St. Maarten. General Pension Fund Administrator signs agreement for Pension Reform Financing
Actual pension reforms in St. Maarten are one step closer to being implemented following the signing of an agreement between the general pension fund administrator APS and St. Maarten’s Finance Minister Richard Gibson, Sr.
The agreement was signed at Sonesta Maho Beach Resort on Friday as a major highlight of the APS 2017 pension seminar held at that venue. Signing on behalf of APS were APS board officials Franklyn Richards and Guilliano Saturnilia.
“The agreement reached between St. Maarten’s general pension fund APS and the country’s Minister of Finance is part of the process on pension reform, which has been ongoing,” said APS board chairman Richards. He added that the agreement specifically takes into consideration the need for structural changes to the pension plan that would make it more sustainable.
This latest agreement contributes significantly to the overall sustainability of the pension fund – one of the drivers of the pension reform initiative, according to Richards. The signing of the agreement comes after several aspects related to the pension reform project have been mutually agreed on.
Full Content: The Daily Herald
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