Intergenerational contract

From Wikipedia, the free encyclopedia
Jump to: navigation, search

An intergenerational contract is an agreement between different generations. It assumes that future generations will honor the contract and provide a service to a generation that has done the same service for an older generation.

The most common use of the term is in social security and refers to the consensus to provide pensions 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 enters the agreement without consent.