Cay Hill:--- Algemeen Pensioenfonds Sint Maarten (APS) has taken additional measures to secure the sustainability of the pension fund. These measures include the lowering of the pension fund’s actuarial interest rate from 3.75% to 3.5% and lowering the accrual percentage for participants from 2% to 1.75%. The COVID-19 pandemic has had an extensive adverse effect on the international economy, significantly lowering interest rates worldwide. Consequently, like many other pension and insurance funds, APS must adjust its rates to curtail the effects. These changes went into effect as of January 1, 2021.
APS will be informing participants and ...
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