How to make social insurance funds of supporting the old to remain and rise in value is a hot research issue for both academic and practical experts.lt has great effects on safe operation and development of social insurance of surpporting the old, and on the stability of a society. This paper analyzes the operation models of the current social insurance funds and argues that single investment means does not have the sufficient ability to avoid the risks of interest rate and resist inflation. The author suggests that we should study the successful experiences from other countries for reference, gradually build up and expend investment ways.Choosing poly-investments is necessary.