Study On The Influence Of Basic Pension Insurance For Urban Employees In Shanxi Province On Their Staff Consumption

In recent years,China's consumer demand growth has been slow,and residents' savings have remained high.Under this background,the Twelfth Five-Year Plan of the Central Committee of the Communist Party of China proposed to “expand the consumption demand as the strategic focus of expanding domestic demand and further release the residential consumption potential”.In the thirteenth five-year plan proposal,we pointed out that “the basic role of consumption in growth is to be exerted,efforts should be made to expand household consumption,and consumption should be guided to change in the direction of intelligence,green,health,and safety,and consumption should be the focus of expanding service consumption structural upgrading.”The factors that lead to the lack of long-term consumer demand in China are many.Among them,the incomplete system of the basic old-age insurance system is one of the important factors affecting the insufficiency of consumer demand,and the basic endowment insurance system for urban employees is the basic old-age insurance system in China.The imperfections in the important content of the system will have an important impact on the consumer demand of urban residents.The contents of the report of the 19 th National Congress pointed out: "Continuously improve the basic old-age insurance system for urban workers." Therefore,with the increasing aging problem,it is of great significance to study the influence of basic pension insurance for urban employees on the consumption of urban residents,in order to expand the national economic consumption demand and the healthy development of the national economy.This article first sorts out the relevant literature materials of domestic and foreign scholars,and based on the life cycle theory,absolute income hypothesis theory,and prospective savings theory,proceeding from the actual situation in Shanxi Province,the secondary data analysis method is used to illustrate Shanxi Province in the form of maps and tables.At the same time,according to the theoretical basis proposed in Chapter 2,the relevant influence effects are proposed;based on the regression analysis,an empirical study based on the life-cycle consumption theory model is conducted to verify that the basic pension insurance for urban employees in Shanxi Province is an important factor affecting the consumption of urban employees.The interpretation variable of endowment insurance shows that the coverage of basic pension insurance for urban employees has a significant positive impact on the consumption of urbanemployees,while the contribution rate and replacement rate have a negative impact on the consumption of employees.Finally,based on the findings of this paper,five suggestions are proposed from three levels: From the perspective of the pension insurance system,including continuing to expand the coverage of pension insurance,increase the level of pension expenditures,and improve the pension insurance service system;from the perspective of the wage increase mechanism of employees,It is necessary to improve the wage growth mechanism to stimulate consumer demand.From the perspective of economic development,it is necessary to optimize the consumption structure and raise the wage level of urban employees.In order to provide reference for the government,social security agencies and other relevant departments of decision-making and other provincial issues related research.