Collective pension contracts can generate advantages for their participants by implementing forms of risk sharing. To ensure the continuity of a collective scheme, it has to be monitored whether the contracts offered to participants are financially fair in terms of market value. In this paper, Torsten Kleinow (Heriot-Watt University) and Hans Schumacher (TiU) use a stylized overlapping generations model to study financial fairness for a conditional indexation scheme.