Based on the policy integrated assessment model, this paper constructs the theoretical models of New Rural Social Endowment Insurance policy efficiency and its influencing factors from three view angles of policy formulation, implementation and result, and puts forward the research hypotheses. Based on the questionnaire survey data of basic level government staff and peasants in the pilots in Xi'an City of Shaanxi Province using stratified cluster random sampling method, the paper analyzes their internal quantitative relationships and influencing mechanism with Structure Equation Model. The research results show that the key influencing factors of New Rural Social Endowment Insurance policy efficiency are land support, treatment level, government support and agency service, but the participation expectation factor cannot pass the significant testing. Finally the paper puts forward some suggestions: giving full pay to the role of land on support, adjusting the peasants' treatment level properly, increasing government support, enhancing agency service ability and guiding the peasants' participation expectation correctly in order to ease the peasants' pension pressure, and maximize the New Rural Social Endowment Insurance policy efficiency.
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