Albania sees rise in private pension market in first half of 2017

TIRANA, Aug. 14 (Xinhua) -- The voluntary private pension market in Albania saw an annual growth of 13.46 percent in the period January-June 2017 compared with the same period of last year, Albanian Financial Supervisory Authority (FSA) informed Monday.

In its analysis, FSA said that Albania's voluntary private pension market hit total net assets of 1.5 billion lek (13.3 million U.S. dollars) at the end of June.

According to the authority, three voluntary private pensions' funds operated in Albanian private pension market during the second quarter of 2017.

And the number of members in the three private pension funds also increased by the end of June, going up nearly 12.7 percent year on year to over 19,000, said the authority.