Inter-generational contract

Intergenerationality is interaction between members of different generations. Sociologists study many intergenerational issues, including equity, conflict, and mobility:

An intergenerational conflict is either a conflict situation between teenagers and adults or a more abstract conflict between two generations, which often involves all inclusive prejudices against another generation.

Intergenerational conflict also describes cultural, social, or economic discrepancies between generations, which may be caused by shifts in values or conflicts of interest between younger and older generations. An example are changes to an inter-generational contract that may be necessary to reflect a change in demographics. It is associated with the term "generation gap".

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.

Intergenerational cycle of abuse is violence that is passed from father or mother to son or daughter, parent to child, or sibling to sibling. It often refers to violent behavior learned as a child and then repeated as an adult, therefore continuing on in a perceived cycle.

Intergenerational equity, in the sociological and psychological context, is the concept or idea of fairness or justice in relationships between children, youth, adults and seniors, particularly in terms of treatment and interactions. It has been studied in environmental and sociological settings. In the context of institutional investment management, intergenerational equity is the principle that an endowed institution's spending rate must not exceed its after-inflation rate of compound return, so that investment gains are spent equally on current and future constituents of the endowed assets. This concept was originally set out in 1974 by economist James Tobin, who wrote that, "The trustees of endowed institutions are the guardians of the future against the claims of the present. Their task in managing the endowment is to preserve equity among generations."

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