Board proposed to the Assembly fee for 2014

Governing Board of the Kosovo Pension Savings Trust has sent to the Assembly of Kosovo for approval the proposal for the management fee for 2014. Management fee, as defined by the new Law on Pension Funds, will be separated in the operational fee and investment fee.

In order to finance the operational activities, the Board decided to request from the Assembly to approve an operational fee of 0.13% of assets, which is lower than the current 0.15% fee adopted by the Assembly for the year 2013.

As for financing the investment activities, the Board decided to request from the Assembly to approve an investment fee of 0.40% of assets, which is higher than the current 0.38% fee adopted by the Assembly for the year2013.

In total, fees proposed by the Board for Assembly’s approval are 0.53% of assets, which is equal to current level. Despite the request to maintain the same level of overall fees as in 2013, KPST continues to be the pension fund with several times lower fees than other defined contribution pension funds in the region.