Research On The Level Of New Agricultural Insurance Basic Pension

Recently, with the rapid development of population aging and the rapid advance of industrialization and urbanization, the protection of agricultural production and the traditional family pension mode has been significantly reduced. In order to improve the ability of rural residents to cope with the risk of pension, the office of the State Council proposed to carry out the new rural social pension insurance(referred to as the new agricultural insurance) system, which makes the rural elderly people enjoy the basic pension. By the end of 2014, the country’s 2854 county-level administration areas have carried out a comprehensive work of the new agricultural insurance system. And more than 11,85 millon 60-year-old rural elderly residents receive a basic pension.Pratt&Whitney type pension system in developing countries and low-income countries has proved that the basic pension system can not only meet the basic needs of rural elderly people, but their substitution function of income. The substitution function of income can fight poverty,increase the life expectancy and facilitate economic growth. Therefore, it is significant to study the appropriate level of basic pension for the protection of rural residents’ social insurance rights and interests, and realize the sustainable development of the new agricultural insurance system.This paper is divided into seven parts in the research of the new rural insurance and the basic level of the basic pension. First,based on the new agricultural insurance system and the basic pension level of the research results in the first two parts, the government’s responsibility to share the risk of rural residents in rural areas has been cleared, and the gist of the new agricultural insurance basic pension’s level of quantitative and adjustment has been dissected. In the third part, based on the summarizing the characteristics of the new agricultural insurance basic pension, the development status, the existing problems and the main reasons of the problem are analyzed. In the fourth part, setting out from the new agricultural insurance policy objectives, based on Maslow’s theory, utility theory and the bottom line equity theory, in the combination of rural residents’ income elasticity of demand income elasticity coefficient of rural residents based on the level of demand, and with the expansion of linear expenditure system model and the main years of rural residents income and expenditure data, the level of 2009-2015 years of basic pension needs has been quantified specifically.The fifth part of the paper is from the new agricultural insurance system, the financial burden level model, the social insurance law and the social security expenditure structure, the paper defines the basic pension financial burden level, combined with China’s main years of fiscal revenue and census data, based on the fourth part of the study, the 2010-2015 years of modest basic pension demand. In the sixth part, the relevant parameters are designed and GM(1, 1) grey forecasting model is used to study the demand level and supply level of new agricultural insurance basic pension in 2016-2024. The seventh part draws the conclusions and Countermeasures of this paper:(1) the current new agricultural insurance basic pension is not enough to meet the basic needs of rural elderly people’s basic food expenditure, income replacement is low, not fully play the role of social pension insurance income redistribution, improve the level of basic pension is the general trend.However, with the improvement of living standards, the degree of dependence on the foundation of rural residents gradually reduced, which means that the financial burden of the basic pension will be more and more small. With ELES model, the average net income of rural residents in the next ten years is the basis of the quantitative and adjustment of the new agricultural insurance basic pension needs, and can be used to achieve the basic pension under the multiple constraints, such as ensuring the basic and financial burden.(II) the central and local governments on the basis of pension expenditure responsibility imbalance is in basic pension security level is low, regional compartmentalization of the development of the root causes. On the central government social security expenditure responsibility gradually increase and increase the basic pension of the overall management level and investment channels, through legislation, clear to the state based, supplemented by local basic pension financial burden sharing mechanism is will raise the level of basic pension is to put into practice the key.