Citizens have increased interest in investing in private pension schemes. At the end of July, the number of people who paid to receive a pension from voluntary funds reached 41,300, up 8% since the beginning of this year and by 18% compared to the same period last year.

In Albania, this scheme is mainly joined by employees working in private companies, but even though there are more members from year to year, the data show that the number remains modest and constitutes only 3.1% of all employees in the country.

In terms of value, assets at the end of July reached 7.3 billion ALL, with an annual increase of 18%.

Voluntary pensions are an impetus to guarantee a more dignified retirement for the third age. Contributions can be paid monthly, 3-monthly, 6-monthly, annually or as a lump sum. Paid contributions are deposited in the fund member’s individual account opened at the custodian bank.