The Third Plenary Session of the 18th CPC Central Committee has deployed new strategy for China’s social security reform，and set the aim of future development. In recent years，China has promoted reform on social security system，and made significant progress on the integration of the old-age pension system for both urban and rural residents. Supplementary security system received more attention and the capacity of social welfare service for the old-age support has been gradually established. Legal framework has improved the implementation of social assistance system，and government has taken more action on promoting government-sponsored welfare housing. However，admittedly，there are many issues and problems during the process of social security reform. The equality and efficiency of social security system has not reached its balance point，which calls for future reform plan. Therefore，it is important to combine equality and efficiency，and integrate government and market，through which the social security system will be improved to a new stage to realize social equality and sustainable development.