T RUST eligible recovery after the 90 million defeat

The Democratic Party of Kosovo (PDK) as the largest opposition party has proposed withdrawing up to 30 per cent of pension savings. This initiative has joined other opposition parties, considering that the well-being of citizens has been markedly vulnerable following last month's rise in inflation.

A few days ago, the Trust announced it suffered millions of losses from investments in foreign markets, following the start of the crisis in international financial markets following the Russian invasion in Ukraine.

A total of 90m euros was the amount the Trust announced has lost from investments in foreign markets, only in the first 7 days of the start of the war between Russia and Ukraine.

However, according to the latest data from foreign markets, the Trust has managed to return about 60m euros in profits.

On April 13th 2022, the Trust has declared it has under management 2, 340, 383,190 euros until 25 February, it has declared it has 2, 286, 571,013 euros.

The pension fund had closed in 2021, with a fixed budget worth 2, 353, 174, 91 euros.

The Democratic Party of Kosovo has 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.

This bill is expected to be sent to the Parliament's Headship for the introduction of days for review.

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.

Kosovo Prime Minister Albin Kurti has said today that he does not see the problem as a solution, allowing the withdrawal of money from the pension Trust. Kurti has said that with the Economic Resurrection Pack, only the crisis in Kosovo is eased.

We've said it a lot earlier, even when we were in the opposition now. With the package of economic revival, we ease the crisis. We do not consider that by taking on the individual old age of current workers, we will solve the problem”, Kurti said.

“E have seen that even two leading experts at the International Monetary Fund have given their assessment that such a solution is not the solution”.

The Pension Savings Fund has over 700 thousand contributions.

Currently, 78 percent of the means are invested in international financial markets and about 22 percent in Kosovo.

The taxpayers, 10 percent of the amount obtained from the pension savings earned while working, had withdrawn it in 2020.

An estimated 200m euros of over 420 thousand taxpayers had been withdrawn from the Trust. The attraction was made after the Law was adopted for economic recovery. / P ERISCOPI/