Study On The Influencing Factors Of The Basic Old-age Insurance Level Of China’s Urban Workers

The basic old-age insurance system is a kind of insurance system with the fundamental purpose to ensure the basic needs of life for the elderly retired people. In the process of practice, due to the influence of certain factors, the basic old-age insurance level in China shows a series of problems, mainly for the obvious regional differences about treatment level and coverage level of the China’s basic pension insurance for urban employees. In order to completely solve the problems of uncoordinated and unfair of the basic old-age insurance system in China between these areas in the practice operation, it needs we look at the situation of the endowment insurance, to study the impact factors of the basic endowment insurance level in China, and then take effective measures to solve these problems combined with the research results.First of all, this article analyzes the current development situation of China’s basic endowment insurance for urban workers from four aspects with the expenditure level, income level, the level of treatment and coverage level, and analyzes the problems reflected on the status, to find out the influence factors of China’s basic pension insurance for urban employees. Secondly, on the basis of the analysis with relevant data, this paper uses the method of principal component analysis, carrying out empirical research about the influence factors of the basic old-age insurance level of China’s urban workers, through the empirical study found that, the influence factors of the basic old-age insurance level of China’s urban workers are mainly divided into three aspects: first, the government departments management factor, this factor have a positive effect on the level of old-age insurance for urban workers in China; second, the aging of the population factor, The degree of population ageing aggravation will reduce the per capita pension payment level, which is disadvantageous to promotion the level of old-age insurance for workers in urban areas in China; third, the economic development factor, the extent of economic development directly affects the level of endowment insurance, the more developed the economy, the more conducive to raising the level of old-age insurance. Finally, according to the empirical results, this paper puts forward relevant policy suggestions from three aspects: to standard the function of government departments, to raise the retirement age appropriately, to promote the economic development scientifically.