Inter-generational contract

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An inter-generational contract is a dependency between different generations based on the assumption that future generations, in honoring the contract, will provide a service to a generation that has previously done the same service to an older generation.

The most common use of the term is in statutory pension insurance provisions and refers to the consensus to provide pension for the retired generations through payments made by the working generations.

The use of the word contract is not entirely accurate as the next generation implicitly enters the agreement without consent.

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