Analysis of the Impact of Pension Finance on Household Financial Asset Allocation in Chengdu

Li Li; Xinwen Zhang; Nana Yang

doi:10.6981/FEM.202412_5(12).0001

Authors

Li Li
Xinwen Zhang
Nana Yang

DOI:

https://doi.org/10.6981/FEM.202412_5(12).0001

Keywords:

Pension Finance; Household Financial Asset Allocation; Probit Model; Chengdu.

Abstract

Global populations face the universal challenge of aging, with China’s demographic aging issue characterized by its large scale, profound impact, and rapid progression. This phenomenon places dual pressures on the nation’s economic growth and pension burden. As the economic hub of western China, changes in household financial asset allocation in Chengdu are highly representative. Therefore, this paper takes Chengdu as the research object to investigate household asset allocation behaviors in response to pension financial products. Based on the Chengdu Household Finance Survey (CHFS) data, the Probit model is employed to analyze the key factors influencing household financial asset allocation. The study finds that the allocation of risky financial assets is significantly associated with factors such as pension ownership and household income levels. Finally, based on the results of the model analysis, the paper proposes relevant suggestions for optimizing the structure of household financial asset allocation in Chengdu, aiming to help households better address future pension demands.

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