The persistent expansion of social welfare expenditures and the forthcoming national pension system in Taiwan have sparked public concerns and heated discussions as to whether both will result in heavier fiscal burden on future generations? However, specific and clear assessments are still lack so far. By employing the Generational Accounting approach, this paper attempts to assess the effects of both the current social welfare expenditures and the future national pension system on the intergenerational fiscal burden. The results reveal that current government fiscal policies in Taiwan definitely will result in intergenerational fiscal burden imbalance. Policy simulations indicate that current social welfare policies are surely one of sources that result in the intergenerational fiscal burden imbalance. The implementation of national pension system could improve the degree of intergenerational fiscal burden imbalance. Furthermore, based on the viewpoint of balancing intergenerational fiscal burden, the proposed national-pension-saving- insurance alternative, among others, seems to be the best choice for the future national pension system.