The shift in the demographic structure of German society results in an ever smaller amount of workers having to support an ever increasing number of pensioners. For this reason, it is necessary to revisit the so-called »generational contract«. A review of the history of this generational contract, from the biblical commandment to respect your elders through the social laws under Bismarck on to Adenauer‘s reform of pensions shows that the flaw of the state pension plan resides in the fact that (...) the generational contract only governs the relations between those who are gainfully employed and those which are retired, without sufficiently takink into account children and the contribution made by families raising them. In this regard, it is only possible to ensure the long-term viability of the generational contract by correctly understanding the self-interest of all parties rather than by issuing calls for solidarity. (shrink)