The Caribbean Pension Funds Association, CaPAs, was officially established on Curacao on May 29, 2015
WILLEMSTAD - Seven large local pension funds have taken the initiative in the past months to establish a pension fund association, the Caribbean Pension Funds Association, or in short CaPAs. The pension funds who came together for this goal are the Algemeen Pensioenfonds van Curacao (APC), Algemeen Pensioenfonds van Aruba (APFA), Algemeen Pensioenfonds van Sint Maarten (APS), Pensioenfonds Caribisch Nederland (PCN), the pension funds of Maduro & Curiëls Bank (MCB) and Caribbean Mercantile Bank (CMB) en Stichting pensioenfonds Vidanova.
Pension funds are confronted with major challenges with respect to, amongst others, demographic developments, low interest rates on the local and international capital markets and the volatility in the international financial markets.
By cooperating with each other in a pension fund association, the pension funds aim to promote mutual co-operation in order to cope with these challenges and to discuss the relevant topics with the several stakeholders.
The daily board of the new association is formed by APC’s CEO Evelyn S. Kruithof-Bor as president, Sheila van Veen, CEO of APFA, as vice president and Clementine Wallé, CEO of MCB pension fund as treasurer.
CaPAs will focus on recruiting new member funds and organizing courses and seminars with relevant partners in the sector. The pension funds were assisted with the establishment by the pension experts of Montae Caribbean, which is also responsible for the secretariat of the new association.
The representatives of CaPAs can be reached by e-mail via the address: email@example.com.
Photo caption: CaPAs president Evelyn S. Kruithof-Bor and treasurer Clementine Walle signing the articles of association of the new pension association at the offices of Burgers & Fung-A-Loi Notarissen (notary).