Research On The Influence Of Endowment Insurance On Farmers’ Subjective Well-being

Over the past 40 years of reform and opening up,China’s economic development has achieved obvious results,and at the same time,the per capita national income level has also continued to rise,from 385 yuan in 1978 to 80,237 yuan in 2021,China has leapt to the world’s second largest economy,and the people’s material living standards have been greatly improved.Behind the rapid economic development,accompanied by a series of social problems such as changes in China’s social structure and the widening income gap between urban and rural residents,various potential contradictions have gradually emerged,people’s happiness has not improved with economic development,and China seems to have fallen into "happiness stagnation".With the outbreak of the global financial crisis in 2008,countries around the world have deeply rethought the economic development model,and the previous "GDP-only" economic development model has been widely questioned,because this model may have the disadvantage of amplifying social risks,so some scholars have proposed that national happiness can be used as an indicator to measure the level of social and economic performance.The report of the 20 th National Congress of the Communist Party of China pointed out that by 2035,one of the overall goals of China’s development is to make the people’s lives happier and better,which not only reflects the people-oriented development concept of the Chinese government,but also a powerful response to the party’s original intention of "seeking happiness for the people".Endowment insurance is an important social security measure in China,which can not only provide residents with a stable economic security when they are old,but also play an important role in promoting social fairness as an important redistribution system.Some scholars pointed out that the social security system can reduce the degree of inequality among members of society,thereby promoting social trust,enhancing social cohesion,and improving the happiness level of residents.However,at present,the academic community has not reached a consistent conclusion on the impact of basic endowment insurance on happiness,and the research on the happiness effect of commercial endowment insurance is even more lacking,and there are not many studies on the logical relationship of "endowment insurance-happiness",and there is still room for further research on related issues.This not only leads the author to think,what is the impact of pension insurance on happiness? Does "social trust" play a role in the relationship between "pension insurance-happiness" ? The answer to the above question can not only reasonably evaluate the policy effect of China’s pension insurance system,but also provide a feasible path for improving the happiness index of the people.Based on this,in order to explore the logical relationship between pension insurance and farmers’ happiness and its mechanism,this paper takes the sample of farmers in the 2018 China Comprehensive Social Survey data as the research object,and uses relevant empirical analysis methods to study this problem.The research conclusion mainly has the following three points:(1)Participating in endowment insurance can significantly improve the happiness of farmers,and the higher the level of old-age security,the higher the level of happiness.(2)Social trust is an important channel for endowment insurance to affect farmers’ happiness,that is,endowment insurance further affects farmers’ happiness through social trust.(3)There are differences in the impact of endowment insurance on the happiness of farmers with different characteristics.Through heterogeneity analysis,pension insurance can bring higher happiness expectations to non-elderly groups and lowand middle-income groups,and the happiness improvement effect on such groups is more obvious.Based on the above conclusions,this paper puts forward several suggestions such as expanding the coverage of basic endowment insurance,strengthening policy support for the development of commercial endowment insurance,building a service-oriented government,and striving to cultivate social trust.The research conclusions of this paper are useful supplements to previous research,and this paper also provides useful references for consolidating and improving China’s pension insurance system and improving national happiness.