“…This means that state policies change, economic up‐ and downturns affect the possibilities that individuals have in relation to education and employment, and large structural changes such as modernisation, industrialisation and globalisation have created pressures for change in generational contracts. Additionally, the interconnectedness of formal and informal generational contracts comes to the fore as social policies not only steer the use of public resources between generations, but they also create various incentives and shape the norms related to, for example, care for children and older adults (Manor, 2018; Raja, 2009; Waite, 1995), education (Gu, 2022; Yuen, 2007; Zheng et al, 2019), retirement saving and inheritance (Chan et al, 2020; Izuhara, 2002; Kochar, 2014; Manzo et al, 2019), and marriage (Mishra & Kaur, 2021). Consequently, what is seen as a legitimate generational contract now, might not be and probably will not be the same in, for example, 50 years.…”