Older and Poorer?

Theories and common sense both suggest that elderly poverty is severe worldwide nowadays, including in US and elsewhere that had experienced poverty reduction in the second half of 20C with improving elderly social welfare. This is so even in Taiwan, a traditionally low-inequality society, where family supports is still crucial, though under change.
Other events work toward the opposite direction. First, the baby-boomers are now aging, with much larger wealth than their parents, and are better in self support. Moreover, new elders enjoy better social welfare in Taiwan, and Korea as well, with recent implementation of old-age pension, which is an important anti-poverty instrument: in Japan, pension reduces elderly poverty rate from 64% to 17% in 2010.
This paper asks whether these new developments in Taiwan, which many countries have experienced or will experience, make differences in elderly poverty. Beyond fact finding of who and how much, we go deeper and ask how do public and private transfers help to reduce poverty for the elderly.
We present an integrated framework to discuss elderly poverty and how public and private transfers reduce such poverty. In particular, we provide a method to estimate intrafamilial transfers that are not available by other methods.