Evaluation Of The Efficiency Of Basic Pension Insurance System Operation Of Urban And Rural Residents

The population ageing is the most serious challenge facing the pension insurance system in China in the next few decades.Compared with the employees of civil servants and enterprises and institutions,urban and rural residents are unstable vulnerable groups with less income.In order to deal with the pension risks caused by the growing population aging,and solve the security problems of urban and rural residents,our government has carried out a series of constructive work in the pension insurance system: in view of the rural and urban residents,new rural social endowment insurance system and the social endowment insurance system for urban residents have been set up and combined into an unified basic old-age insurance system for urban and rural residents in 2014.With the continuous expansion of the scale of income and expenditure of urban and rural living insurance fund and the size of the insured number,it is of great necessity to evaluate the efficiency of this system.This paper mainly studies the current situation;the calculation and evaluation of the operating efficiency,and the ways and policies of improving the operating efficiency in various regions from the perspective of efficiency of the basic old-age insurance system for urban and rural residents.This paper calculates the operating efficiency of the basic old-age insurance system of urban and rural residents cover 31 provinces,autonomous regions and municipalities from 2012 to 2016 by using three-stage DEA model.Also,we investigate the impact of six environmental variables(GDP growth rate,urbanization level,elderly dependency ratio,local fiscal expenditure level,time variable and institutional integration)on the efficiency of this system.The results reveal that on the whole,the efficiency level is relative high,while there is still room for improvement;based on the regression analysis of environmental variables,the level of urbanization and the level of local fiscal expenditure will significantly improve the efficiency of basic pension insurance system operation of urban and rural residents;from the regional perspective,the operating efficiency varies with different regions,exhibitinga pattern of the East region > the West region > the Central region.Therefore,this paper puts forward that every region should implement different policies to improve the operating efficiency of basic old-age insurance system for urban and rural residents,further optimize the level of fiscal expenditure,promote new urbanization and improve the standards of individual payment for urban and rural living insurance and the normal adjustment mechanism of basic pension according to their own conditions.