We study how pension participation and expected pension benefits affect the consumption of working-age adults based on a nationally representative dataset from the China Health and Retirement Longitudinal Study during the period 2011–2015. We find that working-age adults covered by the...

This paper documents the long-term dynamic participation into the New Rural Pension Scheme (NRPS) in China, which has been expanded to nearly universal coverage. Although the NRPS is highly subsidized and strongly promoted by Chinese government, a large proportion of residents procrastinate in...