Social security assets suffered enormous losses in the financial crisis，while the social security system in the world poses a major challenge. Chinese social security system and employment conditions in the financial crisis have shown the completely different characteristics. Face of the impact to China’s real economy in the financial crisis，the Chinese government launched the “New Deal social security”. “Social Security New Deal” has played a positive role to alleviate the plight of business，reduce the burden on enterprises and stable employment situation. However，the Chinese social security system also exposed a number of inherent institutional and structural problems even reveal functions and positioning problem in social security system. Therefore，the author proposes handle four major relationships and made 12 specific policy recommendations.