The system of Chinese Pension insurance has already been set up, but because of shortage of fund resources which was accumulated before and some problems of pension fund system, within Chinese Government and the Public, there are a lot of worries about in future yeas whether Chinese Pension Fund could have enough payment capability or not. In regard to these concerns, the authors have set up an actuarial model of assets and liabilities about Chinese Pension Fund, make some forecasts and analyses on payment capability of Chinese Pension Fund, and also propose some policy suggestions.