Kosovo Pension Fund gains 241 million EUR

Prishtina, 23 May 2007 – The Kosovo Pension and Savings Trust (KPST) is an independent financial institution established in accordance with the UNMIK Regulation for pensions in Kosovo. This was done in order to administrate the system of obligatory savings.

Contributions to the KPST are obligatory for all employed citizens in Kosovo, which are born in 1946 and later, whereas citizens born before this year can contribute voluntarily. According to KPST’s spokesperson Visar Ymeri, until April 2007 KPST has collected 241 million EUR. The total number of contributors is 231,000.

Head of the Riinvest – Institute for Development Research Muhamet Mustafa continuously suggested that the Trust Fund and the Pension Fund should be used for rational economic purposes, such as investments in production sectors and in infrastructure. He stressed that by keeping the funds frozen, it will have a negative effect on the economic growth.