This report examines how the two global mega-trends of population ageing and rising inequalities have been developing and interacting, both within and across generations. Taking a life-course perspective the report shows how inequalities in education, health, employment and earnings compound, resulting in large differences in lifetime earnings across different groups. It suggests a policy agenda to prevent, mitigate and cope with inequalities along the life course drawing on good practices in OECD countries and emerging economies.