A swimming pool liner retainer system is shown which includes a holding assembly and a liner bead. The holding assembly is located around the peripheral edge portion of the pool, and the liner bead is formed on the peripheral portion of the swimming pool liner. The holding assembly includes an elongated member defining first and second U-shaped channels. The first channel is adapted to accomodate the liner bead and has a longitudinal extended portion. The second channel is located adjacent to the first channel so that the opening of the second channel faces said extended portion. A sliding insert retractably projects from the second channel and is biased toward said extended portion, so that the insert retracts to allow the liner bead to enter the first channel and then projects toward said extended portion to securely hold the bead in position.