first, the historical review of the endowment insurance for urban and rural residents. The endowment insurance for urban and rural residents in China began with the new rural social endowment insurance (referred to as the new rural social endowment insurance). On June 1, 29, the new rural insurance began to be piloted. On June 11, 211, the urban residents' endowment insurance (referred to as urban residential insurance) began to be piloted. On June 1th, 214, the old-age insurance for urban residents and the new rural social old-age insurance were merged and renamed as the old-age insurance for urban and rural residents. Therefore, the old-age insurance for urban and rural residents has been established and operated for a short time, and there is a lot of room for development with a long way to go. Urban and rural residents' pension insurance is aimed at residents with local urban or rural household registration who are not covered by employee pension insurance. When the insured person reaches the age of 6 and has paid for 15 years, he can go through the formalities and receive a monthly pension for life. The pension benefits for urban and rural residents consist of two parts. Pension for urban and rural residents = basic pension+personal account pension The level of basic pension benefits is not uniform throughout the country, with regional differences and regional autonomy. As long as it is not lower than the minimum standard of monthly basic pension, all localities can formulate relevant standards on their own according to local actual conditions. Personal account pension = accumulated storage amount (including principal and interest) /139 in personal account of endowment insurance. The accumulated storage amount in personal account of endowment insurance consists of all contributions and subsidies of the insured over the years, and in some areas, it also includes collective sponsorship and social sponsorship. Different regions have different subsidy standards. Second, the historical review of the adjustment of the minimum basic pension standard for urban and rural residents At first, the minimum monthly basic pension standard for urban and rural residents in all parts of China was only 5 yuan/month. In 212, 215, 218 and 222, it was adjusted to 55 yuan/month, 7 yuan/month, 88 yuan/month and 93 yuan/month respectively. It is worth noting that on June 11, 218, the frequency of basic pension adjustment for urban and rural residents accelerated, and the basic pension in more and more areas began to tilt towards the elderly and the elderly with long payment years, opening a new era of pension adjustment for urban and rural residents. III. Adjustment Mechanism of Basic Pension for Urban and Rural Residents At present, the total number of pensioners in China is nearly 3 million, accounting for about 21% of the national population. Among them, the number of urban retired workers receiving pensions is about billion, and the number of urban and rural residents receiving pensions is about billion. In the future, urban and rural residents' pensions have great adjustment needs and space. However, in the short term, it is not objective to greatly improve the pension benefits of urban and rural residents and narrow the gap with urban workers' pensions, and there are practical problems of being willing but unable. To solve the fundamental problems, we need to take multiple measures simultaneously. For example, gradually raise the payment level appropriately, optimize the pension treatment structure, speed up the entrustment of urban housing insurance fund, establish a more effective incentive mechanism for overpaying and overpaying, and adjust the frequency to synchronize with employee pensions, but everything needs some time and real money, so we should take it slowly.