Minister Recica: The pension system will be reformed, the work stage will be recognized for those who left in the 1990s.

The Ministry of Labour and Social Management will take steps to fully reform the pension system, and this system will be built on international standards.

So the minister, Skender Recica, announced during a media conference, presented a document concept that regulates the area of pension management and insurance.

He said it is one of the biggest reforms the Government of Kosovo has ever undertaken, according to him, this issue has been silent, but now it is getting the stamp of support.

Recica stressed that the new system will be made up of four pillars and with the creation of this social reform, according to him a good basis for real management of the pension system and the requirements of all citizens.

Recica: These are four pillars that are the basis of pension reform

“It will be a zero line like the innovation, which includes these pensions, retirement of old age, or social retirement as we are calling all persons over the age of 65, the retirement contribution of 99, the family pension before 99, the disability pension before 99, the pension for limited ability, the pension of war categories, the pension of the TMK, and compensation for the unemployed Lebanons, or parental protection as we are calling it. The first pillar will be financed by the fund for social security, the percentage or the payment rate for social insurance. From this pillar, age pension, disability pension, family pension, early retirement, parental protection, unemployment protection, and child protection would be financed. The second pillar of the new pension system will be the savings fund, or Trust as we call it, and the third pillar of insurance or voluntary benefits”, Recica said.

Reece in this concept of reforming the pension system, says the minister, is that all those working during the nine years will be recognised.

Recica: Work stage will be recognised to those who left work in the 1990s-99s

“Ries that will be within this for reform in the pension system is that we've been very cautiously addressing the demands of our violent retired citizens in the 1990s-99... this will be a relief to us, but and for those not to be recognised as discriminated against or humiliated by”, he added.

Minister Recica added that the current pension system is not a literal system, according to him it was built by creating ad- hoc pension schemes, and all pension schemes are currently regulated with eight laws, as he says often clash with each other.

There will be public consultations for this document concept from today to December 3, 2018.