WILLEMSTAD – The General Pension Fund of Curaçao (APC) closed 2024 with a significantly improved financial position. According to its annual report, the fund’s coverage ratio rose from nearly 108 percent at the end of 2023 to 113 percent at the end of 2024, well above the required minimum threshold of 105 percent. APC’s managed assets grew to six billion guilders.

The fund achieved a positive investment return of 6.3 percent last year, which the board attributes to a balanced mix of international and local investments. These included projects such as a wind farm, tourism-related construction, and real estate in Willemstad. “In this way, we combine social impact with our long-term goal: pension security for our participants,” the report stated.

Indexation and Catch-Up Adjustments

In 2024, APC also implemented a 0.7 percent pension indexation. However, an additional 1.7 percent increase linked to government salary adjustments has yet to be compensated and remains listed as “catch-up indexation.”

Strategic Plan 2025–2029

Alongside its financial results, APC presented its new strategic plan for 2025–2029. The plan emphasizes digital transformation, customer focus, social engagement, and further strengthening of the financial foundation. The organization underscored that pensions are not only a financial provision but also a social cornerstone connecting generations.

For retirees, the stronger coverage ratio increases the likelihood that pensions will continue to be indexed in the future, better keeping pace with inflation. For active workers, the results provide assurance that their accrued rights are secure and that APC has sufficient buffers to meet its long-term obligations.

By focusing on local investments, APC demonstrates that it is not only safeguarding pensions but also actively contributing to Curaçao’s economy and job creation.