| The aging population has become a grave concern,due to the persistent decrease in fertility rate and the continual enhancement of life expectancy.and the burden of social pension is increasingly heavy.Attention to the elderly care of both city and rural inhabitants has grown exponentially.In 2014,The State Council amalgamated the pilot outcomes of the "new rural social endowment insurance" and the "urban endowment insurance" for urban inhabitants,forming a national unified basic endowment insurance system for both rural and urban inhabitants.We shall offer old-age insurance to all elderly people in a more comprehensive and equitable way.Since the introduction of basic urban and rural insurance,remarkable achievements have been achieved.On the one hand,the elderly can enjoy the old-age service with ease,thus realizing the goal of providing for the elderly;On the other hand,it also promotes social harmony and stability to a certain extent.The Ministry of Human Resources and Social Security’s data demonstrate that China has the most extensive basic endowment insurance for both urban and rural inhabitants.However,due to low payment levels,the insurance system has failed to give full play to its greatest advantages,hindering its development.With the continuous development of economy,the willingness of urban and rural residents to participate in insurance becomes more and more important.Therefore,how to effectively improve their own pension situation,how to promote residents to choose a higher level of payment,to provide adequate security for the elderly,has become a concern of the current state and society.Therefore,based on the data of China Household Finance Survey(CHFS)in 2015,The ordered probit regression model is employed in this study to delve deeply into the effect of traditional family ideas,such as "raising children for the elderly",the selection of fundamental endowment insurance contributions for both urban and rural inhabitants is essential,and to propose corresponding countermeasures in conjunction with the actual circumstances.Our backing for the creation of a rudimentary old-age insurance system for both urban and rural citizens will be unwavering.First,the article defines the other related concepts,analyzes the current situation,and lays a theoretical foundation for the follow-up empirical research.Secondly,with the help of stata software,the ordered probit(order probit)model is constructed.Empirical analysis was made on the effects of health status,Communist Party membership,risk attitude,policy trust,cognitive ability,total family income,total family assets(logarithm),membership of the hard-to-pay group,purchase of medical insurance,and per capita GDP(logarithm)of the province where the traditional family concept is located on the selection of residents’ contribution level.The mediating role of financial knowledge between traditional family concept and an exploration of basic endowment insurance for both city and rural inhabitants is also conducted.At the same time,Heckoprobit model was constructed to correct the sample selection bias,and Conditional Mixed Process(abbreviated as CMP)estimation method and instrumental variable method were used to overcome the endogenous problems of traditional family concept effectively.The paper culminates in a synopsis of the research findings and proffers countermeasures and proposals to enhance the remuneration of the inhabitants.The empirical study found that:(1)the traditional family concept has a significant negative impact on the willingness of urban and rural residents to improve the level of payment at the statistical level of 1%.(2)The research using KHB method shows that financial knowledge plays an intermediary role between the traditional family concept and the choice of payment grade.The traditional family concept will weaken residents’ attention to financial information,reduce their financial knowledge level,and inhibit residents from choosing a higher payment level.(3)The inhibitory effect of traditional family concept on the payment grade is more obvious in the middle and old age group and the low education group.In view of the above conclusions,this paper puts forward fitting proposals from the perspective of the people,government and policy formulation.First of all,the government departments should plan to carry out a series of insurance knowledge publicity activities,gradually change the mainstream concept of "raising children and preventing aging",and establish a new concept of old-age care.At the same time,we can carry out financial knowledge popularization education for college students and the people,cultivate students and the people to form good financial literacy and improve residents’ financial knowledge level.Secondly,the government should enhance the education level of residents and increase their income.Finally,local governm-ents should be encouraged to improve the basic pension level of residents,and eligible participants should be encouraged to choose a higher level of payment.A fresh outlook on the elements that affect the payment grade of basic endowment insurance for both city and country dwellers is presented in this paper,and has certain reference significance for the improvement and development of the social endowment insurance system. |
