Expires the mandate of Governing Board members
On 28th of February 2023, mandate of all members of the Governing Board of Kosovo Pension Savings Trust (KPST) has expired. Hence, from today, 1st of March 2023, KPST is without a Governing Board.
Due to the fact that decision-making on investments is an exclusive legal/fiduciary responsibility of the Governing Board, which cannot be delegated, absence of the Governing Board makes impossible for the institution to undertake any decision on the investment of pension funds, both for the investments of pension assets within and outside Kosovo. Thus, all current investments cannot be changed (added or withdrawn), just like new pension contributions collected – cannot be invested.
In order not to leave a decision-making void with consequences (mentioned above) for pension assets, the Law foresees opening of the announcement on time, therefore in continuity to have a functional Governing Board.
As reminder, the announcement for vacancy of members of the Governing Board in KPST is closed on 23 December 2022, and Selection Committee (appointed according to the Law on Pension Funds) remains to review potential candidates that will proceed to the Assembly of Kosovo for their appointment.