APS pension beneficiaries asked to furnish information
APS, the general pension fund of St. Maarten, is this week, mailing respective information regarding wages and salaries to all APS pension beneficiaries. The information being sent is in addition to the regular update provided every month to pension beneficiaries receiving their monthly payslip.
Pension beneficiaries should receive additional documents inside their envelopes, with an overview of total amount of pension income paid out in 2013 along with all sums withheld for income tax, SZV premiums and others.
Also included in this month’s mail is a survey form requesting pension beneficiaries to confirm their marital status and/or history, as well as the number of dependents under the age of 25 they may or may not have, at this time.
The aforementioned data is deemed important since present and/or previous spouse(s) of married APS participants are, by law, entitled to a widow or widowers’ pension, once a pension fund participant has passed away. This may also apply in the case of an orphan pension when there are children left behind.
APS considers it of vital importance to give content to its role as general pension fund and have adequate pension provisions in place for surviving family members of a deceased pension fund participant.
With this in mind, APS is asking all concerned to be on the lookout for an A4 sized envelope being mailed to them by APS. Persons receiving the envelope are asked to fill out the survey and return the form as quickly as possible.
Notwithstanding that the consequences of death is usually not a subject discussed in detail, by many, APS reminds participants of the importance of having ones affairs in order.
The law has made it possible for the families of participants of APS senior’s pensions to be financially taken care of, to some degree, in the event of death.
Pension beneficiaries can thus do their part by assisting APS with the proper recording of required data and information in the APS administration system.