Intergenerational relations are a part of each and every society. They have substantial effects on the lives of the old and young population. They are centered on sharing knowledge, cultural norms, traditions as well as mutual care, support and sharing of resources. Demographic transitions, changes in family structures, living arrangements and migration trends increasingly influence intergenerational relations nowadays globally. Globalization and migration have resulted in young people being cut off from their families because they tend to migrate for either education or job opportunities, therefore weakening family bonds and intergeneration relations.
Due to high life expectancy and decline in fertility, the world is now aging rapidly. The number of people over the age of 60 is expected to increase by 50% by the year 2050 in developed countries and triple in developing countries. Global life expectancy is expected to increase to 75 years old. The increase in life expectancy implies that adults may be able to share knowledge and resources with the younger generations over a longer period of time. This is why it is pivotal to create a new intergenerational contract that reflects on adjustments of an ageing society in terms of resource distribution and ensure equal future sharing of resources among youth and the elderly. By creating these kinds of contracts the society, especially the youth who tend to feel vulnerable will have confidence, trust and social capital that are important to social integration.
Relevant stakeholders are doing a lot to tackle this issue. Actions to strengthen family ties and reinforce intergenerational solidarity have been proposed over the years.