The Impact Of Urban And Rural Residents Social Pension Insurance On The Labor Supply Of The Rural Elderly

Population aging is a common issue facing the world today.In most developed countries,the level of population aging in the city is higher than the level in the countryside,but our country's situation is opposite.Our country stepped into the aging of the population under the background of the dual division system of city and countryside,and the economic level of rural areas is relatively low whose ability to cope with aging is poor.In addition,a large number of young people flew to the city which has increased the degree of aging in rural areas,so the problem of the rural population aging is more serious.Besides,the "endless labor" phenomenon is prevalent in China's rural areas,the majority of the elderly choose "keep working until die".In order to alleviate the pension pressure of rural residents and to reduce the working burden of the rural elderly,the Chinese government began to promote the New Rural Social Pension Insurance(NRSPI)system since 2009.In 2014 the government merged the NRSPI and the Urban Residents Social Pension into the Urban and Rural Residents Social Pension Insurance.The Urban and Rural Residents Social Pension Insurance is an important part of our social security system whose implementation of the principle is "low level,wide coverage" and the aim is to enhance the ability of urban and rural residents to resist the risk of old age and realize the situation in which all the old people are under supported.This paper attempts to study the effect degree of the Urban and Rural Residents Social Pension Insurance system,from the perspective of the situation of the rural old residents' labor support,so as to examine the implementation of the system.This paper,referencing to the existing researches on the old-age insurance and the labor supply relation,is based on the personal labor supply decision theory and the life cycle theory.Finally,using the CHARLS national survey data in 2011 and the follow-up data of 2013,the rural elderly above 60 years old was used as the research sample to construct related measurement models to analyze and study.The empirical results show that the Urban and Rural Residents Social Pension Insurance has a clear effect on the labor supply of the rural elderly,which effectively reduces the working time of the rural elderly,but has an insignificant impact on the probability of participating in the labor force.The low level of pensions may be the main reason.The results also reveal that family supporting and the elderly's own working income is still the main way of rural old-age pension,and the Urban and Rural Residents Social Pension Insurance plays mainly the role of supplementary pension which still has a lot of room for improvement.In addition,the age of the elderly in rural areas,their health status,the number of their children going abroad and the living arrangements also have a significant impact on their labor supply.According to the results of the study,this paper suggests that government departments should increase financial investment,raise subsidy standards and gradually improve the payment mechanism in the implementation process of the Urban and Rural Residents Social Pension Insurance,so as to improve the adaptability of the system.In addition,the related departments should introduce relevant policies to relax the restrictions on investment conditions of the fund,and instruct the local government to invest the fund effectively and safely.Furthermore,government departments should Increase publicity efforts,paying more attention to the implementation of the policy,and provide payment advice to the rural elderly depending on their actual situation.Besides the rural elderly should be encouraged to participate in the Urban and Rural Residents Social Pension Insurance earlier to choose a higher payment grade so that they can get more in return.