An Analysis On New Type Of Social Security For The Rural Elderly In China

China is a developing country which people in the countryside take absolute majority. The aging population peak comes so fast even faster than the increase rate of economics. Therefore, the pressure of rural aging population is becoming more serious. The 17th communist party of China's National people's congress raised a target that we'll build up an social security system which will covers all the residents living both in city and rural by year 2010.We'll try to make every resident to enjoy the benefit of social security. The rural aging population not only have relationship with the daily life of rural residents, but also impact economics,stability and the progress of society of our whole country. Thus, we should take it as first priority to speed up building new type of social old-age pension system.It has become a common understanding that Agriculture, Famer and Rural deserves more attention. Currently, the condition of political, economics and society has become more and more mature to build up social old-age pension system. If we want to make our target to come truth earlier, the most important thing is designing a system that according with the real condition of our society. After almost 20 years' exploring, the conference of a pilot project of new old-age social pension system convened in Aug 18th,2009.And on Sep 1st,2010, been issued. It is a signal that we come an new stage of social security.According to the, we set up a new model of old-age social pension system which connects basic pension and individual account, connects individual payment, group allowance and government allowance. And the pilot project also has been carried our in the whole country side. The establishment of the pilot project of new old- age social pension system indicated that the establishment of new old-age social pension system for rural residents.This article studies systematically the rural old-age pension system in terms of system innovation. It analyses the payment level in the future in terms of Actuarial science. It analyses the capability of Central Government, Local Government and the company on paying allowance for old-age social pension system. And finally, this article put forward some suggestion on improving the new old-age social pension system.