As the aging deepening,the new rural social endowment insurance is facing the huge pressure of payment because of longevity risk.The main research object of this paper is the asset allocation strategy of new rural social endowment insurance individual account fund,what should be taken to make it in guarantee under the premise of safety and liquidity,to achieve good investment returns and in order to ensure the new rural social endowment insurance long-term supply.Based on the study,the problem need to be resolved is which investment products to? In what proportion of constructing portfolio? How to operate management in order to realize the effectiveness of the asset allocation? The results show that: the new rural endowment insurance personal account funds should take effective asset allocation strategy to make a good return on investment made in ensuring the safety and liquidity of the premise,to ensure the supply of new rural endowment insurance system.The ratio of Fixed income asset allocation should be between 20.0% -64.0%,the ratio of liquidity asset allocation should be between 10.0% -47.5%,the ratio of high-yield asset allocation between 1.0% to 30% is appropriate; according to the principle of operation and separated supervision,on the basis of the provincial plan as a whole,to build national unity of the new rural social endowment insurance individual account fund supervision and administration institution,guarantee the effectiveness of the fund operation and compliance.