| During the "14th Five-Year Plan" period,promoting the national pooling of basic endowment insurance,expanding the coverage of enterprise annuities,developing commercial endowment insurance,and building a multi-level and multi-pillar endowment insurance system are not only a necessary steps to deal with the aging of the population,but also a necessary step to "improve the multi-level social security system that covers all the people,integrates urban and rural areas,is fair and uniform,and is sustainable".Which are also a necessary condition and an important guarantee to realize the people’s aspiration for a better life,enhance their sense of access,happiness and security,and achieve the 2035 vision.As an important part of the multilevel endowment insurance system,supplementary endowment insurance is of great significance to the daily production and life of residents.Some studies have now proved that basic endowment insurance can effectively enhance residents’ happiness and promote social development.Then,in the process of comprehensively constructing a multi-level endowment insurance system,it is necessary to further explore and analyze whether and how the supplementary endowment insurance can influence the residents’ happiness.Based on this,this paper uses data from the 2018 China Family Panel Studies(CFPS),with participation in supplementary endowment insurance as the independent variable.Firstly,study the relationship between happiness and supplementary endowment insurance among urban and rural residents in China.Secondly,the method of propensity score matching is used to test the robustness,and then identifying mediating variables to do a mediation test to verify the mediation effect.Finally,conducting a difference-in-difference analysis of the grouped samples,to explore the differences in the effects of supplementary endowment insurance on the happiness of residents in different regions and with different individual characteristics,and conduct corresponding analysis for different results.The main findings of this paper show that the overall happiness of Chinese residents is at a relatively happy stage,and supplementary endowment insurance can promote the happiness of Chinese residents,but the impact of enterprise supplementary endowment insurance on the happiness of residents is more significant.Specifically,there are urban-rural and regional differences in the effects of supplementary endowment insurance on residents’ happiness,the concept of social equity plays a mediating role between supplementary endowment insurance and residents’ happiness,and the effects of supplementary endowment insurance on the happiness of residents of different ages,education levels,and health status are different.Finally,based on the findings of this paper,several policy recommendations are proposed for the development of supplementary endowment insurance and the enhancement of residents’ happiness in China. |
