VidaNova (formerly SPU), is a foundation whose beginnings date back to April 25th, 1968. In November of that same year, the Public Notary, Dr. Jacob Schiltkamp, passed a deed to transfer the assets from Stichting Pensioenfonds OGEM Nederland BV to the local foundation. The total assets on that date amounted to ANG.4.8 million guilders.

In 1977 VidaNova became an independent entity from the founding company OGEM, and since then, VidaNova has had its own Board of Trustees.

VidaNova complies with all legal and fiscal requirements for the Netherlands Antilles as set forth by ordinance P.B.1985 no.44. Furthermore it is supervised by the Central Bank of the Netherlands Antilles as mandated by law for the management of all private pension funds.

At Premium contributions as well as investment fund management is VidaNova's primary source of employee-retirement income. At the moment, it is sponsored by nineteen (19) private and quasi-public utility employers for the Netherlands Antilles. The foundation was set up to administer plan assets and benefits, the purpose of which, is to encourage employees to build long-term careers with VidaNova's affiliates by providing eligible employees with the long-term financial security needed for their retirement years.

As of December 31, 2005, the plan covered 1,758 active participants; 330 participants with rights to postponed pensions; and 465 individuals receiving pension remittances totaling 2553 participants. The number of plan participants and pensioners has been growing slightly in recent years and is expected to remain steady or slightly increase during the next three to five years. Growth in plan participants is expected primarily through new applications for membership by constituent employers and through active marketing of new clients / sponsors. VidaNova can administer both Defined Benefit DB (final pay, average pay and fixed amount) and Defined Contribution DC Pension Plans, depending on the specific needs of the client.

A commitment to premium payments as a percentage of eligible employee payrolls or the pension base PB is a requirement of each participating company. Company's as well as employee's contributions are made on the basis of their "pension base" or the annual yearly salary from which a discount (franchise) is deducted. While benefit guidelines have been expanded in recent years, the average age of fund participants is still relatively young. Benefits for eligible employees are paid by the fund to retirees; disabled participants; and, in the event of death, surviving family members (inclusive of widowers or partners, and orphans).

The following companies participate in the Plan as of December 31, 2005 :

  • Aqualectra Distribution
  • Aqualectra IUH
  • Aqualectra Production
  • Curgas N.V.
  • Eutel N.V.
  • GEBE N.V.
  • Geus
  • UTS N.V.
  • Telem N.V.
  • WEB Bonaire N.V.
  • Telbo N.V.
  • Bonaire Management Group (BMG)
  • Autobus Bedrijf Curacao N.V.
  • Curacao Utilities Operating Company N.V.
  • Fundashon pa Maneho di Adikshon (FMA)
  • Satel NV
  • USONA (Uitvoeringsorganisatie Stichting Ontwikkeling Nederlandse Antillen)
  • PayTel N.V.
  • Consulate General of the United States of America

VidaNova utilizes private companies for assistance and support on a professional basis in different areas like De Sola & Kluyver, Ernst & Young, PENAD Actuaries, UBS Financial Advisors and KPMG. VidaNova also has agreements with several investment managers and banks in the USA as well as in the Netherlands Antilles to manage part of the total VidaNova investment portfolio. Furthermore, VidaNova holds the prestigious ISO 9001-2000 certificate and offers up-to-date and expert pension management as well as other administration services.

Please click here to view VidaNova's quality system

It is possible to accommodate companies' and participants' requirements in the pension plan based on their specific needs as long as these plans are approved by the fiscal authorities in the Netherlands Antilles and financially viable. In addition, VidaNova offers mortgage loans for their participants with attractive interest rates and long term finance opportunities of up to 25 years; and commercial loans on a selective basis. VidaNova also acts as a broker for both risk and damage / storm insurance coverage.

 
     
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