Categories of people who can join the individual insurance are:
The employed themselves
Individuals who are not employed
Citizens of Kosovo who live and work out of Kosovo
When they want to save for themselves
When they want to pay for a family member in Kosovo
Individual insurance is possible by entering an individual agreement between FONDI and the individual.
In the individual insurance can join also the citizens who for the moment live abroad. In addition, if an individual wishes to save or contribute for another person this can be done but the accumulated assets in individual account belong only to the beneficiary of assets or the person for whom the individual account has been opened.
Contribution payment method
The insurant, pays (or the employer pays for him/her), the contribution each month after entry into this insurance. For people who are of 55 years of age and over, there are special conditions for their entry into supplementary pension insurance.
Individual account of the insurant
The insurants are opened individual accounts. These accounts will be managed by FONDI administration. The balance on individual accounts increases according to profits achieved by asset manager on financial markets of OECD states.
Pension plan of FONDI can be entered by persons of age allowed by employment law.
Monthly minimal contribution foreseen in Pension Plan of FONDI is:
For the employees not less than 30 euros monthly (with contributions from employer and employee)
For the unemployed not less than 20 euros per month
Assets paid individually are collected in individual accounts of the insurants and are considered owned in the same manner as in cases when the individual joins alone. The property over these assets is completely on the individual, except on cases when the individual pays for another beneficiary, then the beneficiary is the owner.
The insurant and FONDI enter into an entry contract in the form of Association. Entry contract contains all necessary data required for opening a personal account. The insurant is responsible for the accuracy of the data given in entry contract, also for accuracy of data that will be later given. FONDI has the right to check and verify the accuracy of the data given by the insurant or his/her employer. Through entry contract, the insurant acknowledges his/her awareness with this pension plan.
Entry contract between the insurant and FONDI contains this information:
Pension Plan Executor
Name and surname of the insurant and personal data
Clause that the insurance refers to voluntary supplementary pension insurance
Data about the contribution
Data about the start and end of the insurance period
Justification data in case of taking of purchase value in case of death of the insurant
Date of entry contract
Signature of entry contract by the executor and the insurant
All insurant data are saved as confidential data by FONDI and can be accessed only by the insurant.