Cayhill, Sint Maarten, 14 July 2020, The pension reform legislation has been approved by Parliament, effective July 1, 2020, a positive development that will introduce important changes to secure the sustainability of the pension system for the future. The most important changes in the pension reform will be addressed via ZOOM video meetings, with two options to attend and ask questions on Thursday, July 16, from 1:00 pm – 2:30 pm or Friday, July 17, from 3:00 pm – 4:30 pm. The video meetings will be hosted by the General Pension Fund of Sint Maarten (APS) and the Government of Sint Maarten. All persons who have a pension plan with APS are asked to register for the video meetings by going to www.apsxm.org/webinar.
The previous information sessions about the pension reform were hosted by APS in January of this year. Some changes to the pension scheme include; the retirement age from 62 to 65, the pension pay from final to average pay, pension accrual from age 18 instead of 25, indexation, etc.
APS and Government have jointly prepared a video presentation about the pension reform where the changes are explained. The video will be made available on the website of APS (www.apsxm.org), the Government website (www.sintmaartengov.org), and social media. See https://www.facebook.com/watch/?v=203912981032018
An information leaflet about the pension reform effective July 1, 2020, is available via APS. This leaflet has also been distributed to the employers of APS participants to present to their employees.