Abstract: The traditional large-scale agricultural resettlement model for migrants has become increasingly unable to ensure the long-term livelihoods of water conservancy project migrants due to employment transformation, land resource constraints, and other factors. The migrant pension insurance resettlement model has become an important option to address this issue. Drawing on theoretical frameworks including Maslow's Hierarchy of Needs, the Life Cycle Hypothesis, and the Sustainable Livelihoods Framework, and integrating policy requirements with practical needs, this study clarifies the core essence of pension insurance resettlement for migrants. Using the Yongning Reservoir in Zhuji, Zhejiang, and the and the Taihu Basin Water Environment Comprehensive Management Project in Jiangsu. This approach demonstrates its feasibility and unique advantages in overcoming traditional resettlement challenges and safeguarding migrants' livelihoods. It constructs a whole-process practical path system and proposes targeted policy recommendations such as strengthening top-level policy design, improving funding mechanisms, and enhancing institutional coordination. These insights provide theoretical support and practical references for refining the resettlement system for water conservancy project migrants and ensuring their long-term livelihoods.