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Recently, there has been a lot of discussion about pensions and the crisis that the pension scheme in Albania is going through.
The state pension, due to some factors, does not provide sufficient income to cover living costs. Therefore, many experts, including the Bank of Albania, are talking about additional schemes.
The CEO of "SIGAL UNIQA", Mr. Avni Ponari, also spoke about this topic. Invited to the show "Pro Business" on Klan Plus, he also gave an option on how to solve this crisis: combining the state pension with the one he receives privately.
According to him, this makes the benefit amount satisfactory for pensioners and corresponds to living costs.
Avni Ponari: Many companies and many individuals are approaching very quickly and creating their values for the pension and this is a very good guarantee because if in the state you have a pension of 20 thousand new lek and you will receive 400 or 500 in private, so your pension is 700 thousand ALL (old) in total all together. So creating this incentive and creating this system like that makes it possible for you to get a certain value. Albania is one of the few countries that does not have the second column of investments. Which means, the state except
Social Security, which is 27% paid from salary, then this 27 is divided into 25, for example, you will go to Social Security and 2% are mandatory to go to a private pension scheme. So this is a very big stimulus, a big boost and a relief of the burden on the Social Security system.
Mr. Ponari also gave an example of how the mandatory private pension can be included by dividing it into two parts.
Avni Ponari : The current scheme has shortcomings. And from what I have heard it is said that it does not work because in Albania there are 700 thousand pensioners who receive the pension and there are 700 thousand employed. So the ratio is 1 to 1. Then, being this ratio, all over the world it is 1 to 2, to 3 to 4, so 4 work and 1 receives a pension. We do not have this scheme. This scheme should have been put in place 20 years ago or 30 years ago. This scheme, which divided the mandatory insurance into two parts, voluntary insurance 2%, 1%, 1.5%, then citizens can supplement this 2% with other money to get a higher pension. There is one thing that the Institute of
Social Security wants to be the main weight, so that all the funds go to it, but the kindness of the Institute, the Ministry of Finance, and the Government clearly define it by law and they do. So North Macedonia is with this scheme, Montenegro is with this scheme, Bosnia and the countries of the Region are almost all with this scheme. Other countries around us are also with this scheme, as these are more efficient and create opportunities for every person to have a normal pension and good living conditions. In Germany, for example, people invest in 2-3 funds".
Part of the show were also two citizens, who are currently receiving the fruits of investment in the private pension.
Merita and Shkëlqimi, who retired today, express their satisfaction with what they receive from the "SIGAL UNIQA Invest" fund.
“I have been familiar with the Sigal Private Pension Fund since 2016-2017 and liked it as a way to secure something more for my pension in the years to come, which are coming so quickly. In 2018, with the support of the institution where I worked, I became a member of the private pension fund. Which I think I should have started much earlier than I did that year. I also read a lot about this part. I got in touch with Sigal specialists who worked in this field, who explained and convinced me that it was something very useful and necessary for people, especially when it comes time for retirement", says Merita Pulla - Pensioner, for the "ProBusiness" show. Former Economist.
Even Shkëlqim Arizi talks about the help that the private pension gives him to meet living costs.
"Pensions that are granted by the state on the basis of Social Security contributions, are insufficient to be honest in what we are talking about. They are insufficient to face the costs of age, the problems of age, even more so to enjoy any pleasure that age has. Through my friends who live abroad, specifically in Greece, they showed me the private pension scheme there and this convinced me to become a client of the private pension fund. I became a client of the Sigal pension fund, the procedure was very simple, with these documents as an ID card, the actions were done right there in the office. Then I made the first investment in the Bank, the first money that I could think of, then I made payments to the Bank periodically according to my possibilities. I've been pretty active all those years I've been contributing."
In any case, the amounts not withdrawn for various reasons are the property of the legal heirs.
"From the moment we got to know the fund, one of the points was that we could inherit our children's pension in any case. And in the first contract I made with the Sigal company, I put my daughter's name, so that she would inherit everything when the time came that I would no longer be able to take it ," says Merita Pulla.
Thinking about retirement is not a matter to be put off. Any amount, however small, invested early in a private pension fund can make a big difference in the future. This gives you peace of mind and the opportunity to enjoy your golden years without financial worries.
Don't put off this important decision. Start thinking about your private pension today and ensure you have a stable and secure financial future.
Think about your financial future today
Consult the experts of "SIGAL UNIQA Invest" by writing now to:
E-mail: [email protected]
Or by calling: +35544511666
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