Application Research Of Consumer Trust On Pension Industry

Population aging is the trend of the world,and it has become one of the major social issues of China.Therefore,there will be rapid growing and huge demand in pension industry that includes daily consumption,housing,investment and wealth management of the elderly.As the deterioration of body functions and the lack of knowledge,the elderly have difficulty to judge the products or services and to choose from an array of products.Besides the lack of consumption concept of the elderly,the suppliers in pension industry have no deep understanding of what the elderly need.Pension industry is also facing such problems as the quality of product varies greatly and long-term capital investment is insufficient.In addition,the suppliers in pension industry need to put more effort on product marketing.As a new financial instrument,consumer trust which in accordance with domestic demand stimulating and inclusive finance policies can not only help consumers get goods or services with better quality,but also help the suppliers in pension industry target customers precisely.Moreover,there is a prediction that consumer trust will become a new growth point of trust company.To investigate the application value of consumer trust on pension industry,this paper analyses the situation of population aging and the pension industry,the characteristics of the trust and consumer trust.To match the nature and characteristics of the pension system,trust is the most appropriate financial instrument.Consumer trust can promote the pension industry by meeting the demand of the consumer,improving the products and combining industry with finance.To elaborate specific application mode of consumer trust on pension industry,this paper selects six pension consumer trust patterns based on consumption purpose and trust property,and builds the structure of the products.These six patterns include daily pension consumption consumer trusts,pension real estate consumer trust,commercial pension insurance consumer trust,capital consumer trust,housing endowment consumer trust and rural land circulation consumer trust.Through the analysis above,this paper presents the difficulties and obstacles of the application of consumer trust on pension industry.On one hand,to improve the system of pension consumer trust,relevant departments should establish the trust registration system,specify the tax system and create a favorable environment to carry out pension consumer trust business.On the other hand,to expand pension consumer trust business,the trust companies should establish appropriate organizational structure,internal control and human resources system,enhance consumer education,pay more attention to product design and supplier filtering and take advantage of big data and the internet finance to tap the market demand.