The Assembly Committee approved the Annual Report 2022 and the fees and plan for 2024

The Committee of the Assembly of the Republic of Kosovo for Budget, Labor and Transfers has approved the Annual Report of the Kosovo Pension Savings Trust (KPST) for the year 2022 at the meeting of December 12, 2023.

Also, at this meeting, the Committee approved the management fees (for investments and operations) for the year 2024 as well as the Performance Plan of the KPST for the following year.

This approval came after discussions in the Committee, where the KPST was represented by the Chairman of the Governing Board, Mr. Emanuel Bajra, 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 presented to the Committee the main issues from the 2022 Annual Report, emphasizing especially the importance of the launch of the Conservative Portfolio, at the beginning of 2022, with which all contributors retired during that year were protected from the devaluation of the financial markets. Moreover, the Conservative Portfolio for 2022 had a +2.9% increase in value.

Also Mr. Bajra announced that despite the fact that the Standard Portfolio had a decline for 2022, by -5.5%, the fact that in 2021 we had a positive performance, +10.7%, and the fact that in 2023 this Portfolio currently has over 2% growth, have influenced that the contributors of KPST to feel protected and not worried about pension savings from the severe financial situation of 2022, which continued during 2023.

Mr. Bajra also informed the members of the Committee that the total management fees (for investments and operations) for 2024 proposed by KPST would be reduced from 0.370% (which were for 2023) to 0.358% of pension funds for the year 2024. He also reasoned that these tariffs are proposed as such by evaluating a series of expectations in the horizon of the KPST during the year 2024.

The KPST Board also presented the KPST Performance Plan for 2024, envisioning the operation of the institution under normal conditions. The KPST Board also informed the Committee about a series of decisions that the KPST’s Governing Board is making with the allocation of pension assets, inside and outside Kosovo, during the second half of 2023, as well as with the reviews and plans that are being done at KPST to advance and dynamize several processes in the institution for the coming year.

The members of the Committee discussed all these reports and proposals and asked for clarifications and information, for which explanations were given by the representatives of the KPST.

In this meeting, the Committee generally evaluated the reports and the proposed plans with positive marks and approved them as they were presented by the KPST.