Research On The Impact Of Old-Age Insurance On Urban Residents' Consumption Under The Background Of Aging In China

In recent years,our country has made remarkable achievements in the scale and structure of consumption,and the level of consumption has been greatly improved.However,there is still much room for the improvement of private consumption in our country.At present,there are many problems in the consumption of Chinese residents.In order to turn consumption potential into power and savings into consumption,we need to improve the income distribution and social security system conducive to improving residents' consumption ability,and deepen the reform of income and distribution-related system continuously,so as to provide fundamental power for expanding consumption.Another thorny problem in our country is the rapid aging of population.An unavoidable and deepening aging society is coming rapidly.Changes in the age structure of the population will also affect the savings rate,social consumption and investment.There is still a big problem with the aging of the population: pensions.In the future,the expenditure of pension will be more and more,which is a big test for the social security system and system of our country.Old-age insurance is an important part of China's social security system.A perfect old-age insurance system plays an important role in promoting social stability and economic development.The ways that pension insurance expenditure can stimulate the growth of residents' consumption expenditure are: increasing residents' disposable income,adjusting residents' income redistribution and reducing residents' savings motivation,etc.Due to the gradual increase of the proportion of the elderly population in China,the impact of endowment insurance in people's social life will become stronger and stronger.The old-age insurance system is closely related to the two major problems of population aging and high savings rate in China.The consumption level and structure of urban residents in China change with the development of economy and society,and the old-age insurance system in China is also constantly improving.Therefore,it is urgent and meaningful to study the relationship between endowment insurance and urban residents' consumption.This paper chooses the provincial panel data of 31 provinces and municipalities in China from 2001 to 2017 to empirically analyze the relationship between pension insurance expenditure and urban residents' consumption,and also to analyze the impact of pension insurance on the consumption structure of urban households.Through the empirical analysis,it is believed that the old-age insurance system in China has initially taken shape and operated steadily,which has a certain promoting effect on the consumption of urban residents.Finally,some feasible suggestions are put forward to improve the old-age insurance system and system and stimulate consumption.