Research On The Mechanism And Effect Of The Basic Endowment Insurance For Urban And Rural Residents To Adjust The Income Gap Of The Rural Elderly

Since the 21 st century,China’s population aging has continued to deepen,and the income gap has also continued to expand.Endowment insurance is one of the most important sources of income for the elderly,which is related to the vital interests of the elderly,and plays a significant role in ensuring the life of the elderly in their later years.In February 2014,the State Council officially announced the integration of "new rural insurance" and "urban residential insurance" as "basic old-age insurance for urban and rural residents".After 9 years of self-improvement,the basic old-age insurance system for urban and rural residents has been basically completed.It is of great significance to study the adjustment role of basic old-age insurance for urban and rural residents on the income gap of rural elderly so that it can fully play the role of income redistribution and improve the happiness of rural elderly.This paper studies the mechanism and effect of the impact of basic old-age insurance for urban and rural residents on the income gap of the rural elderly.Based on the relevant theories in public economics,this paper analyzes the mechanism of pension insurance to adjust the income gap of the elderly.According to the survey data of the China Household Finance Survey(CHFS)in 2015,2017 and 2019,this paper analyzes the basic income situation of the elderly in rural areas,and calculates the income inequality gap of the obtained data with the Thar index as the indicator.The study found that: first,basic old-age insurance for urban and rural residents can reduce the income gap of rural elderly;Second,the basic old-age insurance for urban and rural residents has a greater effect on reducing the income gap between rural men than women;Third,the effect of basic old-age insurance for urban and rural residents on reducing the income gap between the aged 70 to 80 years old and the aged over 80 years old in rural areas is greater than that of the aged 60 to 70 years old in rural areas;Fourth,the basic old-age insurance for urban and rural residents has no significant difference in reducing the income gap of the rural elderly in the western,central and eastern regions of China.Admittedly,the research on the effect of the behavior of rural residents to pay insurance premiums on the income gap is still insufficient.However,this paper makes some innovations and supplements to the existing research.First,the research object is the income adjustment effect of basic endowment insurance for urban and rural residents on the rural elderly;The second is to use the highly accurate and representative Chinese household financial survey data for group calculation and draw relevant conclusions.It makes up for the lack of existing research.