CUL DE SAC – APS, St. Maarten’s general pension fund, looks back at 2016 as a year of major achievements, as it envisions several important initiatives in 2017. So says APS chairman of the board, Franklyn Richards, in reviewing the fund’s activities and operation over the course of the past 12 months.

Similarly to pension funds elsewhere, APS has had to address developments to safeguard securing future pension payments.

Throughout 2016, APS continued implementing phases of a carefully planned investment program, which is designed to safeguard the pension capital and generate a minimum rate of return on long term.

Richards notes that “2016 was a year in which, together with the Government of St. Maarten and union representatives, the fund explored the possibilities of pension reform”.

Regarding investments, he says that “APS embraced several new investment opportunities, amongst which, the Rainforest Adventures St. Maarten project, the acquisition of parcels of land next to the new government administration building and another parcel for an office park in the Philipsburg area”.

Additionally, APS officially started with the development of the Mary’s Fancy estate and Welgelegen housing projects, on two separate properties acquired in 2014 and 2015.

Inevitable reform

St. Maarten’s pension scheme has been under pressure for several years now, says Richards.

“We are facing a rapidly increasing life expectancy, dubbed as the financial crisis of this century -- as well as prolonged low interest rates. Result has been that many pension funds are now in trouble. St. Maarten’s APS pension fund is no different, where, for instance, our coverage ratio, guaranteeing the future sustainability of the fund, is below 100 percent”, says Richards.

Taking that into consideration, APS continues seeking and identifying various approaches to secure a sustainable and affordable fund and ideally create the possibility of having a coverage ratio above 100 percent.

According to the APS board chairman, “reform is inevitable if we want to continue to offer pensions in the future, to St. Maarten employees of government and government-related organizations”.

Throughout 2016, APS has actively been engaged in ‘doing the right thing for the client’ when it comes to securing present and future pensions.

The fund has considered several aspects as departure points for reform. These include a financially sustainable funding ratio of and above 105 percent and a lower and cost covering premium of around 18 percent.

The pension reform measures specifically look at the average pay pension system, pension based on average salary throughout one’s career instead of just the last 2 salaries and increasing retirement age to 65 years, with an option to retire at age 62.

Investment projects

With the acquisition of Mary’s Fancy estate, “APS has exercised its need to invest and at the same time contribute to cultural heritage preservation”, says APS chairman Franklyn Richards.

The first phase of the project entailed the restructuring the historic stone walls and the so-called Zaegersgut, creating a walkway alongside the stone wall, widening of the bridge and creating an exit road to the Gladiola road.

Phase 2 of the project is slated to start in the first quarter of 2017 and will focus on restoring the plantation house and the sugar mill.

With the Welgelegen housing project and other investments in the pipeline, “APS has responded to the urgent and ongoing need of affordable homes, among others, for young professionals”, says Richards.

About exploring the possibilities of establishing a mortgage bank, APS sees this as a realistic opportunity for its clients, who wish to purchase one of the affordable homes being constructed. “More importantly, this would be a way of investing in Sint Maarten and its people, over a long-term period”, says the APS board chairman.

APS is thus keenly interested in benefitting younger members of the fund, as they continue to contribute towards the fund and not have to wait until retirement age to see benefits.

Debt settlement

With respect to the payment of the debt owed by the government of St. Maarten to APS, for an amount of over 83 million guilders, 2016 did see significant developments pertaining to the debt settlement agreement between both parties.

The sale of a parcel of land, next to the new government administration building, for building parking facilities, is part of the agreement reached to reduce the total amount of monies owed to APS. With a value of just under 4.5 million guilders, the transfer of the parcel has been reduced to about 79 million guilders. This remaining amount will be settled with funds coming from the settlement of the division of assets of the former Netherlands Antilles and from the sale of the new government building to SZV, notes the APS chairman of the board.

2017 initiatives

APS looks towards 2017 with enthusiasm and with great confidence, says Richards.  Among the initiatives envisioned is the signing of a covenant on pension reforms between the government of St. Maarten, trade unions and the pension fund, APS.

Another agreement to be signed is the actual financing of pension reforms. That agreement would be signed between the government and APS.

With these and other initiatives expected for 2017, APS looks forward to an adaptation of legislation regarding the Pension Fund Ordinance St. Maarten, says the APS chairman of the board.

Looking back at 2016, Richards says that the APS organization “is grateful to those parties that worked with us in 2016, in our investments and projects, as we look forward to continuing successful working relationships in the coming year”.

He adds that “what we achieved in 2016 is also the result of many persons and organizations working together, in unison, to contribute to the pension fund – so that goals and milestones could be reached. I wish to express heartfelt gratitude to fellow members of the board, the management team, members of the investment and audit committees as well as the diligent APS staff through whom the pension fund will continue its service to its participants in 2017”.

PHILIPSBURG—It’s that time of year again for Firefly Family Fireworks to facilitate the “color and noise” with its annual firework sales, this year from a new location. The company, known for its safe re-sale of fireworks and strict adherence to regulations, will commence with the sale of fireworks on Thursday, December 29 from 12:00pm until 7:00pm. The sale of fireworks will continue on December 30 and 31 or until supplies last.

Sales on Friday and Saturday will run from 10:00am until 6:00pm. The brightly clad team will occupy a new location for its activities, moving away from the open area next to the Little League Ballpark. This year, the sales point will be on the Ring Road across from the Great Bay Sports Auditorium. The move offers more convenience for the public, a shorter walk and great visibility for Firefly.  Consumers won’t be able to miss the location as it will be decked out in bow-flags bearing the company’s branding.

Customers, who have to be 21 years of age or older to make a purchase, can expect some old favorites but also new fun products. Firefly has expanded its variety to include more 500 gram repeaters assorted packs. These are an array of fireworks that consumers need only light once and stand back to watch the show. The repeaters are perfect for consumers that want a big colorful display with the convenience of only having to light a wick once.

Firefly also provided many companies with bigger rolls of firecrackers to light on New Year’s day to signal the end of the year at their place of business. This has long been an Antillean tradition, now brought back by Firefly. These larger rolls are only on sale for companies. There are the smaller 1,000 slot rolls of firecrackers for the regular consumer.

There are also family/children friendly assortments available that include, but are not limited to, rockets of all sorts, sparklers of different shapes, roman candles and more. Firefly stressed however, that although some of its products are safe for minors to handle under adult supervision, no minor will be sold any fireworks. All fireworks of all shapes and sizes must be purchased by persons 21 and older.

Any company or individual consumer that wishes to contact Firefly can do so by calling Collins Arrundell at 5226099.

Black Market

Firefly Representative Michanou Arrundell has also raised the alarm over the sale of what she termed black market fireworks. She explained that it was brought to their attention that two unknown individuals were openly using Facebook (not under their real names) to advertise the sale of fireworks, encouraging people to contact them.

Arrundell said Firefly immediately notified the authorities about this situation which can become a dangerous one if fireworks are not sourced properly. She said Firefly is meticulous in following all requirements as laid down by law about the purchase, import and sale of fireworks. Others, she said, are not vigilant in this regard and this lack of responsibility could be life threatening.

Firefly is urging consumers not to purchase fireworks from any reseller who has not followed regulations. “You don’t know if they are old or new, you don’t know where they came from and therefore you don’t know if it is safe. With Firefly you know you are purchasing new, safe products that passed all screening and inspections. Do not put your life and that of your friends and family at risk,” Arrundell said.

PHILIPSBURG - Hon. Member of Parliament (MP) Frans Richardson, Leader United St. Maarten Party (US) issued the following Christmas Message late Friday evening.

My fellow Citizens,

The Christmas season is upon us once again and it’s a wonderful time of year.  We can relax and be with our loved ones, celebrate our faith and build on our spirit of generosity, one of the things that defines us as citizens of our island paradise.

The year 2016 has been an impactful one for the United St. Maarten (US) party and we are humbled by the support and well-wishes we have received from the people of St. Maarten. As we reflect and give thanks this season, we honor your support by looking forward to the new year, eager and committed to serve.  

Christmas gives us the opportunity to pause and reflect on the important things around us - a time when we can look back on the year that has passed and prepare for the year ahead. But the people of St. Maarten do more than look ahead at Christmas time, you give back. Our people has demonstrated once again that of all the joys of the season, perhaps none is more satisfying than the joy of giving.

Not just giving gifts, but giving and devoting their time to the less fortunate. It is truly an awesome spectacle to see the many organizations, foundations and individual persons giving the gift of time to their fellow man.   

To those volunteers and folks who possess such beautiful human spirits, know this; If nothing else, these selfless acts are more than sufficient in a season when we remember the Christmas story - the story about the birth of Jesus Christ, light and love, and the hope that he brings to all who follow him.

At this time of year, in particular, I find great hope in the Christmas story. “For unto us a child is born, a son is given, and he will be called Wonderful Counselor, Mighty God, Everlasting Father, Prince of Peace.”

May you enjoy the spirit of Christmas, wrapped in your cultural traditions and the timelessness of family, friendship and faith. On behalf of my family and my extended USp family, we wish one and all a very Merry Christmas and safe festive season.

PHILIPSBURG – On Friday, the Department of Communication (DCOMM) issued the following Christmas Message from Prime Minister William Marlin.

Fellow St. Maarteners, Residents of our beautiful island

It is that special time of the year again when we gather together as family to celebrate the birth of the Redeemer.

Christmas is, indeed, a time for family. And nothing brings family and friends together like the birth of a child.

All the positive attitudes of our humanity are expressed and exemplified in the spirit of Christmas. The spirit of giving without expecting anything in return; the joy and happiness as well as the togetherness we find in merry-making and above all the love we share with our neighbors and fellow men, regardless of their station in life.

No one is supposed to feel lonely at Christmas. No one is supposed to go hungry. Every child looks forward to receiving gifts during this season, whether they behaved well throughout the year or not.

There is Jollification in Christmas. Traditionally, we cook up a storm, not just to feed ourselves, but all those who pass by our homes.

We even send food to friends and relatives, and share with our neighbors, not because they have nothing to eat, but because this is the way we express our sense of belonging.

We open our homes and our hearts to others without feeling vulnerable because of the mystery and marvel in the manger where Christ was born.

That story about the child Jesus teaches us that the circumstances of our birth do not define us, that our destiny is not tied to where we were born but who we were born to be. It tells us that we should never look down on a person because of their humble beginnings but look to lift up everyone to where they truly belong.

The spirit of Christmas is, therefore, not a one-day feeling; it is not a seasonal event but a permanent injunction for us to be our brother’s keeper.  Charles Dickens said, “I will honor Christmas in my heart, and try to keep it all the year.” This should be the mantra for all of us.

Christmas is a gift, and as Pope Francis put it, “God never gives someone a gift they are not capable of receiving. If he gives us the gift of Christmas, it is because we all have the ability to understand and receive it.”

I pray that you will receive this gift with humility, and understand the message that comes with it. May the love, joy and peace that Christmas brings be with you and your loved ones throughout the year.

On behalf of my wife, Gabrielle, my children, Ohndhae, Ihndhira, Ighmelene and Hakeem and my entire family, and also on behalf of my Cabinet and the new government of St. Maarten, I wish you and your family and friends a very Merry Christmas. Happy Holidays!

God bless you. And God bless St. Maarten.

Prime Minister William Marlin: Christmas Message to Civil Servants and Government Workers

It is Christmas time again and nothing fills us with more hope, with a sense of family than this season of light, this season of joy and celebration, this season of praise.

The civil service corps is part of that larger St. Maarten family that seldom gets praised nor recognized for the work they do.

No government can function effectively without an efficient and dedicated civil service corps. Yet for all your hard work and commitment you, our civil servants do not always get the respect you deserve.

I, therefore, take this opportunity to say a big thank you to all our civil servants and government workers for your contribution throughout the years.

We often speak of stability in government, yet the only guarantee of that stability is a well-prepared, committed and professional civil service corps.

Whatever achievements any government can boast of can be attributed in large part to the consistent productivity of the civil servants who have to advise on, prepare and execute most of the policies government wants to pursue.

As the backbone of the St. Maarten government administration, you must be proud of your invaluable contribution to the progress of our island, in spite of the well-known financial and other constraints you have had to deal with and still have to face in these lean times.

I am proud of each and every one of you and wish we could do more to reward you for your labor of love.

Let me borrow the words of US novelist, journalist and humorist, Oren Arnold, who famously gave the following Christmas gift suggestions:

 “To your enemy, forgiveness. To an opponent, tolerance. To a friend, your heart. To a customer, service. To all, charity. To every child, a good example. To yourself, respect.”

On behalf of the entire Council of Ministers and myself, I wish you a very Merry and Joyous Christmas.  Happy Holidays! Enjoy the treats; enjoy the gifts; go easy on the guavaberry and the sorrel but above all enjoy your family.