The New Rural Social Pension Insurance: Fiscal Support And Institutional Reconstruction

Coping with the grim situation of rural population aging and the increasing weakness of family support, it is high time to establish and perfect the rural social pension insurance system adapted to China's reality. The evolution process of rural social pension insurance system is mainly the mandatory change in which the government takes the lead, so does the new rural social pension insurance which has many defects of its financial supply in current pilots, such as inadequate protection and lower overall plan level. The mechanism effect of financial support for rural social pension insurance shows the increase of public fiscal expenditure for the insurance can effectively reduce the peasants'income Gini coefficient and enhance their consumption demand. Therefore the model of fiscal support for rural social pension insurance should be reconstruct for its sustainability and the sustainable development of the new rural social pension insurance system. Based on the perspective of coordinating and balancing urban-rural development, with the system model of "fundamental annuities + individual account", the thesis proposes an implementation of dynamic "exit mode" for government subsidies, and then adopts ARIMA model to predict its feasibility, and finally puts forward relevant policy suggestions to promote the effective connection of urban and rural old-age security system.