The possibility of attracting 30 per cent of savings, speak from Trust

The possibility of attracting 30 per cent of savings, speak from Trust

The withdrawal of savings from the Pension Fund is the competence of the Kosovo Assembly and that each decision this body brings will be back. So said the chairman of the Pension Savings Fund Steering Board, Ruzhdi Morina, adding that Trust losses have begun to recover. “We continue to hold the position that [...]

We continue to maintain the position that we don't want to be involved in these recordings. This is the competence of the Kosovo Assembly. We are willing to comply with any decision that the Parliament makes. It is good for these initiatives to be discussed, but this should be the last opportunity to help citizens”, Morina said during the report to the Commission on Board.

According to him, returning to investment for last year has been the biggest since the Fund's formation.

<x0.>Kissing 11 per cent or 227m euros, larger since the establishment. The war in Ukraine has affected Trust performance. We've taken investment action. In January we had a return to profits. Out of the 90 million losses, we've already recovered this, where we have reached about 80m euros. About 17 thousand beneficiaries have been affected, but they're beginning to re-arrange. There is expected to be a change in the entity's” price, he added.

He has stressed that in Kosovo commercial banks, the Trust has invested around 530m euros.

After the price hike in the market, many of the citizens are considering a government assistance necessary. It has recently been proposed that citizens can withdraw up to 30% of pension savings from the Trust. This proposal has been welcomed by the latter, and the latest research carried out by Pyper proves it.

73.1% of citizens surveyed are for the decision to withdraw up to 30% of the pension savings from the Trust. Also, if that decision is adopted, 79% of them have indicated themselves willing to withdraw their pension savings from the Trust.

Asked about the main reason why they would withdraw their money from retirement savings, respondents responded as follows:

  • To ease and cope with the financial crisis (58.5%)
  • To have as savings I can spend if I need 25.3%)
  • Because I have to use them for other reasons and not as a result of the financial crisis (16.1%)

Also, in question of how much it would facilitate passing the financial crisis that has engulfed Kosovo's withdrawal of savings, the respondents' responses were different. Only 28% of respondents think that attracting savings would greatly facilitate the financial crisis that has engulfed Kosovo. 51.9% think it would relieve them to some extent and 20.1% have claimed it would not at all facilitate them.

The investigation into question has been conducted through an unusual sample in which about 1050 people throughout Kosovo have participated. / PERISCOP

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