Abstract: The connotation of common prosperity includes two key words of prosperity and sharing. The realization of common prosperity requires a unified and fair basic pension insurance system to protect the welfare and rights of social members. The study found that there were three equity obstacles in the current basic pension insurance in promoting common prosperity, namely, the lack of opportunity equity of the basic pension insurance, the lack of process equity in the basic pension insurance, and the outcome equity of the basic pension insurance needed to be improved urgently. Finally, it was proposed that the new journey in the new era required a deep understanding of the connotation of common prosperity, closely related to prosperity and sharing, and constantly optimized and improved the basic pension insurance system. The current focus was to increase the coverage to ensure the opportunities equity, optimize the design of the pension security system to promote the process equity, and narrow the gap in treatment and payment to improve the outcome equity.

Key words: common prosperity, basic pension insurance, opportunity equity, process equity, outcome equity