China's aging problem is becoming increasingly serious, as it will not only lead to the reduction of the proportion of working population, but also becomes a challenge to the country's pension system. Now there are more people discontinuing old-age insurance, the accumulated surplus of pension funds continue to drain, which seriously affected the fund income, social insurance system and the sustainable development of China's pension insurance. If these problems are not resolved, the pension system will not be sufficient to support China's aging society, and might even cause pension crisis, resulting in the collapse of the pension system. Therefore, drawing lessons from the experience of foreign pension insurance system reform, the reform of the old-age insurance system in China is urgency.