Always with an eye on providing improved services to its clients, APS, the general pension fund of St.Maarten is simplifying its payment method to pension beneficiaries. APS has started using the online payment application offered by the Windward Islands Bank to make payments to over 500 persons who receive their monthly pension benefits on an account at the aforementioned bank.
This new approach affords beneficiaries the opportunity to receive their pension benefits a bit earlier on their respective accounts.
APS says that with less manual transactions needed, the pension fund is able to reduce costs by more than 50 percent every month on bank charges as compared to when transfer instructions are sent in writing to the bank.
While there have been a few glitches in the system (as evidenced this month), APS continues to work closely with representatives of the bank to resolve any issues arising.
APS now looks forward to the online payment system becoming available for the bulk of payments to pension beneficiaries with accounts at other local banks. This would also be the case for those clients which APS inherited from APNA with bank accounts on one of former sister islands of the Netherlands Antilles.