. Finally, based on the analysis of existing literature onprivate saving old-aged insurance and the results from the survey, this thesis has putforward a new concept about private saving old-aged insurance.By applying literature this thesis collected information to design questionnaire,and non-random sampling method is used to investigate the workers in Shanghai. Byinternational comparison, this thesis probes into the significance of old-aged insurance thatAustralia, Chile and Singapore have suggested. This thesis also constructs mathematicalmodel through factor analysis, multiple stepwise regression analysis and K means clusteranalysis. Besides, this thesis uses SWOT analysis to construct SWOT strategic matrixmodel. Finally, this thesis has put forward a new concept about private saving old-agedinsurance following the rules of induction.One of the findings of this thesis is that individuals do not manifest a strongtendency of the future of old-aged investments in the inter-temporal choice andprocrastination, etc., but show a strong motivation of improving the status that the workers who own an old-aged public insurance or commerce insurance are willing to participate inor purchase of private saving old-aged insurance. Another is that16main factors affectprivate saving old-aged insurance market demand, including service, reputation and publicawareness of the organization of private saving old-aged insurance agency, the currentbank interest, the current stock market, the current unemployment rate, pension addedcapabilities, pension security, investment return of pension, staff‘s professional knowledge,sense of responsibility, service attitude, contract coverage, unambiguous terms of thecontract, the method and ages of taking out on annuity. And the most important factor iscontract coverage.The thesis has integrated the interdisciplinary research to promote the theorybuilding of private saving old-aged insurance, so that they may be used for the productdesign of private saving old-aged insurance, the service strategies of the organization ofprivate saving old-aged insurance agency, and the policy making by government.