Pension phase withdrawal is changed

Kosovo Pension Savings Trust (KPST) notifies all contributors and retirees that the minimum value of the pension amount that they shall draw during the phase distribution from the Kosovo Pension Fund, starting from 1 January 2013 will be 150 euro. This applies to all retirees who are drawing pension from the Pension Fund. The value of their pension will increase from 100 to 150 euro, starting from January of this year.

This implies also that all the contributors who benefit pension and have pension savings from over 2,000 euros up to 15,000 euros, the value of pension shall not be less than 150 euro. And contributors who have pension savings more than 15,000 euros, will draw 1% of their pension amount in monthly basis.

Pension phase withdrawal in case of contributor’s decease

We should remind contributors for the issue of withdrawal of pension assets in the event of the contributor’s decease, and this is done under these two options:

1. If the contributor deceases before applying for pension – then the beneficiary (heir) withdraws the entire amount collected in a single payment;

2. If the contributor deceases after applying for pension – then the beneficiary (heir) of pension will continue to draw pension savings in phases same as contributor, until entire amount runs out.