The conference included a panel discussion during which we discussed achievements, failures and the future of pension system reforms in Poland and Germany. The main panelists were: Marek Góra, Warsaw School of Economics, co-author of the pension reform in Poland, Jeremi Mordasewicz, representative of The Polish Confederation of Private Employers at the ZUS Supervisory Board, Viktor Steiner, Freie Universität Berlin and DIW-Berlin. According to our plans Edward Whitehouse, pension specialist in the Social Policy division, OECD was supposed to be the fourth panelist. Unfortunately, he was unable to reach Warsaw, due to the protests against the pension reform, which took place in France at that time. This is a good example that pension reforms are important not only for specialists and politicians, but also for ordinary citizens. The debate was moderated by Michal Myck, CenEA and DIW-Berlin. The transcript was smoothed out by Grzegorz Kula in order to preserve a style of the debate but at the same time correct all the problems appearing when spoken language is written down.