The meeting was nicely attended by the fund’s clients and by PFTSA board members. The PFTSA Executive Director Sanaa Baroud welcomed the guests with her administrative crew, making many interesting materials about the fund available.
The meeting was conducted by the new dynamic chairperson, Jossy Lacle, the former director of WEB Aruba, now at the helm of the board of directors sharing the responsibility for managing and investing the pension funds for 2,815 members most of them working in the hospitality sector.
Having introduced himself to the forum, Lacle went on to express his gratitude for being able to contribute to the private pension fund. He thanked outgoing board members for their dedication and introduced his fellow board members Vice Chair Glenn Farro, Secretary Rudy Geerman, members representing employers Ton Kolman and Nathaly Wouters, and members representing employees Ann Brinkman and Valerie Pietersz-Camacho.
Lacle navigated the agenda expertly inviting accountant Jamil Tromp and the auditors to explain the financial report of 2010. Following a lively interchange with the audience the balance sheet and the investments were reviewed and at the end of the formal process Lacle gave the board a discharge indicating that their good management work for 2010 was successfully reported and concluded.
The meeting then went on to cover growth in membership, and the necessary changes made within the fund as a result of new mortality tables, explaining that clients’ life expectancy is longer and the fund is making the adjustment to accommodate members with new life-expectancy assumptions of 76.6 for men and 82.7 for women.
Having stated the objectives of PFTSA for next year, Lacle opened a free word Q & A session, thanking La Cabana Beach & Racquet Club for the use of the space and for the excellent refreshments.
PFTSA is gearing up to receive more and more companies as clients and welcomes Chrec Aruba Casino NV, Atlantis Submarine NV and Lite Life Medicab NV to the group of 42 member companies with an investment portfolio of 27 millions.