TIRANA, May 19 /ATA/ – Albania’s private pensions market maintained an upward trend in the first quarter of 2023.
Data from the Financial Supervisory Authority said Friday that the number of pension funds members amounted to 37060 members, registering an increase of 1.48% compared to end of December 2022.
Fiv epension funds operated in the voluntary private pension market during the period January- March 2023. The data analysis of the voluntary private pension market shows total net assets of ALL 5.9 billion lek, with an increase of about ALL 265.98 million or up by around 4.67% since beginning of the year.
In order to align legislation with the European Directive IORP II and the best international standards, as well as to improve legal framework that regulates the market of private pension funds, the Financial Supervision Authority has drafted a new bill on private pension funds.
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