Based on the panel data of 31 provinces (regions and cities), the efficiency and impact factors of Chinese Basic Endowment Insurance Fund for the Urban Working Group are analyzed with DEA-Malmquist and Tobit models. The results show that 28 provinces (regions and cities) failed to realize DEA effectiveness in 2017, among which both the pure technical efficiency in 12 provinces and regions and the scale efficiency of non-DEA effective areas are less than 1,with 19 provinces (regions and municipalities) at the stage of decreasing returns to scale. 7 regions with positive factor productivity bene...