Proceedings of the 2025 6th International Conference on Management Science and Engineering Management (ICMSEM 2025)

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Effects of Uncertainty Tolerance on Personal Pension Participation Willingness: Analysis Based on SEM

Authors
Siyi Wei1, *, Yuanhui Li1, Changqi Huang1
1School of Public Policy and Management, Guangxi University, University Road 100, Xixiangtang District, Nanning City, 530004, China
*Corresponding author. Email: 15778696160@163.com
Corresponding Author
Siyi Wei
Available Online 16 September 2025.
DOI
10.2991/978-94-6463-845-5_77How to use a DOI?
Keywords
Personal pension; uncertainty tolerance; prospect theory; structural equation model
Abstract

This study constructed a structural equation model grounded in prospect theory to investigate the multidimensional mechanisms through which uncertainty tolerance (UT) affected personal pension participation willingness (PW). By analyzing 326 valid questionnaires collected through online surveys from China's first batch of pilot regions, it was demonstrated that loss aversion, reference dependence, and probability weighting distortion significantly influenced pension participation decisions through mediators including the UT of policy environment perceptions (PE) and the social environmental and financial situation (EF).The research particularly highlighted the contextual factors in China's transitional pension system reform. Empirical results revealed that PE exerted the strongest direct effect on PW(β = 0.484), while the tolerance of financial status uncertainty showed insignificant path coefficients,suggesting institutional trust outweighs economic calculus. This research integrated behavioral economics with pension decision mechanisms,revealing cognitive-emotional interactions in retirement planning, offering theoretical foundations for policy optimization and targeted interventions.

Copyright
© 2025 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2025 6th International Conference on Management Science and Engineering Management (ICMSEM 2025)
Series
Atlantis Highlights in Economics, Business and Management
Publication Date
16 September 2025
ISBN
978-94-6463-845-5
ISSN
2667-1271
DOI
10.2991/978-94-6463-845-5_77How to use a DOI?
Copyright
© 2025 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Siyi Wei
AU  - Yuanhui Li
AU  - Changqi Huang
PY  - 2025
DA  - 2025/09/16
TI  - Effects of Uncertainty Tolerance on Personal Pension Participation Willingness: Analysis Based on SEM
BT  - Proceedings of the 2025 6th International Conference on Management Science and Engineering Management (ICMSEM 2025)
PB  - Atlantis Press
SP  - 761
EP  - 773
SN  - 2667-1271
UR  - https://doi.org/10.2991/978-94-6463-845-5_77
DO  - 10.2991/978-94-6463-845-5_77
ID  - Wei2025
ER  -