CAP-employees parry management

WILLEMSTAD — A majority of the employees with Curaçao Airport Partners (CAP) voted out one of the management members who represented them in the pension fund Tradicur. He had joined the four management members who were appointed by the CAP-management to nominate a new director for the fund. Ludwin ‘Wini’ Margaritha, besides collaborate of Tradicur, and employed at Hato since 29 years, announced the aforementioned.


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According to Margaritha, it concerns a ‘macabre trick’ of CAP-manager Etienne van der Horst to manipulate with the pension fund. 101 of the 145 employees voted down the motion for the resignation of the employee management member: 96 wanted him to leave, four wanted him to stay, and one person did not vote.
The 96 voters fear that CAP – with a new management for the fund, will switch from a final loan arrangement to a middle loan arrangement. Another point of concern would be the management’s plan to switch to a payment based on available premiums instead of a retirement pay. Simply stated, the amassed monies per person are viewed as a total insurance, which upon retirement is spread over the number of years of one’s life that the participant should still have according to the life table.
"These development are not favorable for the employees", Margaritha criticizes the intentions of CAP.
The argument that the current pension arrangement is unaffordable will not wash, according to him. "CAP should respect our rights and invest our pension monies well in order to comply with the pension obligations of Tradicur. Why do they not save on consultants? For three years now, consultants such as Coach, Accurate Business Support and Advisory Services, and BDO swallow up piles of money every month. According to Margaritha, "that money could be used to pay for the pension provision."
In spite of repeated attempts, the CAP-management was not available for an explanation.