Fatum Pension & Business Day 1 June

June 01, 2011 11:39 AM

The ageing is increasing worldwide at a great pace. Families have fewer children and the balance between employed and unemployed is dropping.

This has an adverse effect on pension schemes. Reformations to guarantee the affordability of the social system are needed urgently, says Fatum, motivating the organization of the Sixth Pension & Business Day that will be held Wednesday afternoon from one-thirty in the Hyatt Regency Hotel.

The theme of this free event is ‘Our social surety system in five years’ time’. In a press report, CEO of Fatum, Steven Martina speaks of the importance of this day. “Curaçao must work towards a regulated, compulsory pension scheme for all employed persons. Only then can one guarantee that everyone by law saves for a pension, guaranteeing retirement with a good life quality. The ideal pension amounts to 70 percent of the last enjoyed income. The current AOV-scheme only provides for a minimum basic income. The difference should be produced during the productive years of the employee. One could save extra now, but people are not making sufficient use of this possibility yet. A legal compulsory scheme where the employer and employee save for the retirement of the employee could solve this problem.”

Martina: “It is sad to see that often people only realize once they’ve reached their retirement age, they have not saved enough to maintain the same quality of life during their old age.” Large companies often try to contribute, but especially in the MFK and with one-man businesses, groups that form an important pivot of the Curaçao economy Martina sees an alarming low pension density.

Everyone who is interested in the theme of pensions, and in particular the actors within the pension system, such as board members of pensions funds, HRM-managers, insurance agents, policymakers within the government and representatives of employers and employees, are most welcome on Wednesday. Various speakers will talk about their vision and experiences in the field of the theme pensions – including Minister-President of Aruba, Mike Eman. As of January 1st 2012, Aruba will introduce a similar compulsory pension system – a system that Fatum will labor for on Curaçao.

Another speaker will be Guillermo Larrain. He is considered a pioneer in the field of pension reformations at international level. Chili, the homeland of Larrain, is one of the leading practices when it comes to the pension reformations.

Confirmation of participation with the free Fatum Pension & Business Day is desirable and can be arranged via website www.fatum.com of via telephone number 777-7126.

31 May 2011