Study On Purchase Intention And Influencing Factors Of Tax-Deferred Pension Insurance Under The Background Of Aging

As our population continues to age,the country is facing an increasing burden of old age.The country’s pension insurance system is facing a very big challenge.The third pillar of China’s three-pillar pension protection system is very weak.Therefore,in 2018,China launched a tax-deferred pension insurance pilot in three places,namely Suzhou Industrial Park,Shanghai & Fujian Province.However,the implementation of the insurance was not satisfactory in the initial stage of promotion.For this reason,it is of great theoretical and practical significance to study the factors influencing the willingness to purchase taxdeferred pension insurance from the perspective of consumers,to promote the development of personal commercial pension insurance in China,and to strengthen the third pillar of the pension protection system,so as to improve the pension protection system in China.This paper examines the current situation of the implementation of tax-deferred pension insurance and analyses the lack of demand for tax-deferred pension insurance.A questionnaire survey was conducted in Jinan,a densely populated and fast-growing provincial capital city,to investigate the willingness of local residents to purchase this type of insurance and the factors influencing the demand for this type of insurance.The questionnaire was designed to investigate the local residents’ recognition of tax-deferred pension insurance.The factors influencing the purchase of tax-deferred pension insurance were categorised into four dimensions: personal factors,economic factors,pension plans and awareness level.Ten important factors were selected for logistic regression to study and analyse the correlation of each factor.The research data concluded that factors such as age,permanent residence,health status,marital status,personal income and personal income tax understanding all have a significant impact on the demand for tax-deferred pension insurance in Jinan.Finally,based on the findings of the study,recommendations related to expanding the demand for tax-deferred pension insurance are proposed: namely,implementing different preferential policies for different age and income groups;expanding the publicity of tax-deferred pension insurance and personal income tax;implementing different pension policies for different physically healthy people;and strengthening the supervision of investment by insurance companies to improve the stability of their returns.