Philipsburg – 8 aug,2012 APS, the administrator of the pension fund for civil servants, teachers and employees of government-related organizations on Sint Maarten, will soon begin with the release of annual pension specifications for its members. The annual pension specifications are those which participants in the APNA fund would have been accustomed to receiving from APNA. APS is clarifying that participants referred to are the active members of the APS fund. These are, for example, those employees who were still in service of an employer on Sint Maarten, as per October 9, 2010.
This last specification from APNA will provide participants with an overview of the accrued pension through October 9, 2010. The specifications will be distributed via the personnel departments of the various employers. With this approach, APS strives to facilitate immediate access to information.
APS is reiterating the importance of clients reviewing their information in a timely manner, since a limited amount of time is being made available during which the client may file an appeal against the information provided to them.
The process of dismantling APNA (general pension fund of the Netherlands Antilles) is meanwhile still ongoing. As part of this process, an inventory is taking place of the assets and liabilities of the former APNA. The assets and liabilities are being distributed among the three pension funds that were established as the legal successors to APNA (APC, PCN and APS). Once the division of assets and liabilities is completed, APS hopes to inform all clients regarding the exact amount they have accrued in pensions through October 9, 2010.