PHILIPSBURG:— In 2010, Management and Union signed a protocol to change the pension scheme from last pay to average pay. Vida Nova made a new policy that governed the transfer of the participant’s pension right from last pay to average pay.
This change was documented in the CLA which was negotiated between Management and the Union. It clearly stated that all employees starting in January 2010 would now be covered by the average pay scheme.
In 2016 The Island of St. Maarten has rectified the AOV pension age from 60 to 62 years old. Our CLA states that the