Making Money?

A serious change in the Polish retirement system is here to stay. Most of our pension contributions will stay in the Social Insurance Institution (ZUS) because the Ministry of Finance wants part of the contributions, which have so far been transferred to the Open Retirement Funds (OFE), to remain in special accounts in the ZUS. As much as PLN 13 billion annually is at stake here. The Ministry of Finance admits that the main aim of this move is to reduce the public deficit. How it will work? Currently, our pension contributions go to the Social Insurance Fund and from there part of the money is transferred to the Open Retirement Funds. Nevertheless, the Polish government wants to change it so that only 40% of the hitherto contributions are passed to the OFE and the remaining 60% of the PLN 22.5 billion of the annual contributions that has so far been remitted to the OFE would stay in the Social Insurance Institution in special accounts. This is the part that the Open Retirement Funds are currently obliged to invest in safe treasury bonds.

Why does the government wish to introduce this change? If this PLN 13 billion remains in the ZUS, the State Treasury will not have to issue bonds for this amount. This sum is equal to 1% of the GDP, whilst Poland has to reduce the public deficit to a level below 3% of the GDP by the end of 2012. Should pensioners worry about this change? Mr Rostowski, the Minister of Finance, reassures everyone that they do not have to be concerned. What is more, he claims that leaving the money in the ZUS will bring more profit because at present the OFE charge commission on this part of  the contribution. “The Open Retirement Funds collect premiums for this money as if it was not a 100% safe investment, but rather a risky market decision. It would be better if this money stay in the pockets of future pensioners,” says Mr Rostowski. According to the Ministry of Finance, profits can amount to as much as PLN 500 million annually and, what is more, the interest rate of the special account in the ZUS will be equal to one of the bonds. Representatives of the Open Retirement Funds have a different opinion and they are worried that if the government takes the money away from them, this may result in a change in the investment strategy into a more aggressive one, which in turn may lead to diminution in future pensions.
Dziennik

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Happy Bonfire Night

Great news for Newzar readers. fantastic news, in fact! Newzar can now be emailed directly to your inbox using Google Feedburner. Just click here to have the freshest news about Poland in English emailed directly to you for free.

All the very best and a wonderful Guy Fawkes Night to you all.

The Newzar Team

Falling Support?

“Lech Kaczyński will lose the presidential elections because he is unable to see his own flaws,” said a member of Law and Justice (PiS) on his blog. Maciej Eckardt is the vice-president of the Kuyavian-Pomeranian region, which makes the criticism even more serious. According to Eckardt, the current President has no chance for re-election because not only has he not gained new supporters, but has lost some of his electorate. He is “disgusted by the poor quality of the passing term of office which has been marked with decisions favouring his party as well as his pettiness, which is not appropriate for a head of state.” Eckardt scrupulously enumerates all the mistakes made by Lech Kaczyński. “Lech Kaczyński will lose because the tough sheriff of Warsaw is gone, disappeared 4 years ago. He will lose because there is nothing that will remain after his 5 years in office.

“The vice-president, nominated by Law and Justice, draws attention to the similarity between Lech Kaczyński and Lech Wałęsa who also lost the fight for re-election. “Both of them did not develop the proper language for communicating in the modern world. Both were stuck in personal quarrels and childish grudges. Both could not distance themselves from politically-oriented disputes, letting themselves be dragged into them, which was a lost cause as the position of the President in the Polish constitutional circumstances is nothing but poor.” Eckardt’s tone becomes even sharper as he continues: “Lech Kaczyński is not my candidate. I am disappointed with his work.” He goes on to explain and enumertae the President’s numerous flaws. “The grotesque dependence of signing the Lisbon Treaty on the results of the Irish referendum, insignificant fights over insignificant issues, an over-active pro-American stance, little intellectual integrity and an incoherent message of his intentions.” Eckardt also points out Kaczyński’s alliance with the President of Georgia Mikheil Saakashvili, who he calls a satrap. Eckardt’s colleagues from Law and Justice are furious and believe such behaviour is scandalous. Eckardt sees no reason for this outrage and claims that he has just explained his reasons for not voting for Lech Kaczyński and adds that if somebody does not like his comments, it is a pity – “we live in democracy”.
Dziennik

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Polish Tradition?

Ghosts, vampires and skeletons were having fun all over the city. A few years ago Halloween evoked extreme opinions – the advocates of the Polish tradition perceived it as profanation of All Saints Day. Today it is popular and night parties do not interfere with celebrating the Polish tradition. “These two holidays do not rule out each other,” says Filip, an artist who went to a Saturday party in Warsaw. Halloween costumes were not obligatory but those who dressed up, got a discount at the entrance. Although it is cheap to buy a werewolf mask, Joanna prepared her own zombie make-up, which took her two hours to make. Some people decided not to dress up. “I have a great Halloween Red Riding Hood costume, but I did not put it on tonight. I thought that not many people would be dressed up,” said Bianca from London, whose eye was bleeding. The next day, those same club-goers went to visit cemeteries in their casual clothes. “I do not have any family members buried in Warsaw, but I want to visit my favourite writer’s grave. I do it every year,” says Jacek Meler, who also partied on Saturday. Warsaw citizens treat Halloween as a fancy-dress ball. However, the trick-or-treat tradition has not caught on in Poland. American children walk around their neighbourhoods collecting sweets; Polish children stay in bed. “I did not prepare any sweets and nobody knocked at my door anyway,” says Helena. “My children and I celebrate the traditional Polish holiday, not some monsters. It has always been like this and we will stick to it.”
Gazeta Wyborcza

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End of the Line?

Polish State Railways (PKP) are facing a tragic situation. PKP Regional Railway Services, which for many Polish people is their only connection with civilisation, will soon cease to exist. The Supervisory Board wants the Management Board to declare bankruptcy within a week. As a consequence, only small railway companies and Intercity will be left. The Supervisory Board wants the Management Board to declare the bankruptcy no later than on 6^th November 2009. According to the monthly Rynek Kolejowy (Railway Market), the aim of the bankruptcy is to facilitate reaching an agreement with the obligees and the future re-establishment of the company from scratch. However, there is only one problem, i.e. pursuant to provisions of the Bankruptcy and Recovery Act as of the 8th September 2000, every company that was established on the basis of this Law cannot declare bankruptcy. Due to the fact that PKP Regional Railway Services was set up pursuant to this Act, attorneys of the company have a tough row to hoe because they have to declare insolvency of a company which cannot legally go bankrupt. If PKP Regional Railway Services collapses, this will be a tragedy for numerous passengers because many trains will cease to shuttle to and from small towns cutting them off entirely from the outside world.
Dziennik

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Exotic Idea

What is the best solution when you experience fatigue at work? A year-long leave spent travelling to the farthest corners of the world. Increasingly more Polish employees decide to depart on such trips. “Employers from Western Europe long ago discovered that this is a splendid way of motivating their workers. They have even established the specific conditions under which such sabbaticals are granted,” says labour market expert Wojciech Nagel. Two years ago, a career was most important to Maciej Hebda. A strategic consultant in an international corporation, he had not had a single day off in more than a year. “I worked in the office as much as fifty hours a week,” says Hebda. After completing one of his projects he was offered a promotion and increased responsibilities. Instead of feeling overwhelming joy, Hebda panicked because he thought that his career would consume him. He did not accept the promotion and decided to travel to Africa and Asia for 9 months with his girlfriend.

“This was the best option. Not only have I kept my chance for promotion, but I managed to spread my wings,” he says. Maciej currently works as an analyst for Espirito Santo Investment Poland and he claims that his trip was a crucial asset during the job interview. His new employer was interested in Hebda’s experience. Like Hebda, many young Polish business people decide to take a break from  their career and travel to some exotic location for several months. Interestingly, they are aided by their employers. “It is still a fresh idea in Poland and only a few companies decide to organise such leaves in a formalised manner. These are usually international enterprises with experience taken from the West,” explains Wojciech Nagel. Such sabbaticals are available for Polish workers at Ernst&Young, IBM and PricewaterhouseCoopers. McDonald’s also offers sabbaticals to its employees who have been working for them for 10 years. Some employers see this as a good investment in their workers. They send their staff on special holidays because a well-motivated and rejuvenated employee works more efficiently.
Dziennik

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Poland - New Market?

The company Gourmet Foods, which imports and distributes Dilmah tea, will open a “t-bar” in Warsaw, the first outlet of a new tea shop chain. It is highly probable that the first t-bar will be opened in Warsaw this year. Gourmet Foods plans to develop the tea house chain under the name “t-bar”. “For the time being, we will establish only one tea shop and if customers like the idea, we will open other outlets. In the future, we would like to create a chain of tea houses in Poland,” says Mr Paweł Dudziak, communication coordinator of Gourmet Foods. If we manage to succeed, t-bars will be the first chain of tea shops in Poland, similar to those which already exist on the coffee market. As Ms Agata Zarębska, analyst of the food service market, notes, currently there are only independent tea houses or chains such as, Czas na herbatę (Tea Time) in Poland, which specialise mostly in selling tea to go. “In our shops, customers will be able not only to drink tea, but also eat and read, whilst the sale of take-away tea will just be an additional element of the business,” explains Paweł Dudziak. He also adds that the idea will most certainly turn out to be a success. “After analysing the hitherto sale of Dilmah tea, we are sure that t-bars will prove to be a success, especially since similar tea houses have already been operating in all the bigger cities in Europe, for instance, in Milan or France,” says Paweł Dudziak.
Gazeta Prawna

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Orlen Team

All motorcycle riders from the Orlen Team are in the top ten after two stages of the Morocco Rally. Jakub Przygoński came out best and is now ranked seventh. Cyril Depsres won Monday’s stage and Jordi Viladoms maintained his position as leader. The stage was shortened because of a serious car accident to the technical crew. “We got lost. Fortunately, we didn’t lose much time but Marek and myself were beaten by our main competitors and now it will be hard to make up for that loss,” said Jacek Czachor. Jakub Przygoński had serious health problems and took part in the rally only after having taken strong painkillers. “I have had abdominal pains since yesterday. I haven’t eaten anything all day so during the stage I was in really bad form and did not have enough strength to ride fast. Also, I made a mistake and lost 4.5 minutes. I hope I will recover soon and that tomorrow I will be able to tackle the route head on rather than battling with myself.”

The results of the second stage:
1. Cyril Despres (France) 1:46.00
2. Marc Coma (Spain) 2.25
3. Juan Barreda (Spain) 4.05
…
8. Jakub Przygoński (Poland) 14.17
13. Jacek Czachor (Poland) 21.01
14. Marek Dąbrowski (Poland) 21.50

The general classification:
1. Jordi Viladoms (Sapin) 5:42.00
2. Marc Coma (Spain) 28 s
3. Cyril Despres (France) 2.37
…
7. Jakub Przygoński (Poland) 17.13
8. Jacek Czachor (Poland) 41.02
10. Marek Dąbrowski (Poland) 47.02
Dziennik

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The Most Beautiful?

22-year-old Maria Nowakowska, from Legnica, is the new Miss Poland. She works as a sales representative in a pharmaceutical company and studies at the Witelon University of Applied Sciences in Legnica. She is interested in cinema, music, and tennis. Her biggest dream is to have a house by a lake and a family. Angelika Jakubowska, the former Miss Poland, crowned this year’s winner. Agata Biernat, from Zduńska Wola, was second and Katarzyna Suberska was third. The women taking part in the competition appeared on the stage dressed in local outfits, swimsuits, party gowns, wedding and evening dresses. Miss Poland apart from being deemed ‘the most beautiful woman in Poland’ also received a car and diamond jewellery. The final was held in the Biała Fabryka (White Factory) in Łódź.
Rzeczpospolita

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Laughing Stock

Michał Wiśniewski is now world famous. The Polish singer, known for his red hair, garish clothes and ridiculous style hit the headlines on www.viceland.com. The British website enjoys making fun of random people and Wiśniewski just happened to fall into their path. However, Viceland was completely unaware of the fact that this ‘random’ fashion victim is a huge celebrity in Poland with thousands of adoring fans across the country. Viceland posted a picture of Wiśniewski with the title “Don’t” i.e. don’t do this, don’t look like this, don’t be anything like this.
Wirtualna Polska

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