Abstract: The continuously increasing population aging in China has led to the increasing demand for socialized old-age care. By constructing the utility function of urban workers' basic pension insurance premium and socialized old-age demand, and based on the 2018 China Elderly Social Tracking Survey(CLASS) data, the empirical study shows that the increase in workers' basic pension insurance premium increases the demand for socialized old-age in urban areas, with the net effect of its impact ranging from 22.3% to 23.6%. Moreover, there is heterogeneity in the demand for socialized old-age care among different cohorts, with women, younger, and healthier older adults having higher demand for socialized old-age care due to employee basic pension insurance than men, older, and less healthy older adults. Among them, financial support from children plays a positive moderating effect, while time support plays a negative moderating effect. In view of this, on the one hand, the construction of a multi-level old-age security system should be encouraged, while on the other hand, the construction of an inclusive old-age service system that adapts to diversified needs should be accelerated while actively supporting home-based community care.
