Cft: Pension scheme reform national civil servants point of interest

January 13, 2009 4:49 AM

The College financial supervision (Cft) reported on the 2009 budget of the Land Netherlands Antilles this week. The Cft decided that the budget meets the standards to a satisfactory extent, but that a number of issues need to be improved. The most important point of interest is the intended reformation of the pension scheme for national civil servants.

The standards as laid down in article 15 of the Decision Temporary financial supervision Netherlands Antilles, Curacao, and St. Maarten, have for the most part been met. The criteria is to have a balanced budget not exceeding the interest standard. 
The International Monetary Fund (IMF) has already shown to be positive towards the development of the Land’s finances,provided it complies with certain crucial conditions, including the reconsideration of the pension scheme, states the Cft in a press release.

“The revision is especially necessary for guaranteeing the tenability of the pensions on medium- and long term. The Minister of Finance himself has already indicated that the necessary measures have already been set in motion in order to realize this and the Body advices the Land to concretize these measures with drive. The Cft requests an action plan for this, in which a time schedule is also included – for further deliberation with the responsible bodies for example – and an elaboration of the financial consequences of the plan.”
The Cft has also urged to improve the required insight into the budget and also made other arrangements with the Land, who in her turn has also indicated that they won’t take out any new loans with reference to the intended dismantling.

Cft will soon report on the 2009 budgets of Curaçao and St. Maarten which were recently presented to the Body. Both budgets have already been decided on by the respective Island Councils. The Governing Body of Curaçao later submitted a concept supplementary budget with amendments, as well as the original one to the Cft.

(Source: National newspaper Amigoe)

8 January, 2009