Socio-Demographic Correlates of Commercial Pension Insurance Purchase Intention: A Systematic Review with Evidence from China
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Objective: The rapid demographic shift in China toward aging is a psychosocial and cultural dilemma that is especially challenging for achieving financial security in old age. Although commercial pension insurance is marketed as an essential add-on to state welfare systems, the psychological and socio-cultural factors that determine individuals' readiness to buy are not well understood. Previous studies have mostly focused on economic and institutional factors and have not examined the embodied, relational, and cultural aspects of the aging population's decision-making.
Methods and Materials: To fill this gap, this paper presents a PRISMA-guided SLR of 15 studies (2015–2025) from databases such as Web of Science, Scopus, and Google Scholar.
Findings: As shown by the review, perceived health status, financial literacy, institutional trust, family structure, subjective aging, life satisfaction, and educational background are variables that strongly influence insurance behavior. Particularly, the impact of income and urban–rural residency takes place through psychological constructs, including the influence of age-related anxiety, future orientation, and perceived autonomy.
Conclusion: These results indicate that choices related to retirement security do not only occur on the economic plane but are deeply rooted in cultural accounts and psychosocial identities. The review offers culturally informed insights for policymakers, financial institutions, and health professionals seeking a more holistic approach to older adults’ financial security.
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