Pension Fund

The Albsig Voluntary Pension Fund is an alternative to adding income to the guaranteed state pension. It is a defined contribution scheme. The fund is created to solve the problems of the state system, where as a result of increasing life expectancy, it does not provide sufficient income to a large part of the population during the retirement age.

The fund is addressed to clients with a low-risk tolerance. The fund invests mainly in long-term government bonds of the Republic of Albania. 

Please see the section: Benefits of Membership from the Pension Fund, to be informed about the advantages of joining the Albsig Pension Fund

Type of Plans

Professional Plan: The professional plan is opened by an employer where the employer and the employee contribute together to the account opened for the employee.

Individual Plan: The individual plan is opened by an individual where she/he contributes to the desired extent.

Contributions to the Pension Fund

Payments will be made to the account number of IBAN AL76 2061 1004 0000 1003 2114 7100, opened at the depository bank, Banka Tirana Sh.a, 

The Management Company converts the contributions invested in the Fund into a pension quotas or units. Each pension unit represents a proportional share of ownership in each of the Fund’s assets. The total value of the units in the Fund is always equal to the total net asset value of the Fund( Net asset value consists of the total value of assets reduced from deduction of liabilities and fees).

Example of buying a pension quota:

If after a certain period the unit price would increase to 1,600 Lekë, the value of the member’s assets will be equal to 2 (units) x 1,600 ALL = 3,200 ALL.

When a member of the Fund temporarily or permanently interrupts the payment of the contributions, he remains a member of the Fund with the same rights as the other members of the pension fund.

Prospekt PDF

Fondi i Pensionit Vullnetar Albsig

Prospekt PDF

Prospekti i Përmbledhur

Investment Policy

The fund will invest mainly in long-term bonds of the Republic of Albania. An important element that accompanies the investment for retirement is the long duration.

The main elements of investment policy:

  • Objective: Optimizing the rate of return while maintaining the principal;
  • Risk Tolerance: Low;
  • Investment Horizon: Long-term (10-30 years);
  • Liquidity: Low. 

Investment Strategy: The Fund will pursue a long-term  investment strategy. The fund also has low liquidity requirements considering the duration of long stay in the fund and periodic inflows from automatic payments of professional and individual plans.

Pension Benefits

Accumulated assets can be withdrawn in the following forms:

  • Immediate lump sum payment of all the asset value or of a partially accumulated value;
  • Planned periodic payment in the form of a pension;
  • Use the accumulated amount to buy an “annuity”;
  • Combination of the ways cited in points 1, 2 and 3 as above.

Each member of the Fund has the right to receive the amount accumulated in the forms presented above when he meets the following conditions:

  • When you reach the retirement age provided  in the social security law;
  • 5 years before reaching the retirement age provided  in the social security law;
  • When he becomes permanently incapable of work and who is certified, in accordance with the legislation in force.

    Early Withdrawal

    In case of early withdrawal(not meeting the criteria listed above), the Administrative Company according to the law will apply penalties which will be calculated on the net asset value and more specifically:

    • 2% (two percent), for each early withdrawal made after 20 years from the date of the first contribution;
    • 5% (five percent), for each early withdrawal made in the period of time beginning after 10 years from the date of the first contribution to 20 years from the date of the first contribution, including the 20th year;
    • 10% (ten percent), for each early withdrawal made in the time period beginning after 5 years from the date of the first contribution to 10 years from the date of the first contribution, including the 10th year;
    • 15% (fifteen percent), for each early withdrawal made in the time period up to 5 years from the date of the first contribution, including the 5th year;

    In the event of the death of a Member, the penalty for early withdrawal shall not apply.

      The Management Company will apply the following fees:

      • The Fund’s administration fee will be 2.5% (two points five percent) per year of the net asset value of the Fund;
      • In the case of transfer of assets from the Member to another Fund managed by another Management Company, the fee to be applied will be 0.5% (zero five percentage points) of the transferred amount.