Pension Burden,Social Security And Family Education Expenditure

Family education expenditures are closely related to the cultivation of children,family welfare and human capital accumulation,and have long been valued by Chinese families.At the same time,the aging population has become an important problem facing the Chinese society.Under the background that family pension is still the most important pension method in China,the burden of family pension formed by population aging is gradually increasing,and the resulting impact may affect family human capital investment and education expenditure.Social security may help ease the burden of family pensions and promote human capital investment.Based on this,based on existing theories and literature,this paper analyzes how family pension burden and social security affect the educational expenditure of Chinese families and the theoretical mechanism behind it,and constructs a simple generational overlap model to illustrate the relationship between the three.Furthermore,this paper examines the relationship between pension burden and family education expenditure based on the 2016 family micro-data of the China Family Panel Studies(CFPS)and social security macro-data,and judges the role of social security in this process.The research results show that: First,the conclusion of the theoretical model shows that the optimal savings discount rate of the rational family and the future return rate of education investment are consistent,and as the household old-age burden is heavier,education expenditure and the future return of education expenditure The lower the rate,but the implementation of social security can effectively increase family education expenditures,and the implementation of social security can effectively reduce the negative impact of pension burden on family human capital investment.Secondly,from the empirical results,the pension burden will lead to a decline in family education expenditures,and it is mainly reflected in the extracurricular tutoring costs of non-school education and other education expenditures.At the same time,there is a heterogeneity in the impact of the old-age burden on family education expenditures: overall,the old-age burden on the education expenditure of families in the western region,urban areas,lower income,lower education level,and children whose school age is in the non-compulsory education The suppression effect is greater.Finally,the results of the empirical analysis also show that,compared with regions with high social security ownership rates,household education expenditures in areas with low social security ownership ratesare more likely to be affected by the burden of old-age care.At the same time,social security has a positive regulatory effect in the process of pension burden affecting family education expenditure,that is to say,social security can reduce the negative impact of pension burden on family education expenditure.In addition,there is heterogeneity in the regulatory effect of social security,and pension insurance has a greater positive regulatory effect in urban areas and low-income families.Based on the above research conclusions,this paper puts forward policy tests in terms of optimizing the family education expenditure structure,improving the old-age security system and promoting the labor participation rate of the elderly.The research in this paper is an important extension of the micro-human capital theory.It supplements the existing literature in related fields by verifying the substitution relationship between the household pension burden and human capital investment from the micro-family perspective.In addition,this paper uses a theoretical model to incorporate social security into the research framework,and examines how social security eases the family 's pension burden to promote human capital investment and education expenditure,which further verifies the role of social security in improving family welfare and pension security.To provide more enlightenment for follow-up related research.