人口老龄化及人类寿命的延长是当今全球人口发展的一大趋势,这在我国的表现更为突出。寿命的延长一方面提高了退休生活的成本,另一方面也加大了退休金准备不足的风险。因此,经济学家引入了长寿风险的概念来表示因寿命过长而导致的退休金准备不足的风险。在同时面临财务风险和长寿风险的情况下,最优财富配置决策就变得异常 The aging population and the prolongation of human life expectancy are the major trends in the development of the world’s population today. This has been more prominent in our country. Longer life expectancy increases the cost of retirement, on the one hand, and increases the risk of under-provisioning pensions, on the other. As a result, economists have introduced the concept of longevity risk to indicate the risk of insufficient pension provision due to long lifespan. In the face of both financial and longevity risks, the optimal wealth allocation decision becomes abnormal