This paper first analyzes the impact of the old-age security system on the working time of the rural elderly. Using the China’s Health and Retirement Survey（CHARLS）2011 data，this paper systematically analyzes the influence of “new farmer’s insurance” on the agricultural labor time and non-agricultural labor time in rural areas. On this basis，Using the Propensity Score Matching to do a robustness test and calculate the average treatment effect of the treatment group（participating in the new agricultural insurance）and the control group（not participating in the new agricultural insurance）. Our results show that：（1）The implementation of the new agricultural insurance will make the average rural labor time in rural areas reduced by 11.8 days，but no significant impact on non-agricultural labor time；（2）The implementation of the new agricultural insurance has a greater impact on older men，the agricultural labor time than the elderly women more than 6.1 days，but older men and older women non-agricultural labor time are not affected；（3）The impact of the new agricultural insurance on the labor time of the aged 60-69 years old is relatively large and the impact on the elderly aged 70 years and older is relatively small；there is no significant effect on the non-farm labor time of the aged 60-69 years old，but would significantly reduce the non-farm labor time of the elderly aged 70 years and older.