Research On The Influence Of Pension Cognition On Commercial Pension Insurance Purchase Behavior

China has entered an aging society.At present,there are two major characteristics of China's population aging:(1)The population base of the elderly is large.As of the end of 2019,China's population aged 65 and over was 176.03 million,accounting for 12.57% of the total population at the end of the same year,China has far exceeded the international standards for judging an aging society.(2)The proportion of the population aged 65 and over and the proportion of the old-age dependency ratio have increased year by year,and the increase rate still shows an increasing trend year by year.The aging of the population will increase the burden of old-age care for families and society.Therefore,in order to support people in old age,it is urgent to establish an old-age security system suitable for China's national conditions.However,at present,the replacement rate of China's basic social endowment insurance is declining,and the pressure on the balance of income and expenditure of social security funds in some provinces is relatively large.The supplementary endowment plan for the second pillar has a limited audience and weak development.Therefore,individuals need to plan their retirement in advance.Recognition of pension responsibility refers to the individual's thinking on the question of "who is supported by the elderly and the main body of the pension responsibility".It is to examine the individual's expectations for the future main body of the pension responsibility and the support for the elderly from a personal perspective.With the miniaturization and core of the family structure,the improvement of social endowment insurance benefits,personal economic strength and health,people gradually change their perception of their responsibility for old age.From the overall trend,parents still expect their children to assume primary pension responsibilities,but it is gradually weakening,starting to show a trend of diversification of the main body of pension responsibility,and the government's pension,self-support,and the three sharing of pension responsibility are gradually recognized.The change of old-age responsibility cognition will affect people's old-age planning,and commercial old-age insurance is an effective management tool for longevity risk.The impact of different old-age responsibility cognitions on the purchase intention of commercial old-age insurance should also be different.The impact of liability cognition on the purchase intention of commercial endowment insurance is of great significance.Firstly,this paper summarizes the domestic and foreign literatures on the cognition of endowment responsibility,the influencing factors of the purchase of commercial endowment insurance and the influence of the cognition of endowment responsibility on the purchase of commercial endowment insurance,and defines the conceptual definition of the cognition of endowment responsibility according to the references.After summarizing the relevant theories of the impact of pension cognition on commercial pension insurance purchasing behavior,this theory is used to analyze the mechanism of action.Secondly,using the data from the Chinese General Social Survey(CGSS)from 2010 to 2015,we obtained the changing trend of the awareness of pension responsibility.Finally,based on the 2015 CGSS data,the Logit equation is used to obtain the effect of pension responsibility awareness on commercial pension insurance purchase behavior.The results are as follows:(1)Parents who believe that their children are the main responsibility of the elderly will reduce the purchase of commercial endowment insurance because a portion of the parent's disposable income is used to support the child and the expectation of the child to bear the pension obligations.(2)The recognition of government pension responsibility will not have a significant impact on the purchase of commercial pension insurance.Because when the social old-age security system is relatively sound,and the individual's disposable income and old-age security needs are certain,the perception of the government's old-age responsibility is negatively related to the purchase of commercial old-age insurance.However,when the replacement rate of social pension insurance declines,and when people 's income increases and there is a higher pursuit of the quality of old-age life,the old-age security provided by the government does not meet people 's diverse needs for old-age care.People's insurance awareness,at this time,the government's recognition of pension responsibility is positively related to the purchase of commercial pension insurance.However,when the replacement rate of social endowment insurance decreases,and when people's income increases and they have a higher pursuit for the life quality of pension,and the pension security provided by the government cannot well meet people's diversified pension needs,the social pension security stimulates people's insurance awareness.Therefore,the government's pension responsibility cognition is positively correlated with the purchase of commercial pension insurance.(3)Their own pension responsibility will promote the purchase of commercial pension insurance.(4)Equally sharing the pension responsibility of the three(children/government/themselves)will also promote the purchase of commercial pension insurance.Strengthening the elderly's awareness of self-care for the elderly is conducive to the initiative to make pension plans,and commercial pension insurance is a feasible way in pension planning.Therefore,the strengthening of self-pension responsibility cognition is conducive to strengthening people's purchasing behavior of commercial pension insurance.The research content of this article is composed of six parts:The first chapter is an introduction.Contains the background of the topic selection,research significance and research purpose,and then describes the research content,ideas,methods,possible innovations and shortcomings of this article.The second chapter is the literature review.This article sorts out the relevant research literature at home and abroad from different research perspectives,and summarizes the changes in domestic and foreign pension concepts,the factors affecting the purchase behavior of commercial pension insurance,and the literature on the impact of pension concepts on commercial pension insurance purchase behavior.The third chapter is the concept definition and theoretical basis.First of all,the concept of old-age responsibility recognition and commercial old-age insurance are defined,and then theories related to the mechanism of pension liability cognition on the purchase intention of commercial endowment insurance are explained,such as the theory of intergenerational exchange,welfare pluralism,and behavioral economics.The fourth chapter is the mechanism of action.Based on the intergenerational exchange theory,welfare pluralism theory and behavioral economics,the mechanism of different pension responsibility cognition on the purchase behavior of commercial pension insurance is expounded.The fifth chapter is empirical analysis.First introduce the data,select variables,test models and perform descriptive statistics on the samples,and analyze various indicators.Using the data from the China Comprehensive Social Survey(2015),a Logit model was established to empirically analyze people's perception of different pension responsibilities influencing the purchase behavior of commercial pension insurance.In the endogenous test,the test found that the recognition of pension responsibility and commercial pension insurance have a causal relationship with each other,so the endogeneity is controlled by the simultaneous equation model to prove the reliability of the research results.Chapter 6 is the research conclusions and policy recommendations.According to the empirical results obtained in this paper,based on people's awareness of the old-age responsibility,suggestions are put forward to promote the development of commercial old-age insurance.The possible innovations in this article are:(1)Innovation from a research perspective.Starting with different perceptions of old-age responsibility,study its impact on the purchase behavior of commercial old-age insurance.(2)The research object is wide and the research sample is complete.In the research on the recognition of old-age responsibility,the existing literature mainly focuses on the special group of farmers.This article is based on the current diversified trend of old-age responsibility,so the whole population is taken as the research object.In addition,the existing research on the perception of old-age responsibility mainly uses a certain area as the research sample and the survey data in this area as the data source.Due to the particularity of the region and its small coverage,it is difficult to obtain a universal conclusion.This article is based on China's comprehensive social survey database,and comprehensive survey data covering the whole country is used as a sample for empirical analysis,which can effectively avoid the one-sidedness of the research conclusions brought by the particularity of the region and improve the universality of the research conclusions.(3)New research content.In real life,the perception of pension responsibility will affect the purchase decision of commercial pension insurance,and the purchase of commercial pension insurance may also change people's perception of pension responsibility.This mutual causal relationship has generated endogenous problems.This paper controls the endogeneity through the simultaneous Logit model and conducts a robustness test to prove the reliability of the research results.