This paper presents a set of generational for Australia, following the approach developed in the U. S. by Auerbach, Gokhale and Kotlikoff. In Contrast to the Auerbachet al., results for the U. S., the generational accounts presented here do not imply that a disproportionately high fiscal burden will have to be borne by future generations in Australia. In the paper, generational accounts are used to estimate intergenerational redistribution related to policy changes in the area of public retirement pensions.