The combination of social pooling with individual account is a main feature of China’s endowment insurance system. In the past 20 years，although it has achieved great success in many aspects such as expanding coverage and improving the capacity of funds delivering，there has always been a gap between theory and practice. The gap shall be conveyed in three perspectives. To begin with，it is difficult to raise sufficient money in the short run；what’s more，the deepening of aging-population problem results in deficit in the long run；and the last is the low efficiency of endowment insurance system cooperating with China labor market change. From the very beginning of establishing social pooling with individual retirement account model，a continuous controversy on whether fully fund individual retirement account or not exists，while fully fund individual retirement account turns out to be unreasonable both in practice and theory. In order to solve the above problems，we learn from the experience about reform measures of other countries and come up to a conclusion that the nominal accounts system suits well with solving the problems of China aging-population endowment system. Therefore，China basic endowment insurance system reform asks for putting into practice the guidelines of the 3rd Plenary Session of the 18th Central Committee of the Communist Party of China，implementing the nominal accounts system reform，abandoning the accumulating function of the individual account，enlarging its scale，and strengthening its record function. Only by the above approaches can we perfect the individual system，improve its actuarial system，and make the basic endowment insurance system develop sustainably. <<