Vidanova (“the Fund”) is a tax exempt private and open, multi employer collective pension fund foundation. The Fund executes and administers the collective pension arrangements offered by its sponsors (affiliated companies) to their employees. The rights and responsibilities of the participants and the sponsors and their relationship with the Fund are described in the financing agreement and respective pension plans, entered into between the Fund and each separate sponsor.

Vidanova started operations on April 25th, 1968 as "Stichting Pensioenfonds voor de Antiliaanse Energie Bedrijven". In November of that same year, the Public Notary, Dr. Jacob Schiltkamp, passed a deed to transfer the assets from Stichting Pensioenfonds OGEM Nederland B.V. to the local foundation. The total assets on that date amounted to ANG.4.8 million guilders.

In 1977 the Fund became an independent entity from the founding company OGEM, and since then, the Fund has had its own Board of Trustees.

On May 2, 1991, the name of the foundation was changed into “Stichting Pensioenfonds Utiliteitsbedrijven" ("SPU"). On December 23, 2002, the name was changed again to "Stichting Pensioenfonds Vidanova" or “Vidanova Pension Fund Foundation (Vidanova)”.

Vidanova complies with all legal and fiscal requirements for Curacao and Sint Maarten as set forth by ordinance P.B.1985 no.44. Furthermore it is supervised by the Central Bank of Curacao and Sint Maarten as mandated by law for the management of all private pension funds.

Premium contributions as well as investment income are VidaNova's primary source of income. The Fund is set up to administer plan assets and benefits, the purpose of which, is to encourage employees to build long-term careers with Vidanova's sponsors by providing eligible employees with the long-term financial security needed for their retirement years.

As of March, 31, 2015 total assets of the Fund amount to ANG 852 million and, total liabilities to ANG 707 million. A total of 57 private and quasi-public companies are affiliated to the Fund (so called: "Sponsors"). The Fund has a total of, 4,841 total participants and a funding ratio of 117%. 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 seven Defined Benefit DB (final pay, average indexed pay) and thirteen 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 the pension base ("PB") or of the yearly salary is a requirement for each participating sponsor.

While benefit guidelines have been expanded in recent years, the average age of Fund participants is 45 years. 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 depending on the returns of the Fund.

Vidanova utilizes private companies for assistance and support on a professional basis in different areas like amongst others LCG Associates, Network-IT, The Galan Group, JPF Corporate Finance, Corporate Financial Solutions, AIC International, ICTAS, and IT Solutions. Furthermore, Vidanova also has agreements with several investment managers worldwide as well as in Curacao to manage part of its investment portfolio.

Vidanova holds the prestigious ISO 9001:2008 certificate and offers up-to-date and expert pension management as well as other administrative services and advise.

Please click here to view VidaNova's quality system.

At Vidanova, iIt is possible to accommodate companies' and participants' requirements in the pension plan, based on their specific needs, as long as the plans are approved by the fiscal authorities in Curacao or the BES and financially viable.

Vidanova also offers commercial loans to companies on a selective basis through a financial consortium.