A Study On The Influencing Factors Of Rural Residents’ Pension Payment Grade Selection

With the deepening of the aging of the population in China,the issue of providing for the elderly has become increasingly prominent,especially for rural residents.As an integral part of the social security system,urban and rural residents’ pension insurance is very important for ensuring that urban and rural residents have a sense of security for the elderly.In 2021,the number of urban and rural residents covered by old-age insurance in China has reached 548 million,of which more than 90% are rural residents,providing a relatively stable source of income for rural residents’ elderly life.However,in the process of implementing the system,in addition to the low level of basic pensions,the low level of participation and contributions of rural residents is also a problem that must be addressed.The low level of contributions will lead to insufficient accumulation of pension funds in individual accounts,low replacement rates of pension funds in individual accounts,and ultimately lead to low levels of old-age insurance for urban and rural residents,making it difficult to achieve the basic goals of old-age insurance for urban and rural residents.Based on this issue,this article takes H City in Anhui Province as an example to sort out the development process of urban and rural housing insurance policies in H City,and studies the payment situation of urban and rural residents in H City.From the perspective of county level,this paper takes the payment level selected by rural residents participating in the insurance as the research object,and conducts relevant descriptive statistics on the insurance participation of rural residents in H City through questionnaires and interviews.Combined with horizontal cross analysis and summary,the analysis was conducted from three aspects: personal level,system design,and policy implementation effectiveness.It was found that the low willingness of young people to participate in insurance,low income level,low payment level setting,weak incentive of financial subsidies,inadequate policy publicity,and low trust in fund management were important reasons for choosing a lower payment level.In order to achieve the basic goal of old-age insurance for urban and rural residents,on the basis of improving the level of basic pensions,it is necessary to improve the level of contributions to old-age insurance for urban and rural residents,guide rural residents to choose high-end insurance participation,and increase the accumulated amount of personal accounts.Therefore,the government should start from the following aspects: first,continue to optimize the rural revitalization strategy,vigorously develop the rural economy,improve the level of economic income,and enhance the ability of farmers to pay fees;The second is to change the concept of providing for the elderly,improve the awareness of participation in insurance for the younger group,and improve the level of payment;Third,improve the system design,optimize the payment level setting,and improve the incentive of financial subsidies;Fourth,increase policy advocacy,strengthen fund supervision and operation,and improve the credibility of the system.