One of the perks of being an academic is that the conferences take place in some of the most notorious places around the world. This time, Paul Cezanne's residence, visited by all the impressionists for its especially warm, light -- a place known for its exquisite history, architecture and ... ambiance, what can you say more. To be honest, we did almost 20 hours of pure conference time over just two days, with great keynotes from Alan Auerbach, Marie-Claire Villeval and Stefanie Stancheva and five paper sessions of up to ten parallel topics each. But even as those conference days are so intensive, it is an incredible privilege, when they are intensive in those incredible places around the world.

Now, as to the merits. Paper, which we presented, describes why even fully rational voters would like to abolish funded part of a pension system. In a nutshell, voters love (immediate) reduction of taxation so much. Results remain the same even if voters really care about the future and government try to its best to reduce debt  rather than taxes.