Damien

With the state pension, you didn't pay into it but paid for the retirees then. This model is obviously unequal if the 'boomers' paid for a much smaller number of retirees than exists now.

But the real problem with generational inequality is housing. Housing is a much bigger expense for younger people now than it was 20/30 years ago and this is a huge driver of the economic insecurity younger people feel, more money goes on rent and fewer people can afford to buy. The average age of a homeowner keeps increasing. This also means younger people face a more uncertain retirement as they can afford to put less into private pension and they'll have fewer assets when they retire. Their assets are currently going to landlords.