Abstract: The design of individual account payment period of the New Rural Old-age Insurance System can affect the rights and interests of rural residents. This study establishes a calculation model for the individual account payment period of the New Rural Old-age Insurance System, the results of the study indicate that the statutory individual account payment period is not reasonable. The adjustment of individual account payment period can be done by following the principle of individual account payment period consistent with average life expectancy; and such a way of adjustment should be taken that different individual account payment period should be designed according to gender differences.

Key words: the New Rural Old-age Insurance System; individual account; payment period; average life expectancy