Research on the Multidimensional Characterization, Formation Mechanism, and Governance Pathways of Pension Financial Exclusion in Rural Shandong Province

Abstract

Abstract This paper systematically analyzes the multidimensional characterization and governance pathways of pension financial exclusion in rural Shandong Province. The study reveals that pension financial exclusion in rural Shandong exhibits systematic and complex characteristics, manifested through multiple intertwined dimensions: supply-side issues such as “insufficient service accessibility, low product effectiveness, and information asymmetry”; demand-side challenges including “low financial literacy, weak digital skills, and limited payment capacity”; and policy environment shortcomings like “lack of coordination, inadequate regulation, and insufficient guarantees”. By comparing domestic typical mutual aid cooperation models such as “time banks” and “built-in finance”, and analyzing practical cases within Shandong Province, this paper summarizes diversified governance experiences centered on activating endogenous community resources, revitalizing land assets, and achieving policy incentive compatibility. Based on this, the paper proposes constructing a systematic governance framework of “supply-side – demand-side – policy environment – multi-stakeholder collaboration”, aiming to provide theoretical references and practical pathways for building a comprehensive, fully supplied, affordable, and accessible rural pension financial service system in Shandong Province, thereby contributing to rural revitalization and the modernization of Chinese-style pension systems.