本文利用1999年家庭收支調查分析政府老人津貼方案的成本與 效益。結果顯示，目前的社會福利制度以幫助貧窮的老人爲主，對 老人貧窮的降低有明顯的效果。模擬分析顯示，政府的老人津貼方案 以中產階級的老人爲主，對老人貧窮的改善沒有明顯的絮助。本文 亦模擬其他替代方案的成本與效益，包括全民式與資產調查式的老人 津貼。

Using the 1999 Family Income and Expenditure Survey, this paper empirically examines the cost and effectiveness of the current transfer system, as well as the government elder allowance proposal and other policy options (including universal and means-tested programs), in reducing the poverty among the elderly. The findings indicate that the current transfer system, largely focusing on the poor elderly, could effectively reduce poverty rates and gaps. The results from simulations suggest that the elder allowance plan proposed by the current government is more likely to benefit the middle-class elderly, and, therefore, only slightly reduces the poverty rate and poverty gap compared to other policy options.