| With the continuous increase of life pressure,the importance of improving people’s quality of life and enhancing residents’ happiness for the harmonious and stable development of society has become increasingly prominent.Since China entered an aging society,the elderly care for residents has always been a livelihood issue that people care about.The increasingly serious problem of population aging has not only increased the pressure on people to support their parents and their own pension preparations,but also put forward an urgent need to further deepen the reform of the pension insurance system and improve the happiness of residents’ lives.At present,my country’s basic pension reserve is insufficient to meet the needs of the elderly,and the coverage of corporate annuity insurance is relatively low,which highlights the importance of commercial pension insurance for individuals and families to provide pension preparation.Commercial pension insurance can meet residents’ pension investment needs,help residents complete pension reserve savings,improve the family’s ability to resist risks in later years,and improve residents’ pension protection level.Although there are some problems in the first and second pillars of my country’s old-age insurance system,commercial old-age insurance can make up for this shortcoming to a certain extent.In theory,purchasing commercial old-age insurance can improve the happiness level of residents.The low insurance density and depth,limited product innovation and other reasons may not be able to effectively meet the residents’ pension needs.Whether it can effectively improve the residents’ happiness level requires further research and analysis through empirical methods.Based on this,this paper selects the 2018 China Family Panel Studies data as an empirical sample,and uses the propensity score matching method to analyze the impact of commercial pension insurance on residents’ happiness.The article is divided into five parts.The first three parts describe in detail the development process of commercial pension insurance and the current status of residents’ happiness.The research content and methods of this article are determined on the basis of reference to relevant documents,and three are proposed based on related theories.Research hypotheses.The fourth part introduces the data sources and variables selected in this article,introduces the matching principles of the propensity score matching model,and expounds the impact of commercial pension insurance on residents’ subjective well-being through empirical analysis,and according to the different stages of insurance and household registration.The samples were analyzed for heterogeneity.The empirical results show that purchasing commercial pension insurance can significantly improve the happiness of residents,but it has different effects on different groups of people.The specific performance is: commercial pension insurance can significantly improve the happiness of residents in the payment stage and pension receiving stage.However,the happiness effect of commercial pension insurance for residents in the pension receiving stage is greater than that of residents in the payment stage;commercial pension insurance can significantly improve the happiness of rural residents,but the impact on urban residents is not obvious.The research results show that commercial pension insurance can guarantee the stability of residents ’ cash flow after retirement,take into account the needs of wealth appreciation and pension protection,and improve residents’ sense of security and satisfaction in life,thereby enhancing residents’ well-being.Finally,the article puts forward suggestions for reference on how to further promote the development of commercial pension insurance in my country based on the conclusions of empirical research.The innovation of this paper is to use the PSM model to solve the problem of individual self-selection bias in the model.In addition,the academic circles have few research results on the relationship between commercial pension insurance and residents’ well-being.The research in this article can enrich the research results in this direction to a certain extent. |
