Investigating the intention of purchasing private pension scheme based on an integrated FBM-UTAUT model: The case of China

Abstract

The newly established private pension scheme in China has received great attention as it would be an important supplement to China’s social safety net and corporate annuity amid an aging population. It provides a way of helping to address the challenge of ensuring adequate retirement income, and the scheme is expected to grow significantly in the coming years. This study investigates factors affecting the intention of purchasing the private pension scheme using a conceptual model based on the integration of Fogg Behavioral Model (FBM) and Unified Theory of Acceptance and Use of Technology (UTAUT) model. The questionnaire-based data from a sample of 462 respondents had been analyzed. Both exploratory factor analysis and confirmatory factor analysis were used to assess validity. The hypothesized relationships in the integrated FBM-UTAUT model were tested using structural equation modeling. The research findings indicate that anticipation, social influence, effort expectancy, performance expectancy, side benefits and facilitating conditions have significant positive impacts on intention to purchase. According to the exploratory factor analysis, the integrated FBM-UTAUT model can explain more than 70% of the total variance. Meanwhile, effort expectancy can be affected by time effort, thought effort and physical effort collectively, while performance expectancy can be affected by risk and trust. It is revealed that the integrated FBM-UTAUT model can be effective in explaining purchase intentions in a private pension scheme context, and this study is expected to offer helpful advice on the design of pension products and the reform of pension policies.

Technology Adoption and Usage Behaviors in Field Incident Management System Utilization

“…Regression analysis will enable the identification of the variables that significantly affect the intention to adopt and use IMS [28,29]. It will be a use of a convenience sampling method to gather data from employees who use IMS in their daily work [30,31,32,33]. A power analysis will be conducted to determine the appropriate sample size.…”

A Combined Model to Examine Contributory Factors to Vietnamese Employee’s Adoption of Life Insurance with Pension Scheme

“…They found significant supporting evidence for all hypotheses: pension knowledge, perceived usefulness, perceived risk, and trust. Wu and Gong (2023) integrated the FBM and UTAUT models to construct a conceptual framework and investigated the determinants of the intention to purchase a private pension scheme in China. The research findings indicated that the two most influential factors are Effort Expectancy and Performance Expectancy.…”