On 23 July 2009, the American Chamber of Commerce hosted the conference with the theme "The role of pension funds in developing the capital market"
Which was discussed and importance of capital market development in Kosovo. Dardan Sejdiu, director general of the fund-t as active participants in the conference, delivered a presentation regarding this matter and stated inter alia that "pension funds are the largest institutional investors and this should be accomplished as soon as in Kosovo. " At the conference participants were also professors from Georgetown Reena Aggarwal and Dora Lynn
04.06.08 - Interviste e Dardan Sejdiut dhënë KosovaNews
Prva pokojninska družba has been reorganized into insurance holding company Prva Group
With registration in companies register on 6th November 2007 Prva pokojninska družba plc has been reorganized into insurance holding company Prva Group plc.
Insurance supervision agency issued a statement to Prva pokojninska družba plc which ascertains that company's permission for dealing with pension insurance activites with date 14th September 2007 is terminated. With this statement and registration in companies register a 6-months-old process of reorganizing Prva pokojninska družba into Prva Group plc and establishment a new daughter company named Prva osebna zavarovalnica is finished.
Pension insurance activities and all insurance contracts were transfered to Prva osebna zavarovalnica plc which has permission to deal with accident, health and life insurance in Slovenia.
Prva Group has 8 daughter companies; Prva osebna zavarovalnica in Slovenia, KB Prvo penzisko društvo AD Skopje in Macedonia, Fondi Slloveno-Kosovar i Pensioneve sh.a. Prishtine in Kosovo, Garant penzijsko društvo a. d. in Serbia, Pension Standard in Ukraine, Prima Pensie in Romania, and companies in Albania and Montenegro that are still in the process of acquiring the licence.
03.10.2007 - EBRD supports pension fund PRVA's expansion in south eastern Europe
The EBRD has signed an agreement with Prva Pokojninska Druzba ("Prva") , Slovenia in March for an equity investment worth €8 million which will provide further funds for the establishment and expansion of Prva's pension fund and asset management subsidiaries in southeastern Europe (Serbia, Kosovo, Montenegro, Albania, Romania and Ukraine) and at a second stage in the Commonwealth of Independent States. As a result, the EBRD becomes the third largest shareholder of PPD with a 20 percent stake, following Dej with 32 percent and Poteza Skupina with 30 percent.
Established in 2000, Prva is now the leading pension fund company in Slovenia with a market share of approximately 22.5 percent. It currently also has pension fund operations in the FYR of Macedonia with a market share of 53 percent, in Kosovo and Serbia, and is entering the Albanian and Ukrainian markets. All together, Prva group companies have more than 250.000 policyholders. Despite being a relatively young company, PPD is emerging as one of the leading pension providers in the region with experience and a clear regional focus.
In Romania Prva has established Prima Pensie Fond de Pensii S.A. The company aims to have a 10 percent market share of mandatory funds and will also launch a facultative pension fund in the first quarter of 2008.
Jonathan Woollett, EBRD Director for Non-Bank Financial Institutions, said "As a shareholder in Prva Group Slovenia, the parent company of Prima Pensie, the Bank strongly supports the entrance of Prima Pensie in the Romanian pension market. Prva Group is a capable regional pension manager providing pension insurance and pension fund management products across the region. The participation of Prima Pensie in the Romanian pension market will enhance competition and bring valuable know-how to local pension markets."
Damjan Mencej, President and CEO of Prima Pensie Fond de Pensii S.A., said "Prima Pensie offers the expertise acquired by PRVA group in the pension sector and in portfolio management. In Romania the company has a skilled team of people who are experienced in all aspects of the fund's activities."
11.07.2007 - Wonderful success of Slovenian-Kosovar Pension Fund...
Recently, Slovenian-Kosovar Pension Fund has achieved a very good success in investment of pension assets which has increased the unit value of this fund to 110,35 for five months from 1st of February when this fund actively started work.
In other words, this means that the mentioned fund has achieved a return of 10,35 % for five months and ten days.
Unit Value = 100.00
Unit Value = 110.35
As it can be seen from the beginning of our activity as a fund, the unit value has been 100.00 whereas now it has marked an increase to 110.35 that in other words is 10.35 % return on investment for five months and ten days or 1.95 % return on monthly basis.
On of our insured who has contributed to the fund in amount of 30 euro from February, now after five months and ten days will have accumulated in the fund the net amount of 158.38 euro and that is after entrance fee has been deducted.
If this were compared with bank saving then our insured would have saved also at the bank 30 euro monthly, from bank for this small sum would earn 2 % annual interest that on monthly basis would mean 0.16 %. If this person had saved 30 euro monthly for five months in a bank, the person would earn the accumulated amount of 150.50 euro, which at the end would also be taxed from the net amount after taxes and would be 150.40 euro.
Maximum annual interest that can be earned at the bank is 4 % for high deposited amounts over 5000 euro whereas if SKPF would continue with this trend of opportunity capitalization for investments that arise in financial markets, it would achieve a return on investment of 20 % which is five times more than at the bank.
This wonderful return on investment is achieved due to flexibility that pension funds have to react quickly to very favorable opportunities in financial markets.
Slovenian-Kosovar Pension Fund as a contemporary pension fund with the assistance of experts from Slovenia, has managed to have this return on investment by using several times the wonderful opportunities that have appeared on capital markets and world stock exchanges.
Every insured with the SKPF is able to see at the web portal of SKPF in My Account the accumulated amount in the fund together with the investment return of 10.35 %. All he/she needs to do is enter the web portal and enter the his/her username and password and there can see gathered assets and what is the net sum accumulated in the fund after this wonderful investment return that SKPF has achieved during these five months.
Such a return can be achieved only by world known institutional funds.
SKPF tends to publish on daily basis the unit value and investment return after using the wonderful opportunities on financial markets to make the investment of pension assets as transparent as possible for the insured.
10.06.2007 - First Pension Company has acquired license for supplementary pension insurance provider in Ukraine...
Pension company in Ukraine is the fifth company, established abroad, in property of First Pension Company.
In the beginning of 2007 First Pension Company has established a subsidiary company Administrator NPF Pension Standard with statutory capital of 1 million EURO. During the next few months the Company acquired all necessary licenses and permission allowing it to provide full specter of services inside Ukrainian third pillar pension system (supplementary pension insurance). The voluntary pension system in Ukraine demands two different and separated licenses; one for the Administration of Non-state Pension Fund (NPF), the other one for Asset Management of NPF. In the meantime the Company also established own Open NPF Second Pension as independent legal entity and non-profit organization.
The company (director is Yuriy Lyubchenko, Slovenian representative - Denis Mancevic) has its headquarters in Kiev and plans to attain 25.000 insured people with 750.000,00 EURO of assets under management till the end of the year. The system of supplementary pension insurance in Ukraine is similar to Slovenian one, stimulating the employers with tax reliefs to pay premiums for their employees. For this reason the Company's target group will be big and medium-sized enterprises within collective insurance.
In Ukraine, despite the huge market, pension insurance is not heavily developed. First Pension Company with the experience and knowledge from Slovenia and other developing markets plans to become one of the leading providers of supplementary pension insurance in Ukraine, the biggest country in Europe.
11.04.2007 - Financial Fair...
On the date of 11 and 12 April 2007 in the Youth and Sports Centre in Pristina, was held a financial fair where a number of financial institutions that support the business community in various aspects participated.
At this Fair was also present Slovenian-Kosovar Pension Fund, which was visited by a great number of citizens who expressed great interest on new saving opportunities which have been lacked for a long time.
This helped that the citizens from now on have a clearer picture about Slovenian-Kosovar Pension Fund and think about a better future by saving with us for an old age without worries.
28.03.2007 - EBRD buys first part of shares...
Prva pokojninska druzba d.d. Ljubljana (main founder of SKPF jsc) has changed the constitution of his shareholders and now is also owned by EBRD (European Bank for Reconstruction and Development) with 20% of the shares. This step was undertaken by EBRD and once more proves that Prva pokojninska druzba is a reliable partner to offer pension insurance in the region, where in the Slovenian-Kosovar Pension Fund is also included Kosovo.
Chairperson of Managing Board
EBRD buys first part of shares in pension fund of Slovenia €8 million investment in shares in Prva pokojninska druzba
European Bank for Reconstruction and Development (EBRD) has bought 20% of shares in Prva pokojninska druzba (PPD) of Slovenia, manager in private ownership of compulsory and voluntary pension schemes in Slovenia and Southeaster Europe. Investment of EBRD to €8 million will offer further finance on establishment and expansion of pension funds of Prva with pension funds and asset with similar managers in Southeastern Europe (Serbia, Kosovo, Monte Negro, Albania, Romania and Ukraine) and in the second phase in The Commonwealth of Independent States.
After this increase of capital, EBRD has become the third biggest shareholder in PPD after Dej, that has 32% of the shares and Group Poteza with 30% of the shares.
This is the first participation of this bank in purchase of shares in a Slovenian owned pension fund. Established in year 2000, Prva currently is the leading company in pension funds in Slovenia with about 67,000 insured and a percentage of the market of about 22.5%. For the moment, this company also works in Macedonia with about 70,000 insured and a market percentage of 53%, Kosovo and Serbia and is entering the markets of Albania and Ukraine. Despite the fact that this company is relatively new, PPD is emerging as one of the pension saving service suppliers with adequate experience and with a clear regional focus.
"Current shareholders of PPD have agreed to increase the capital in the best possible way in order to be competitive to enter the Southeastern Europe markets," said Alenka Žnidaršic Kranjc, Chairperson of Managing Board of PPD. "The cooperation with EBRD reduces substantially the risk of entering into such markets because it helps in creation of solid local partnerships and acquiring of market expertise which results with profits for the insurants of PPD", ended Žnidaršic Kranjc.
The EBRD has always supported the pension reforms in countries where it operates, said François Lecavalier, Director of EBRD for Slovenia, Slovakia, Hungary and Czech Republic. Investment in PPD will make available the Bank to support a capable regional manager of pension assets in providing pension insurance and pension product asset management throughout the region. This is especially important for development of non-financial institutions' market in Southeaster Europe where due to low income, lack of private pension saving culture and relatively small size of the market, selection of these products remains limited for the moment, he added.
PPD is seen as a well-established institution to offer a selection of such products and to secure the transfer of expertise in respective countries regarding the pension fund management that will be further completed by regional expertise and EBRD markets.
EBRD, which is owned by 61 country and two intergovernmental institutions, aims to incite the transition from planned economy in central level to market economy from Central European countries to Central Asia. Visit EBRD internet site: www.ebrd.com
Prva pokojninska družba, JSC, one of the main providers of compulsory and voluntary pension saving schemes in Slovenia and Southeastern Europe. In FYR of Macedonia, Serbia, Slovenia and Kosovo for the moment has over 140,000 insurants and members of the fund with more than €110 million of assets in management. For more information about Prva, visit the internet site: www.prva.net
22.11.2006 - Opening Ceremony...
On 22.11.2006 the opening ceremony of Slovenian-Kosovar Pension Fund was held.
In this opening ceremony that was held in our offices in Pristina, except the Fund Director Mr. Avni Sejfuli, owner of PPD (Prva Pokojninska Druzba) Ms. Alenka Znidarsic-Kranjc and representatives of corporation Dukagjini Mr.Ekrem Lluka and Agim Lluka, were present political representatives as Prime minister Mr. Agim Çeku, Minister Mr. Astrit Haraçia, Mr. Hashim Thaqi, Mr. Ramush Haradinaj Mr.Veton Surroi etc.
In opening ceremony was presented our goal and our vision for the future of the Fund.