Emerging private pension market up to Euro 3.8 mln

TIRANA, Aug. 5 – Net asset value in the emerging private pension market rose to around 536 million lek (Euro 3.8 million) at the end of the first half of 2014, registering a 23 percent increase compared to the end of 2013, according to data published by the country’s Financial Supervisory Authority.
Meanwhile, total membership in the three operating pension funds, Sigal Life Pension, Raiffeisen Pensions, and Sicred Pensions rose by 6.3 percent to 8,385.
The voluntary private pension market holds less than 0.1 percent of financial system assets and aims at supplementing pensions offered under the government’s obligatory scheme.