Clarification for media reports on the state of KPST assets

The KPST has followed with concern several reports in some digital print media and social network accounts during the afternoon of November 29, 2023. The title established by those reports about the alleged “decline/loss of the value of the pension funds of the KPST for “hundreds of millions of euros for one month” (which was thought for the month of October 2023) did not coincide with reality at all.

This media report was based on a monthly bulletin of the Central Bank of Kosovo, for the month of October 2023, and on the paragraph where it was about the change in the state of investments as a whole (and not only pension funds) in securities in Kosovo . Therefore, the decrease of 305 million euros in the investments of October 2023 compared to September 2023 has no connection with the state of pension funds of KPST. The CBK was also immediately informed about this issue and agreed to make a supplementary clarification in the relevant report, to leave no room for interpretation.

For the information of the contributors and the entire public, we clarify that the investment performance of KPST, is currently positive for the period January 1 to November 24, 2023. Both the Standard Portfolio and the Conservative Portfolio have a positive result from investments and the joint net return for this period is about +31 million euros and there is no room for concern. Also, the pension funds under the management of the KPST for this period of 2023 have been raised for about +218 million euros. Contributors can easily verify this through the eTrust service.

We hope that this clarification will be published to all the digital media that reported the news incorrectly, or at least will correct the reporting, as they may have caused unnecessary (perhaps unintended) concern to KPST contributors.

We ask the media before reporting news that affects the interest of the contributors to contact the KPST to get the necessary clarifications, in order to avoid such misreporting.

It should always be borne in mind that the KPST is currently the institution with the significantly larger number of citizens that it covers with services (with over 850 thousand accounts since its establishment until now) and the care of the media for reports about this institution should be maximum: for confirmation of reports and headlines before publication.