Apna close St. Maarten office July 1POSTED: 06/29/12 12:58 PM
St. Maarten – The General Pension Fund Netherlands Antilles (APNA) will officially close down on July 1. The closure comes after 73 years of services rendered to the civil servants and pensioners of St. Maarten. It is brought on because of the dismantling of the Netherlands Antilles.
“We are grateful to our officers, Mrs. Marelva Daniels and Mrs. Yolande Arrindell who for so many years has served APNA and civil servants and pensioners on St. Maarten so well. We are also grateful for having been part of the St. Maarten community, and hope to be able to continue strong ties with this community in the future,” a release states
On October 9, 2010 – the day before the Antilles ceased to exist – Apna had 22, 900 members – 11, 400 active members, 3, 200 members free of contribution obligation and 8, 300 pensioners. The agency also had a total capital of 4.343 million guilders.
Ahead of the dismantling Apna divided the total assets and pension obligations between Netherlands, St. Maarten and Curaçao according to an allocation key. The allocation key takes into account the share of a country in Apna’s estate of based on the relation between the sum of the pension reserve as per October 9, 2010 of all the participants that upon October 10 pertained to that country and the total pension reserve of all participants of Apna as per October 9, 2010.
Apna’s total assets have been divided and paid out to St. Maarten and the Netherlands in the amount of 291, 594, 000 guilders and 241, 607, 000 guilders respectively. Upon finalizing the estate balance sheet as of October 9, 2010 the final division and transfer of assets of Apna to St. Maarten and the Netherlands will be completed.
The countries St. Maarten, Curaçao and the Netherland instituted their own pension fund for civil servants. The allocation of the Apna participants to the respective pension funds of the new countries is also completed. By agreement between General Pension Fund St. Maarten (Algemeen Pensioenfonds van St Maarten (APS)) and General Pension Fund Curacao (Algemeen Pensioenfonds van Curaçao (APC)), the latter pension fund continued providing pension administration services and services with regard to the pension payment to APS. Since January 2012 APS is providing full services to its participants, thereby concluding the services of APC to APS.