An Analysis of Impact of Pension Insurance on Saving and Consumption Behaviors

This paper uses data from China’s health and pension check (CHARLS) that was obtained in 2010 and also employs the OLS regression method to analyze the impact of pension insurance on savings and consumption, and to highlight the difference created by different elderly security systems. The research results show that part of the accumulated old-age insurance system still has simulative and crowding out effects on consumption and savings respectively, and moreover the impact resulting from different types of pension insurance on people’s saving and consumption is totally different. The above situation demonstrates that promoting the endowment insurance system actively is helpful for increasing consumption and stimulating the economy. More attention should be paid to the merger of different endowment insurance systems in the reform of endowment insurance, narrowing the difference between the different types of insurance, so as to lower the risk expectation and promote social fairness and justice.