Does the basic pension insurance for urban and rural residents improve residents’ sense of happiness? An investigation based on migrant labor forces

This study utilized data from 1044 questionnaire surveys to establish a positive correlation between the willingness to participate in insurance, the level of security services, and the sense of happiness of the transferred labor force regarding the basic old-age insurance system for urban and rural residents. Herein, the extent to which pensions meet living needs plays a certain mediating role.The results of the heterogeneity analysis indicate that transferred labor force groups with different levels of job stability and residence intentions are all positively influenced by factors such as family, society, and old-age insurance policies when assessing their sense of happiness with the basic old-age insurance system for urban and rural residents. Nevertheless, the differences are as follows: compared with the group with stable jobs and those with strong residence intentions, the group with unstable jobs shows a greater concern for the convenience of transferring and continuing the old-age insurance relationship and the protective function that the system can provide. Those with weak residence intentions place more emphasis on the family living standard, the harmony of family relationships, and the specific arrangements in the implementation of relevant policies.