PHILIPSBURG–Franklyn Richards will remain chairman of the general pension fund administrator APS board for another two years, thanks to his reappointment to the position in accordance with an advice from Finance Minister Michael Ferrier and the APS board.
Governor Eugene Holiday reappointed Richards as independent chairman of the APS Board.
The APS board said in a press release on Wednesday that it is “pleased” with the reappointment, which it said recognises the chairman’s “continued leadership” in carrying out the fund’s strategy of pension reform, innovation and local investments in support of the development of St Maarten.
Richards is a former Lieutenant Governor of the former island territory of St. Maarten and has held several senior management and supervisory positions in the public and private sectors.
APS, which manages the pensions of about 2,600 active participants, more than 1,000 pensioners and 700 deferred participants, was established in 2010, with Richards appointed as its independent chairman in 2012.
In the absence of the chairman, the board is chaired by Guilliano Saturnilia, who was appointed Vice-Chairman of the board as of September 2017. Saturnilia is a member of the APS board nominated by the Civil Service Consultative Committee GOA.
“APS is appreciative of the high regard the pension fund enjoys among all its stakeholders. These are the representatives of employers and employees, supervisory authorities and the government,” APS said.
It said it will continue a path of providing “top notch” customer and employer services while supporting the implementation of the pension reform in cooperation with Government. The board decided recently, after the devastation of Hurricane Irma, to accelerate APS’ ongoing housing development projects. “The fund is committed to undertaking new projects to relieve the housing shortage [in – Ed.] St. Maarten through investments in affordable quality homes,” the release continued.
“Our mission is first and foremost to provide adequate financial security to our participants and their families. We have to invest the contributions that employers and participants entrust to us profitably and at acceptable risks to accomplish this mission.
“At the same time, we realise that we have a role to play in supporting the local economy through our investments. APS can demonstrate its strong commitment to St Maarten and its citizens by playing an active role in rebuilding the island after the hurricane,” Richards said.
The appointments of Richards and Saturnilia “guarantee” that APS has a secured strong leadership to successfully address the future challenges for retirement provision in St. Maarten, it was stated in the release.
Source: The Daily Herald https://www.thedailyherald.sx/islands/75141-richards-reappointed-aps-board-chairman
View comments
Hide comments