Fantastic news, Trust returns nearly all the money it lost to international markets

A total of 90m euros was the amount the Trust announced has lost from investments in foreign markets, in the first seven days of the start of the war between Russia and Ukraine, Periscope writes.

However, according to the latest data from foreign markets, the Trust has managed to recover more than 82m euros in profits.

Periscop has seen the recent publication that has made Trust on the state of tools under management, and it is seen that they currently have management tools worth 2, 361, 374, 921 euros, until 25 February had declared there are 2, 286, 571,013 euros.

The Pension Fund had closed 2021, with a fixed budget of 2, 353, 174, 911. Compared to the end of the year, which was best for this institution over the years. There are now about 6m euros more under management.

Seeing the major losses due to the war in Ukraine, the Steering Board of the Kosovo Pension Savings Fund, based on recommendations by the Investment Board Commission, at the March 15th 2022 meeting had decided on the withdrawal and access of tools: Fund investment attraction: a. All investment from BNP fund Paribas Target Risk Balanced; b. 50m euros from BNY Mellon Global Return; c. 30m euros from the Crude USO ETF oil fund.

Then the tools were invested in funds: a. 50m euros in CQ ; B. 50m euros at XOP ETF; c. 20m euros in Vanguard GSI; d. 40m euros in Vanguard GSI if the fund price drops 15% below the price of the 3112.2021; e. 50m euros in CQ Whenever the funds were sold under point 1. They're ready for investment.

The Democratic Party of Kosovo had proposed attracting up to 30 per cent of pension savings.

Because of the serious economic situation, the party's deputy, Bekim Haxhiu, on behalf of the PDK Parliamentary Group on March 9th has handed over the draft Law on Fulfilling and Changing the Law on Pension Savings Fund, which would enable the withdrawal of these tools.

Under the PDK proposal, contributors with less than 10,000 euros in pension savings are required to have the right to withdraw 30 per cent of the means.

Those who have up to 20 thousand euros by 25 percent, from 20,000 to 30 thousand, 20 percent.

For taxpayers who have pension savings in the amount of 30 thousand euros: 15 percent and those over 40 thousand euros.

The Kosovo government has said it does not support the Kosovo Assembly initiative to withdraw resources from the Kosovo Pension Savings Fund, also known as the Trust.

“Pulling tools from the Trust does not help categories in need, as their own pension fund percentage is low. With the savings of old age it should not be abused and such action, it should be seen as inadequate”, the Kosovo Government announced, following an electronic meeting Wednesday, 21 April.

The Kosovo executive, led by Albin Kurti, said it is close to citizens for the “to help through redeal, increased employment, increased reliance on social schemes, for children, women and young people, as well as for small and medium-sized farmers and entrepreneurship”. The Democratic Party of Kosovo, like the largest opposition party, had initiated the legislative initiative for attracting up to 30 per cent of pension savings.

Kosovo citizens have had the right to withdraw their savings from the Trust after a decision taken in 2020. This decision was made due to the worsening financial situation of families in Kosovo, due to the coronary pandemic.

An estimated 200m euros of over 420 thousand taxpayers had been withdrawn from the Trust. /Periscopi/