KPST Board meets with the Minister of Finances

The Governing Board of the Kosovo Pension Savings Trust (KPST) paid a visit to the Minister of Finances in the Government of Kosovo, Mr. Besim Beqaj. The delegation of the Governing Board of KPST was led by Chairman of the Board, Mr. Ymer Havolli, accompanied by two representing members, Mr. Driton Qehaja and Mr. Ruzhdi Morina, and the Managing Director.

On this occasion Mr. Havolli informed Minister Beqaj that the Kosovo Pension Savings Trust during 2013 continued with a positive return on investments. Mr. Havolli said that the Governing Board and the Management are constantly caring for the interests of contributors, diversification of pension assets and returns from investments, which are the principles established by the law.

“2013 ended with a gross return on investments with approximately 71 million EUR. At nominal value this is the best result in the investment field that KPST ever achieved. Only in last two years, 2012 and 2013, the gross return on KPST’s investments was around 125 million EUR” said Mr. Havolli.

Mr. Havolli also said that during 2013 there were 3,567 new accounts from which funds were withdrawn; meanwhile the total value of assets that were withdrawn during the year amounted to 10.7 million EUR. The total number of withdrawal accounts since the foundation of KPST reached 20,503, while the total withdrawn amount approached 39 million EUR.

Minister Beqaj by supporting and welcoming the activity of KPST, stressed that it should be continued with the same attention and good management of KPST assets, and committed himself to create legal conditions which should make KPST a part of the primary market of treasury bills.

Both institutions stressed that efforts should be made to lower the level of informal economy, since this would be beneficial for economic development, market competition and for the interest of contributors.