Based on the reasonable estimation of labor growth rate, population growth rate, interest rate, survival rate of present time and in the coming 35 years, the paper evaluates and analyses the designed substitution rate of basic endowment insurance system.The research shows that the current system has decreased the substitution rate of those income groups whose payment period is short.Due to its aim of maximizing operational efficiency, the system decreases its social equity degree, and the potential of the system has not been fully exploited, some improvement can still be made.Though the real level of guarantee provided to retired staff by this system is not high, has not reached the planned standard, it reserves much room for promotion in future.
