CAY HILL--The pension reform legislation has been approved by Parliament, effective July 1, 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 hosted by the General Pension Fund of St. Maarten APS and the government of St. Maarten.
There will be two options to attend the virtual meetings and ask questions: Thursday, July 16, 1:00-2:30pm; or Friday, July 17, 3:00-4:30pm.
“All persons who have a pension plan with APS are encouraged to register for the video meetings by going to
www.apsxm.org/webinar,” APS announced in a press release on Tuesday.
The previous information sessions about the pension reform were hosted by APS in January. Reforms to the pension scheme include changing the retirement age from 62 to 65, the pension payment calculation 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,” said the release.
The video will be made available on the APS website
www.apsxm.org, the government website
www.sintmaartengov.org and on social media.
An information leaflet about the pension reform effective July 1 is available via APS. This leaflet has also been distributed to the employers of APS participants to present to their employees.