Raiffeisen Pensions re-licensed

TIRANA, Nov. 11 – Raiffeisen Pensions has announced it has become the first company to be re-licensed by the Albanian Financial Supervisory Authority under the requirements of the new law.
“We are very happy to be the first and I would like to stress that we will do everything in our power to develop this market and to offer the best services offered in other western markets. This is the first real step toward the liberalization of the private pension market and we welcome these measurements,” said Christian Canacaris, CEO of Raiffeisen Bank in Albania.
The object of the activity of Raiffeisen Pensions is to appropriately manage pension funds in order to provide supplementary private pensions for the individuals during their third age period. In addition, employers may also make contributions on behalf of their employees.
“We are very excited to get the new license according to the requirements of the law. We will work hard to fulfill the financial and social needs for adequate income at retirement and to be the market leader in setting new and high standards in the pensions industry in Albania,” said the CEO of Raiffeisen Pensions, Majlinda Gjata.
Raiffeisen Pensions offers new alternatives of saving and providing income for retirement.
The Albanian Financial Supervisory Authority says it is eager to push for reforms in private pension market and non-banking financial market in general. Recently, progress has been made regarding pensions industry and other developments are on the way in order to complete the legal framework.