Does Retirement Increase Fraud Exposure and Fraud Victimization? Evidence From China

Abstract

This study investigates the impact of retirement on fraud exposure and victimization among the older adults in China. Using data from the China Health and Retirement Longitudinal Survey, it employs instrumental variable regression, exploiting the statutory retirement age in China as a source of exogenous variation. The findings indicate that retirement does not significant affect fraud exposure but significantly increases the risk of fraud victimization and associated financial losses for older adults. The primary channels through which retirement influences fraud victimization include changes in post-retirement time allocation and increased psychological vulnerability.

Keywords: China; fraud exposure; fraud victimization; retirement.