The Impact Of Pension On The Income Gap Of Residents

Since the reform and opening up 40 years ago,China's economy has achieved leap-forward development.By 2017,China's per capita GDP has reached 8,827 US dollars,and it has become a middle-income income country.However,while achieving rapid economic development,the problem of the continued widening income gap among Chinese residents has become a major challenge that needs to be resolved in China's social development.International experience shows that the main reason for the improvement of income distribution among residents in developed countries lies in the government's redistribution policy.Social security expenditure is the most important force for the government to improve the income distribution of residents.In addition,China's population aging phenomenon is becoming more and more serious.As an important part of China's social security system,the pension system plays an important role in safeguarding the quality of life of the elderly and is an important means of redistributing the income of the Chinese government.However,the current role of China's social security system in regulating income distribution is relatively limited.In order to better play the role of China's pension income distribution adjustment,this paper uses the 2014 and 2016 China Family Tracking Survey Data(CFPS)to analyze the current situation of China's residents' pension security and finds that the middle-aged population of low-income groups is relatively high.In particular,low-income groups in rural areas;pension coverage in low-income groups is also lower than that in middle-and high-income groups;in addition,the analysis of pensions received by residents shows that the pension benefits of different income groups are very different.Among them,the average pension of the highest income group of urban income is 3019 yuan per person per month,and the lowest group of rural income is 189 yuan per person per month,the difference between the two is 16 times.Secondly,using the PSM model for empirical analysis,it is found that the impact of pensions on different income groups is different,with 9.21% for low-income groups and 18.32% for middle-income groups,and the impact on high-income groups is not significant..Finally,the paper analyzes and analyzes the policy effects of various methods such as full coverage of pensions for low-income seniors,unified pension benefits and step-by-step pension benefits.Comparing the redistribution effect of the above several methods with the increase of the total pension expenditure,it is found that using the step-by-step adjustment of pension expenditure on the basis of full coverage can maximize the improvement under the total pension subsidy.Distribution effect.According to the analysis results of this paper,in order to better play the role of China's pension insurance system for the living security of low-income elderly groups and regulate income distribution,the policy recommendations of this paper are as follows: improve the pension coverage of low-income groups and increase low income.The pension subsidy of the group.