PHILIPSBURG:— The General Audit Chamber submitted its report entitled Compliance audit: 2017 Financial Statements of the General Pension Fund Sint Maarten (Algemeen Pensioenfonds Sint Maarten – APS) to Parliament on April 8, 2019. The report addresses findings and conclusions resulting from the review of the pension fund’s financial statement of 2017.
Although APS’ coverage ratio is 103.1% at the end of 2017 (2016: 99.6%), the fund’s financial health is not optimal. Its financial capital is still insufficient to cover general and investment risks. The report explains that the increase of the coverage ratio from 99.6% in 2016 to 103.1% at