| In the context of China’s deepening ageing and the imbalance between rural and urban areas in terms of economic development,social welfare,and old-age security for residents,the central government has placed pension insurance nationwide and narrowed the gap between urban and rural income distribution.New rural social endowment insurance and urban resident social endowment insurance were combined into the basic pension insurance system for rural residents and non-working urban residents in 2014,and a nationwide unified resident pension system covering urban and rural residents was established.With the rapid development of the basic old-age insurance for urban and rural residents,this policy of benefiting the people directly affects the changes in pension benefits for urban and rural residents,and also affects the decision of labor supply of the middle-aged and elderly population in China,and whether it has a positive effect on alleviating the labor burden of urban and rural residents still needs further investigation.This article adopts a combination of theoretical and status analysis and empirical research.The research object is the middle-aged and elderly people who participate in the basic pension insurance system for urban and rural residents,and this article focuses on the impact of the policy on the labor supply of middle-aged and elderly people from the breadth and intensity of labor supply.At the same time,it also analyzes the difference in the impact of this pension insurance on the labor supply of middle-aged and elderly people in Agricultural Hukou and Non-agricultural Hukou,and then puts forward relevant suggestions for balancing the implementation of urban and rural pension insurance policies.In order to improve the diversified pension insurance system and reduce the economic burden on urban and rural elderly,for improving the quality of life of the elderly and establishing an old-age security system that is coordinated with the labor market have important practical significance.Among them,the empirical study adopted the Difference In Difference method(DID),and selected the national baseline surveys of China Health and Retirement Longitudinal Survey(CHARLS)in 2013 and 2015.The middle-aged and elderly people aged 45 and above who participated in the urban and rural residents’endowment insurance were taken as the research samples,and the samples were analyzed for heterogeneity according to Agricultural Hukou and Non-agricultural Hukou.The empirical results show that although the urban and rural residents’pension insurance policy has not significantly impacted the willingness of middle-aged and elderly people to participate in work,it has played a certain role in reducing the labor supply intensity of middle-aged and elderly people and enhancing social welfare,thereby reducing their economic pressure on the elderly.There are great differences between urban and rural areas in economic development,welfare benefits,labor patterns,and income.Therefore,the impact of this policy on the labor supply of middle-aged and elderly people in urban and rural areas is also significantly heterogeneous,and the effect on the labor supply of rural residents is more significant and significant.The willingness and working hours of rural residents to participate in work have been reduced,reflecting the gradual approach of rural social security to urban areas.According to the research results,this article suggests that while increasing the pension benefits of residents,pay attention to the problem of labor imbalances and maintain stable economic development;widen the investment channels of pension funds to meet the challenges of insufficient funds;and in rural areas with relatively backward economies,the government needs to give more external policies and resource support to ensure the universality of the system in different areas of urban and rural areas,and improve and balance the old-age security level in different areas to the greatest extent. |
