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 thirty (31) 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 September 30, 2007, the plan covered 2,173 active participants; 349 participants with rights to postponed pensions; and 534 individuals receiving pension remittances totaling 2553 participants. The number of plan participants and pensioners is growing. In 2007 the growth rate was 22%. It is expected that this trend will continue in the coming 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 currently administers four Defined Benefit DB (final pay, average indexed pay) and eight Defined Contribution DC Pension Plans with premium percentages starting from 6% up to 16%, 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 fund also tries to index all pensions on a yearly basis based on the returns of the pension fund.

The following companies participate in the Plan as of September 30, 2007:

  • Aqualectra Distribution
  • Aqualectra Distribution
  • Diesel Production
  • Aqualectra IUH
  • Aqualectra Production
  • Utility Credit Union
  • Curgas N.V.
  • Eutel N.V.
  • GEBE N.V. Sint Maarten, Statia and Saba
  • Geus N.V.
  • UTS N.V.
  • PayTel N.V.
  • Telem N.V.
  • WEB Bonaire N.V.
  • Telbo N.V.
  • Bonaire Holding Maatschappij (BHM)
  • Autobus Bedrijf Curacao N.V.
  • Curacao Utilities Operating Company N.V.
  • Fundashon pa Maneho di Adikshon (FMA)
  • Fundashon speransa
  • Satel NV
  • USONA (Uitvoeringsorganisatie Stichting Ontwikkeling Nederlandse Antillen)
  • Consulate General of the United States of America
  • Premier Bank N.V.
  • Octaeder group N.V.
  • Xerox Curaçao N.V.
  • Xerox Aruba N.V.
  • CCR Hotel Management N.V.
  • CCR Casino Management N.V.
  • PBC Hotel Operating N.V.
  • PBC Casino Operating N.V.
  • Vidanova Pension Management Foundation

VidaNova utilizes private companies for assistance and support on a professional basis in different areas like Corporate Financial Solutions, AIC International, AON Actuariële Dienstverlening, LCG Associates, IFCE, ZL Attorneys, ICTAS, IT Solutions, and KPMG. VidaNova also has agreements with several investment managers / funds in the world 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 administrative 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 its participants -through its strategic partner RBTT Bank - mortgage loans and other bank and insurance products with attractive interest rates and conditions. Vidanova also offers commercial loans on a selective basis through a financial consortium.