APS is a self governing entity (in Dutch “zelfstandig bestuursorgaan – ZBO”) and forms part of the portfolio of the Minister of Finance of Sint Maarten. APS was established by law as of October 10, 2010 and is one of the three legal successors of Algemeen Pensioenfonds Nederlandse Antillen (APNA). The law that governs APS is national ordinance “Landsverordening APS”. The Dutch version of this ordinance can be viewed on our “Downloads” page.
APS falls under the jurisdiction of the Minister of Finance and is headed by a board of directors consisting of five individuals. Three of the board members are nominated representatives of the following entities:
(1) The joint consultation body for civil servants, G.O.A.
(2) The Corporate Governance Council (CGC).
(3) The pensioners’ association.
(4) The other two board members are appointed by the Minister of Finance.
APS has an investment committee consisting of three members which contribute to the formulation of our investment policy and advises on investment opportunities for the fund. Board and investment committee are appointed to their positions by the Minister of Finance. The APS board is comprised of an independent chairman of the board and four other members.
Our Board of Directors
The Board of Directors is end responsible for the APS fund and operations.
The Board consists of five individuals who – as per the “Landsverordening APS – are all appointed by the Minister of Finance. The Board consists of five members of which one is an independent chairman who is nominated by his peers on the APS Board. Each of the other Board members are nominated by the following entities:
- the Minister of Finance;
- the Corporate Government Council;
- the “Georganiseerd Overleg in Ambtenarenzaken”;
- the Sint Maarten Seniors and Pensioners Association.
Board members are appointed for a period of five years after being vetted by the Central Bank of Curacao and Sint Maarten.
Our Investment Committee
Conform the national ordinance APS has an Investment Committee which consists of three individuals of which one is the chairman. The committee advises the APS Board of Directors on the overall investment policy and guidelines as well as individual investment opportunities. Investment Committee members are nominated by the Board of Directors, but appointed by the Minister of Finance. Members are experts in the world of finance and investments and have relevant work experience.
The Investment Committee is subject to the checks by the Central Bank of Curacao and Sint Maarten.
The daily operations of APS are managed by a two member Directorate consisting of a director and an adjunct director. The Directorate reports to the APS Board.