Based on the theory of the pension insurance and combined with the China’s actual situation，the paper built a regional computable general equilibrium model to simulate and analyze the relevant policies of pension insurance in Beijing City. The results showed that：with the total income of pension insurance remained unchanged，the adjustment and optimization of its structure is conducive to economic development；From the perspective of income，the adjustment of the pension insurance fee’s share of residents，enterprises and governments from 1∶1∶1 to 1∶1∶2 is more conducive to income and social welfare. While keeping the government’s subsides to the H1 residents and residents pension insurance payment unchanged，reducing government’s subsidies to H1 residents and adding this part of the funds to the residents pension insurance payment is more favorable to solve the problem of aging population.