Study On The Regional Differences Of Urban Employees’ Basic Pension Insurance Funds And Their Influencing Mechanism

After decades of exploration,reform and development,the urban employee basic pension insurance system has achieved tremendous results.Overall,the system coverage has basically reached full coverage,and the fund income has also reached a relatively large scale.Due to the influence of many factors such as economy,population structure,and natural resources,there is an unbalanced development of the basic pension insurance system for urban employees among 31 provinces(cities,districts)and the three major regions of the east,middle,and west.Since 2016,some provinces have witnessed the phenomenon that the basic pension insurance fund for urban employees has not been paid,and the accumulated fund balances of individual regions have bottomed out,and the gap is increasing.In the context of an absolute increase in the number of insured persons,and regardless of the expansion of the fund’s income scale,the income and expenditure situation still appears,which is contrary to common sense.Therefore,this article starts with the income,expenditure,and accumulated balance of the urban employee pension insurance fund.The purpose is to study the regional distribution and evolution of urban employee pension insurance fund differences between regions and within the region,to discuss the typical influencing factors of regional differences,and to analyze its impact mechanism and Path,and put forward countermeasures and suggestions to narrow the regional differences and ensure the smooth operation of the urban employee basic pension insurance system.The study found that:(1)There are large differences in fund income,expenditure and accumulated balance of 31 provinces(cities and districts).Among the three major regions,the fund income scale of the western region has great potential,and the average annual growth rate of the accumulated fund balance of the western region in the eleven years is the fastest among the three major regions.(2)The Theil index was used to calculate the regional differences in the basic pension insurance fund for urban employees.From 2008 to 2018,the overall differences in the three major regions showed a decreasing trend,and the differences within the group became the main source of regional differences.(3)The fund expenditure and income have spatial autocorrelation under the spatial adjacency weight and the anti-distance weight.The fund income and expenditure both show the distribution characteristics of low west and high east.Shanghai is concentrated in the east direction.(4)Using the spatial panel model to explore the influencing factors and influencing mechanisms of regional differences in the basic pension insurance for urban employees.The middle-aged dependency ratio and urbanization level of the population structure have a significant impact on the income of urban employee pension funds.Among the institutional factors,the fund contribution rate,system maintenance rate,fund replacement rate,and fundcoverage rate all have a positive and significant impact on fund income.(5)In the short term,increase financial subsidies and delay retirement policies to alleviate regional differences and ensure smooth calculation and issuance.In the long run,adhering to the national pooling of urban employee pension insurance funds,expanding the insurance base,broadening fund investment channels,and developing regional economies are effective means to resolve regional differences.