I contribute new evidence on altruistic preferences in intergenerational transfers using variation in Social Security benefits induced by an inflation-indexing mistake. The instrument is most relevant for those with low education, so I focus on this group. I find support for pure altruism...

I examine the relationship between Social Security benefits, a major component of income in older age, and intergenerational transfers of financial help and care-giving. I find that the net pass-through rate of Social Security benefits from parents to children is about 15 percent, including only...