Study On The Impact Of "The New Rural Social Pension Insurance" On The Consumption Of Rural Households

The social security system is the stabilizer of the society.The Social Pension Insurance serves as a stable and reliable source of life for the elderly and meets their basic living needs.Since the State Council launched a pilot project for the New Rural Social Pension Insurance,over the past ten years,pension insurance has basically cover rural areas nationwide.Has the implementation of the the New Rural Social Pension Insurance system reduced the impact of the pension burden on rural households consumption?If so,how does the impact work?This paper carries out the research on the impact of the New Rural Social Pension Insurance on rural household consumption,analyzes the reasons for the New Rural Social Pension Insurance affecting rural residents' consumption expenditure,and solves the problems of the New Rural Social Pension Insurance system in a targeted manner,which will help to improve consumer consumption expectations and achieve the goal of high quality development.Under the guidance of absolute income hypothesis theory,life cycle theory and preventive savings theory,this paper constructs the logical framework of the impact of the New Rural Social Pension Insurance on rural household consumption,based on the 2011 and 2013 household survey data of the China Health and Retirement Longitudinal Study(CHARLS),this paper establishes a quantitative analysis model of the data of 3013 households in two years.Under the condition of controlling the total household income,per capital wealth holdings and some family characteristics,such as the number of family members,the proportion of the population receiving junior high school education,and the average age of the respondents and their spouses,this paper also analyzes the impact of participating in the New Rural Social Pension Insurance on the total rural household consumption expenditure and the different levels of expenditures.The empirical results show that after participating in the New Rural Social Pension Insurance,in total volume of consumption,the consumption expenditure of rural households has increased by 11.87%,the New Rural Social Pension Insurance has different effects on the consumption expenditure of different levels of rural households.For daily consumption of clothing,utilities,fuel,etc.participating in the New Rural Social Pension Insurance can increase the daily consumption expenditure of rural households by 5.48%,for high-level consumption such as transportation and communication,education and training,medical care,culture and entertainment,and durable goods,participating in the New Rural Social Pension Insurance can increase the consumption expenditure of rural households by 30.75%.The research results show that participation in the New Rural Social Pension Insurance,an alleviate the burden of rural households to a certain extent,promote rural household consumption expenditure and improve the consumption structure of rural residents.In order to achieve high-quality development and improve the consumption structure of rural residents,the government should increase financial support,appropriately improve the protection level of the New Rural Social Pension Insurance basic pension,and encourage more family members to join in it by increasing policy propaganda,thus increasing the participation rate of rural family members.At the same time,local governments should increase investment in rural education,improve the "three-in-one"public employment service system of vocational training,employment services,and labor rights protection,and effectively expand the employment channels for rural residents to increase their incomes.