摘要：Pension system in Kosovo has experienced various developments in the last three decades. These changes have been driven by both, political and economic developments. The political developments were most important, especially that the previous system failed due to the lack of access to the fund in the post-war Kosovo. The newly established system in post-war Kosovo continues its operations with principles of modern pension fund, savings-based. KPST was established by Law in December 2001 as a not-for-profit institution. As such, the sole objective of KPST is to serve only the best interests of its contributors. KPST is funded in a similar way as are all defined contribution pension funds i.e. by charging fees on assets under management (pension assets). KPST is funded in a similar way as are all defined contribution pension funds i.e. by charging fees on assets under management (pension assets). Throughout this discussion paper, the implications of the crisis, management, asset management issues and most importantly, investment strategy are discussed and some potential solutions to these problems are proposed in order to increase the flexibility of the fund to improve performance in times of crisis.
关键词：Pension; Pension Fund; Public Pension Funds; Investments; Public Debt
