TITLE:
The Perfection of Financial Subsidies for Urban and Rural Basic Endowment Insurance: Based on Research in Guangdong Province
AUTHORS:
Yini Chen
KEYWORDS:
Urban and Rural Basic Endowment Insurance, Fiscal Subsidies, An Appropriate Level of Pensio
JOURNAL NAME:
Modern Economy,
Vol.11 No.1,
January
17,
2020
ABSTRACT: The social security relies on public finance.
However, the benefits of urban and rural basic endowment insurance in China have been at a low level since the establishment in 2014. This
article explores the possibility of improving pension based on the view of public finance. By
analyzing the status and fiscal subsidy policies of urban and rural basic
endowment insurance in Guangdong province, the passage found that the fund
supported endowment insurance for public finance was not a burden. Then, the
ELES was used in the essay to estimate an appropriate level of pension based on
the needs of the elderly and funding required could be afforded by public
finance. Finally, it proposes some ways to optimize financial subsidies.