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The voluntary private pension market is growing

The voluntary private pension market is growing

The voluntary private pension market has outlined rapidly increasing trends from year to year, both in terms of increasing the number of members participating in pension funds, and the value of net assets in the administration of pension funds.

The increase in the number of members has tripled compared to the beginnings in 2011. But the most significant increase has been after 2014. At the end of 2018, the number of members participating in pension funds is 25,298, almost tripled compared to 2014. This trend of increased participation in pension funds indicates a higher public awareness of the potential offered by this market.

In parallel with these high growth rates, the volume of net assets under administration has also increased. Data analysis also shows the increase in total net assets of pension funds. The value of net assets was ALL 2,289 million at the end of 2018, showing an increase of 264% compared to the end of 2014.

Credins Invest manages the Credins Premium Investment Fund, licensed in August 2016, and denominated in Lek. The Management Company itself was licensed in 2011 and also manages the Voluntary Pension Fund “Credins Pension”, with a number of over 15,000 members at the end of 2018, or about 60% of the voluntary pension market.