Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022)

The Impact of Chinese Public Pension on Family Pension

Authors
Yi Zhang1, *, Yue Yang2
1China Securities Co., Ltd
2Central University of Finance and Economics
*Corresponding author. Email: yizhangg@hotmail.com
Corresponding Author
Yi Zhang
Available Online 26 March 2022.
DOI
https://doi.org/10.2991/aebmr.k.220307.393How to use a DOI?
Keywords
Public pension; Family support; Crowding out; Fuzzy regression discontinuity
Abstract

Based on the China Health and Retirement Longitudinal Study (CHARLS) survey data of 2015, this paper analyzes the impact of public pension on family support from the perspective of the urban-rural difference by applying fuzzy regression discontinuity design. Wherein, family support is divided into three dimensions including financial support, emotional support and daily care support. Compared with previous literature, the paper solves the problems of missing data and threats to internal validity better, which widely exist in the evaluation of public policy. The empirical results show that public pension weakens family support, and heterogeneity exists between countryside and city. The arrival of pension benefits decreases the amount of financial support by around 62.82 to 93.27% for the rural elders while it reduces the frequency of meeting children by 24 times. Besides, the decrease of financial support for the rural elderly residents living alone is nearly 10% higher than the elderly persons living with children. The elderly persons alone are more likely to receive less emotional support from their children. And the elders living with children are more likely to receive less daily care support. As for the urban elders, the public pension has no influence on their family support. Emotional support and daily care support can only work in the family, so family support is irreplaceable in both rural and urban areas. While a public pension is developed greatly, a concordant and complementary relationship between the two eldercare patterns should be built as soon as possible. Only in this way, can we truly deal with the heavy pressure of the old-age dependency rate (ODR).

Copyright
© 2022 The Authors. Published by Atlantis Press International B.V.
Open Access
This is an open access article under the CC BY-NC license.

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Volume Title
Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
26 March 2022
ISBN
978-94-6239-554-1
ISSN
2352-5428
DOI
https://doi.org/10.2991/aebmr.k.220307.393How to use a DOI?
Copyright
© 2022 The Authors. Published by Atlantis Press International B.V.
Open Access
This is an open access article under the CC BY-NC license.

Cite this article

TY  - CONF
AU  - Yi Zhang
AU  - Yue Yang
PY  - 2022
DA  - 2022/03/26
TI  - The Impact of Chinese Public Pension on Family Pension
BT  - Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022)
PB  - Atlantis Press
SP  - 2401
EP  - 2409
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.220307.393
DO  - https://doi.org/10.2991/aebmr.k.220307.393
ID  - Zhang2022
ER  -