7 minutes agoThe Assembly is talking about Trust, but how much money does this institution have under management?
Periskopi(4 years ago)
(4 years ago)The Kosovo Assembly is reviewing the bill, which aims to allow the withdrawal of 30 per cent of the means from the Pension Fund known as the Trust, writes Periscope. Voting on this bill was put in order day at the June 22nd session, but due to the lack of quorum in the Assembly, the plenary session was postponed [...]
The vote on this bill was put in order day at the June 22nd session, but due to the lack of quorum in the Assembly, the plenary session was postponed for today.
But how many tools are currently under Trust management. The latest measures this institution has made on June 15th show that under management are precisely 2,292,062,258 euros.
The year 2021 was closed to a total of 2,353,174,911 euros, so there was a drop of about 70m euros. But in early June there has been a collapse of the figures, but Trust has again suffered losses.
The Steering Board of the Kosovo Pension Savings Fund, based on recommendations by the Investment Board Commission, at the June 17th 2022 meeting has decided that:
Selling 60m euros from the Lyxor fund EU Breakhaven ETF;
To sell 83.6m euros from the BNY Mellon Real Return fund;
Sell $07m from Nordea Stable Return and
To be bought on the secondary market $5m euros in government of the Republic of Kosovo statements at an interest rate of 3.74% and with a maturity of 9.7 years.
Establishing legal opportunities for Kosovo citizens to withdraw means of their savings from the Pension Savings Fund has caused debate in Kosovo, with arguments for and against.
The related proposal has made the largest opposition subject -- the Democratic Party of Kosovo -- on 9 March through a bill handed down to the Kosovo Assembly.
It was supported by the other opposition subject, the Alliance for the Future of Kosovo.
On the other hand, the Government of Kosovo has expressed itself against a withdrawal of the means from the Pension Savings Fund.
In 2020, after the economic crisis caused by the coronary pandemic, Kosovo's Assembly has adopted the Law on Economic Recovery, which has enabled citizens to attract 10 percent of the amount obtained from their retirement savings during their working time.
The process of withdrawing this percentage from the Trust began in late December 2020 and lasted until early April 2021.
According to Fund for Pension Savings data, more than 198m euros from 427,371 contributors have been withdrawn at the time. /Periscopi/
