This interdisciplinary study explores the social foundations of retirement saving among China’s Generation Y, emphasizing how psychological, social and demographic factors, particularly individual financial capabilities, gender and intergenerational learning, interact within broader societal structures. By framing financial preparedness as a socially embedded process, the research contributes to ongoing sociological and policy debates on economic behavior, life-course well-being and social equity in the context of an aging population.
A sequential mixed-methods approach was employed. The qualitative phase involved in-depth interviews with 12 Chinese Gen Y participants to identify key behavioral constructs related to retirement saving, shaped by individual capabilities, psychological orientation and social influence. This was followed by a quantitative survey of 243 Gen Y employees, with hypotheses tested through structural equation modeling and moderation analysis.
Financial literacy and early financial learning positively influence retirement saving behavior. Future time perspective strengthens these relationships, while gender significantly moderates the effect of early learning, with women particularly responsive to early-life financial socialization.
Findings call for inclusive financial education policies that consider gender equality and intergenerational factors, advancing equity and resilience under aging-related social policy challenges.
This study introduces the capability-willingness-opportunity framework to retirement savings and conceptualizes financial preparedness as a socially constructed outcome with mixed methods. By linking psychological factors with gender and intergenerational learning, it offers a novel interdisciplinary lens and supports inclusive, equity-oriented financial education policies.
