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家庭养老金融资产配置
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新刊速读 | 通货殖之理 明财用分置:金融素养与家庭养老金融资产配置
Xin Hua Cai Jing· 2025-08-11 17:04
Core Viewpoint - The aging issue in China has become a significant challenge, leading to immense pressure on the pension security system, highlighting the importance of financial literacy in optimizing household pension asset allocation [1][3]. Group 1: Research Data and Methodology - The research utilizes data from the 2019 China Household Finance Survey (CHFS), covering 29 provinces and 31,079 households, focusing on individuals aged 30 and above [2]. - The study analyzes the impact of financial literacy on the scale of pension financial assets, the proportion of risky financial assets, and the degree of risk diversification [2]. Group 2: Main Conclusions - Financial literacy significantly promotes pension financial asset allocation, leading to an increase in the scale of pension financial assets held, a higher likelihood of holding risky pension financial assets, and enhanced diversification of these assets [3]. - The mechanism analysis indicates that financial literacy influences the ability to access financial information and risk attitudes, which in turn affects household pension asset allocation [3]. - Age heterogeneity analysis shows that the impact of financial literacy on asset allocation varies across age groups, with the highest effect observed in younger individuals [3]. Group 3: Policy Recommendations - A nationwide financial literacy enhancement plan should be implemented, focusing on community outreach and online courses to educate on pension financial knowledge [4]. - The financial information dissemination system should be optimized through collaboration between financial institutions and media to simplify terminology and improve the efficiency of information sharing [4]. - Emphasis should be placed on educating the youth about pension finance in educational institutions, designing products that align with their income characteristics to encourage early planning for pension assets [4].