Vidanova celebrates 45th anniversary

WILLEMSTAD - Pension Fund Vidanova celebrated its 45th anniversary last Thursday. The pension fund experienced a considerable growth since its foundation in 1968.

Vidanova started in 1968 with eight participating companies, 421 insured, one pension plan and a pension capital of 4.8 million guilders. The pension fund now has 50 participating companies, manages twelve pension schemes, and has a capital of 724 million guilders, 624 million guilders on pension commitments and a reserve worth 89 million guilders.
Through the years Vidanova’s cover percentage never dropped below the 100 percent cover required by the Central Bank. The cover percentage was 114.9 in 2012. The average return was 7 percent and the pensions were indexed with an average of 2 percent per year since 1988.
The pension fund was founded in 1968 and began its activities under the name Stichting Pensioenfonds for the Antillean Energy Companies (SPDAE). The first participating companies were Curaçao Electric Company, NAGM, Elga, Elmar, Electricity Company Bonaire and Gebe St. Maarten, St. Eustatius and Saba. In 1991, the name of the fund changed to Stichting Pensioenfonds Utiliteitsbedrijven (SPU), so that other companies in the telecommunication sector could accede to the fund.
In 2002, the name was changed to Stichting Pensioenfonds Vidanova, thus allowing other companies to join the fund.

Lawyer Brooks appeal presumably in October

PHILIPSBURG--The appeals against attorney-at-law Brenda Brooks’ conviction of bribery charges, will most likely be heard by the Joint Court of Justice in October, it was said Thursday.

2019 Tax law books

DC Tax & Legal will publish the 2019 tax law books for the jurisdictions Sint Maarten, Curaçao, Aruba and The Caribbean Netherlands.

St. Maarten Airport’s cash shortfall is US $1.2M per month

PHILIPSBURG - Princess Juliana International Airport’s (PJIA’s) financial crisis is deepening and the airport has no funds to pay its February salaries next week.