Research About Impact Of Pension Insurance To Income Inequality

Since the birth of social pension insurance,it undertakes the task of regulating the redistribution of income and promoting social fairness.With the development of the social pension insurance system in our country for more than half a century,it gradually breaks the barriers of household registration and urban and rural areas and escort fair and equitable with system benefit,as the state continuously improves the top-level design of the social security system,although it has the unbalanced and inadequate development of urban and rural area.Income,on the other hand,plays an important role for personal saving and consumption as a source of livelihood.Inequality in income affects not only the inequality of individual outcomes,but also inequality in intergenerational opportunities that warrants more vigilance.The social security system of the old-agers can adjust the income through intergenerational and inter-agency payment and payment,and then increase the overall welfare level of the society as a permanent income and change the residents 'income expectation,thereby affecting residents'real economic wellbeing.Marx's Political Economics about social insurance and Wealth economics of Arthur Cecil Pigou believe that pension social insurance system contributes to care for the poor,reduce income inequality and promote social equity and justice.To some extent,the pay-as-you-go system realizes the redistribution of income between different income classes and generations.Fully funded system redistribus income in different life cycles.Income inequality is the true reflection of personal well-being.Therefore,in this paper,CHARLS 2013 and 2015 data are used to measure the impact extent of social pension insurance system on income inequality and inequality of consumption from the four aspects:whether or not to participate,whether or not to receive,the contribution rate and the pension income.Meanwhile,based on SSW(social security wealth).Experimental verification found that participating in and receiving pension insurance have inhibite effect on residents income inequality and consumption inequality,and pension social security system is more conducive to reducing inequality for low-income people.Therefore,the system design of social pension insurance should pay more attention to low-income people's attention,in order to increase residents' per capita disposable income,stimulate their willingness to consume and promote consumer spending,and ultimately reduce the degree of inequality and improve their personal welfare.