American Chamber against withdrawing pension savings
At a time when the initiative to amend the Law on Pension Funds of Kosovo is put on the agenda of the Assembly of the Republic of Kosovo, the American Chamber of Commerce in Kosovo reiterates its concern about the possible approval of the proposed changes that would enable the withdrawal of a portion of pension contributors' savings.
AMC in a press release says that understanding the concern of the initiators and proponents of the proposed changes in terms of raising the cost of living, the American Chamber recalls that the contraction of pension savings at the expense of meeting current challenges undermines prospects for a dignified life after the retirement.
"Also, given that part of the pension savings funds is invested in treasury bills, the possible contraction of funds will affect the state's ability to make capital investments, which in turn will slow down the economic growth. The short-term socio-economic benefits of enabling the withdrawal of pension savings would in no way outweigh the negative consequences of such a measure. Therefore, policymakers in Kosovo, the ruling majority and the parliamentary opposition, but also other stakeholders, should be involved in a comprehensive dialogue in order to identify appropriate measures to overcome the current crisis and what may follow in the coming months", it is said in the statement.