The State Ordinance on Company Pension Funds (AB 1998 no. GT 17) provides the CBA with a solid legal base for supervising company pension funds established in Aruba. The supervision of company pension funds aims primarily at maintaining the stability and integrity of the financial system and safeguarding the interests of the funds’ participants. Mainly via off‐site surveillance and periodic on‐site examinations the CBA conducts ongoing oversight over the company pension funds under its supervision.
A company pension fund must register at the CBA within 3 months after its incorporation. Reference is made to the registration form for company pension funds.
Company pension funds registered at the CBA have to continuously comply with the supervisory laws and regulations.
Supervisory laws applicable to company pension funds:
Regulations applicable to insurance companies:
Company pension funds that grant loans to third parties or perform other activities that fall within the scope of the AML/CFT State Ordinance should also visit the CBA’s webpage on the AML/CFT framework and the Financial Sanctions Regulations for an overview of the laws and regulations in the area of AML/CFT.
In cases where the CBA identifies a situation of noncompliance with the applicable supervisory laws and regulations, formal or informal (a normative conversation or a written warning) measures are considered. The decision whether to apply formal or informal measures depends, among other things, on the seriousness of the case. Please refer to the CBA’s Enforcement policy for more information.
