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Accounting & Marketing

ISSN: 2168-9601

Open Access

Farmer′s Impact of the New Rural Pension Insurance

Abstract

S Sitesh*

Under specific resource constraints, individuals or households will pursue utility maximization and then realize the optimal allocation of labour supply and leisure time, according to the time allocation theory, assuming economic rationality. The NRPI makes it easier for households with elderly farmers to increase their farmers' AMS input in two ways. The first is based on the crowding-in effect of taking care of grandchildren. The majority of elderly people in China live with their children or others nearby, ensuring frequent interactions with them. They help by taking care of their grandchildren and farming on the land of their children when they go to work. Concerning intergenerational care, a significant number of Chinese grandparents are participating in the care of their grandchildren. A survey revealed that 6% of grandparents in South Korea participated in intergenerational care. In the meantime, it was as high as 58%. Elderly parents assume responsibility for their grandchildren's care. It's also worth noting that older farmers over 60 who participate in NRPI spend a lot more time taking care of their grandchildren. While participation in NRPI can help grandparents spend more time with their grandchildren, it also reduces the amount of time they spend working in agriculture.

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