A Study On The Impact Of The Basic Pension Insurance On Family Support Behavior

With life expectancy rising and family size shrinking,China’s family support behavior has been severely impacted.Under the background of the continuous improvement of basic pension insurance and the transformation of intergenerational relations,this paper,based on the perspective of two-way intergenerational transmission,investigates the mechanism and effect of basic pension insurance on the maintenance behavior,and designs countermeasures and ideas for improving the basic pension insurance policy and giving play to the role of intergenerational feedback.Under the intergenerational support theory,this article uses the income effect and time effect two paths to construct the mechanism through which primary pension insurance influence family support behaviors.Based on data from 2016 China Family Panel Studies,using multiple linear regression,the Logit regression and tended to score matching microscopic measurement methods,respectively from the offspring-father and father generation-the offspring to estimated state of primary pension insurance of economic support,life care and spiritual consolation on three dimensional support behavior effect,and analyze the heterogeneity.The research conclusions of this paper mainly include the following four aspects:First,children’s participation in urban workers’ pension insurance can significantly improve the probability of parents’ getting economic support and living care.On the premise of controlling individual characteristics and family economic characteristics,the participation of children in the basic pension insurance for urban workers can increase the probability of elderly parents getting economic support and life care by10.3% and 22%,respectively.The above results remain stable while solving the self-selection problem of participating in the insurance.Second,children’s participation in the old-age insurance for urban and rural residents can significantly improve the probability of elderly parents’ getting life care and spiritual comfort.On the premise of controlling individual characteristics and family economic characteristics,the participation of children in the basic pension insurance for urban and rural residents can increase the probability of elderly parents getting life care and spiritual consolation by 21% and 46.6%,respectively.The above results remain stable in the case of solving the self-selection problem of participating in the insurance.Third,the supply of children’s participation in the basic pension insurance to their parents to enhance their support behavior is mainly composed of two paths,namely the income effect and the time effect,and the income effect plays a leading role.After the children participate in the basic pension insurance,the future income stream will increase and the preventive savings motivation will be alleviated accordingly,so the current transfer expenditure will increase,that is,the economic support for parents will be increased.In addition,after the children participate in the basic pension insurance,they will have relatively fixed work and leisure time,and the increase of leisure time will release the vitality of the children to provide life care and spiritual consolation,thus increasing the provision of overall maintenance behavior.Fourth,the participation of the father-generation pension insurance improves the children’s economic support,life care and spiritual comfort for the elderly parents.Under the premise of controlling individual characteristics and family economic characteristics and other factors,the probability of parents’ participation in the basic pension insurance increased by 26%,3.1% and 16%,respectively,to receive economic support,life care and spiritual consolation from their children,indicating that the pension insurance did not push out the support from their children.Based on the above empirical conclusions,this paper puts forward policy suggestions to improve pension insurance policies and raise the level of support for the elderly from the aspects of expanding the coverage of basic pension insurance,improving the benefits of basic pension insurance for urban and rural residents,and improving the endowment service system to ease the time constraint and support burden of children and other aspects.