Prime Minister Kurti visited the KPST

The Prime Minister of the Republic of Kosovo, Mr. Albin Kurti, accompanied by the Minister of Finance, Mr. Hekuran Murati, visited the Kosovo Pension Savings Trust (KPST). This was the first visit of a Kosovo Prime Minister to the KPST since the declaration of the country’s independence.

Prime Minister Kurti was received at the meeting by the Chairman of the Governing Board, Mr. Emanuel Bajra; and from the members of the Governing Board:
Mrs. Mimoza Mustafa, Mr. Trim Shala and Mr. Shpresim Vranovci as well as the Managing Director, Mr. Adrian Zalli.

Mr. Bajra informed the Prime Minister of Kosovo with the development of the institution since its inception, appreciating the high professionalism that the institution has inherited and especially the fact that KPST manages about 2.7 billion euros with a staff of only 30 people. Mr. Bajra also appreciated the efforts of the institution for the protection of contributors during the last years with a lot of financial risk (2022 and 2023) managing to protect retirees from negative performance through a Conservative Portfolio, which had a positive result. Mr. Bajra also stated that the new Governing Board intends to dynamize the processes at KPST and recruit professionals in the field of finance, underlining the importance and weight of professional decision-making in the institution, for which adequate and sufficient staff will be required.

While Mr. Shpresim Vranovci, stated that the financial industry in Kosovo is generally at an early stage of development and it would be a wise solution for capable and proven students to engage and raise professionally in the field of financial markets, as this way they will be able to serve the entire financial industry in Kosovo. In addition to this, Mr. Trim Shala stated that the contributors served by the KPST generally have a positive assessment of the institution, but the public has received negative messages about the KPST, therefore an additional commitment is required to make the contributors aware of the features and role of this institution. Even Mrs. Mimoza Mustafa explained that KPST is in the process of building a new investment portfolio, as an intermediate stage of handling the investment risk of the transition from the Standard Portfolio to the Conservative Portfolio, and that work is being done on the preparation of a strategic plan for communication with public for the future. It was the Managing Director, Mr. Adrian Zalli, who informed the Prime Minister of the increase in pension contributions for the year 2023, to reach 270 million euros, from about 240 million euros the previous year, with the expectations that in 2024 this value will reach 300 million euros. Mr. Zalli also informed the Prime Minister about the decision-making processes in the past, taking maximum care in the institution’s investments and expenses, as well as assessed that the protective measures for contributors close to retirement have given quite satisfactory results.

For his part, Prime Minister Kurti confirmed the support for the institution, especially in professional advancement and raising human resources in the field of finance. He added that strengthening the institution is important, considering the great weight that the fund has alongside the Kosovo economy, but also as the main instrument for ensuring a dignified retirement in the future.

While the Minister of Finance, Mr. Hekuran Murati, stated during the meeting that he expects that the current Governing Board to have professional courage in decision-making, unaffected by the short-term public pressure, and to address the interest of the contributors through long-term strategies, without the need for a radical revolution in the institution.

In this visit, Prime Minister Kurti also met the staff of the KPST and expressed his gratitude for the service and engagement in this very important institution for the country.