Presently, urban and rural social endowment insurance in China is derived from the "new agricultural insurance" and "City Habitat guarantee", which has realized full coverage, but still has some problems, such as low levels of pension, uneven regional development, lack of scientific growth mechanism, etc.. The key to solve these problems is to determine the appropriate pension benefit level and to take measures to adjust the level gradually. Based on life fair demand, for urban and rural social endowment insurance, the moderate benefit level should not be too high nor too low. The floor level is the Engel coefficient standard to meet the basic survival needs, and the ceiling is the necessities of life consumption level to meet the basic survival needs, which can be estimated by 60% of per capita net income of rural residents. This paper propose that the pension should be increased gradually, normal adjustment mechanism should be established, regional gap should be filled by setting a moderate level as the goal, multi-pillar endowment insurance system should be improved to advance the development of urban and rural social endowment insurance in healthy way.