1, 2, 3: The steps to follow to withdraw your payments from the Pension Fund

This law envisions that <x0 participants could attract ten percent (10%) of persional savings in FKPK or pension funds, in case of the economic crisis caused by pandemic. ”

This seems to leave it in the free will of the citizens themselves to receive or not to receive such payments, writes Periscope.

This law envisions the withdrawal of tools following electronic application within three months of the law's entry date into force.

The payment requirements will consider the Civil Recording Agency and other relevant institutions, though no available time has been specified.

Once the demands are approved, the money is transferred to the beneficiary's bank accounts.

These tools, the law says, will be exempted from personal income tax. /Periscope

Article 5

The Fulfilling and Changing Law No. 04/ L-101 for the Kosovo Pension Fund, complete and changed with Law No. 04/L-15, with Law 04/ L-168 and Law No. 05 L-116

1. Article 7 of Law No. 04/ L-101 for the Kosovo Pension Fund, complete and changed with Law No. 04/L-15, with Law 04/ L-168 and Law No. 05 L-116 (here of LFPK), at the end of paragraph 2, adds text as follows:

In particular, with the aim of economic recovery, participants may attract ten percent (10%) of the FKPK's pension savings, in line with Article 12A of this law.

2. After Article 12 of the LFPK, the new article is added with the central 12A, text as follows:

Article 12A

Paying individual pension savings for economic recovery

1. Participants could attract ten percent (10%) of pension savings in FKPK or pension funds, in case of the economic crisis caused by the pandemic.

2. In order to attract tools according to paragraph 1 of this article, participants apply in a nearby electronic form The KKPK within three (3) months of entry into force of this law.

3. In order to review the requirements, at the request of the BKPK, the Civil Record Agency and other relevant institutions share the participants' necessary data, with the aim of reviewing the requirements.

4. Requests approved by the FKPK are transferred to the bank accounts of beneficiaries, to financial institutions licensed by the CEC, and vehicle withdrawal is done only through bank accounts.

5. In order to implement this article, in case the minister of finance authorises the Central Procurement Agency for developing the necessary procurement activity on behalf of the KKP.

6. Tools drawn to this article are exempt from personal income tax.