“New rural old-age insurance” is another major preferential agriculture policy adopted by Chinese government after the abolition of agricultural tax，introduction of direct agricultural subsidy，and establishment of new rural cooperative medical service system. The basic principles of this policy include guaranteeing the basic living standard，ensuring broad coverage，and being flexible and sustainable. The main method of implementation is the combination of contribution by the individuals，allowance from the collective and subsidies by the state. The old-age pension of farmers includes accumulation in the individual account and the financial subsidies from governments at various levels. Since this policy is still at the trial stage，many problems remain to be solved，such as lack of a unified system，low coverage，low level of insurance，lack of reciprocity and fairness，and mismanagement. Therefore，the government should strengthen the relevant legislation，increase financial input so as to gradually separate the old-age care in rural areas from the family and the land，and ultimately establish a unified old-age insurance system in the country.