Population ageing is expected to fundamentally change the ability of welfare states to sustainably support an equitable distribution of risks and resources in society. Concerns have been raised about the growing power of older voters, who may receive an increasing share of redistributive commitments at the expense of younger age groups. In this chapter, we offer a way out of this dilemma of emerging generational conflict and show that a balanced approach to policymaking that benefits all citizens, regardless of age, is not necessarily a zero-sum game, but instead a socially sustainable path.