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Pension Fund Tourism Sector Aruba Foundation (“PFTSA” or “the Fund”) was founded in 1992 on the initiative of Aruba Hotel and Tourism Association (“AHATA”) and the Federacion di Trahadornan di Aruba (“FTA”), as they both shared the same vision for the need to create a pension plan that would provide workers in the tourism industry with additional income after retirement on top of the general old age pension provided by the government.
 
PFTSA currently manages two plans, namely a Defined Benefit plan (“DB”) and a Defined Contribution plan (“DC”). As of January 1, 2004, the Fund ceased allowing participation into the DB-Plan and the participants could continue only with the DC-plan. The pensions built up in the DB-Plan until December 31, 2003, have not been transferred to the new pension plan (DC-plan).


Under its license, PFTSA is required to allow only tourism related entities as clients. To determine if an entity is tourism related or not, the International Standard Industrial Classification of All Economic Activities (ISIC or ISIC-classification) of the Central Bureau of Statistics of Aruba (CBS) is applied. When starting a pension plan, the following documents of the employer are required:

• Copy of the Extract of the Chamber of Commerce (not older than 3 months)
• Copy of a valid ID of the Management and/or Board
• Address verification of the Management and/or Board
• Copy of the shareholders register
• Copy of a valid ID of the shareholders
• Address verification of the shareholders Once above-mentioned documents are submitted, PFTSA and the employer will sign an agreement to start administrating the pension plan.

Once an employer is a member of the Fund enrolment of new employees in the Fund is mandatory.
An employee is eligible and obligated to participate in the Pension Plan when he:

1. is at least 18 years of age, but has not reached the pensionable age yet, and
2. is registered in the Civil registry (Censo)
3. has a working agreement with an Employer, and
4. has passed the probation period
5. meets the conditions as imposed by the Fund

For new employees an Enrollment form and Beneficiary form must be filled in and the following documents are required:
• Copy valid ID new employee
• Papel Afl. 5 (Censo) of new employee

If married:
• Marriage certificate
• Copy valid ID of partner
• Papel Afl. 5 (Censo) of partner

If child(ren) under 18 years:
• Birth certificate of child(ren)

If divorced:
• Marriage certificate
• Certificate of registration of divorce

All changes in the staff must be communicated to PFTSA. PFTSA has a mutation form that needs to be completed to communicate all changes, for example: resignation of an employee, marriage, divorce, birth of a child, extra premium contribution, decease, retirement, etc.
Monthly the employer must send the pension premium report from their payroll to PFTSA. This report will be uploaded in the pension administration system by PFTSA.

If the employer is using Payroll Pro Ultra, the employer must submit the report 150, 164 and 320 in .csv format. If another payroll application is used, you should submit the monthly total pension premium report generated by your payroll application.

These pension premium reports must be submitted via the following email: pensionpremiums@pftsa.com
The employer must pay the pension premium monthly, not later than 15 days after the last day of the month. PFTSA does not issue a monthly invoice. The monthly pension report stands for invoice. The payment can be done on one of the following bank accounts:

Aruba Bank N.V.
215020490

Caribbean Mercantile Bank N.V.
23834210

RBC
4353390
It is possible to switch from another pension provider to PFTSA. You can change pension provider once your pension agreement with your current pension provider has reached the end date. However, a notice period before the end date of the agreement may be applicable.

In accordance with the State Ordinance, 2/3 part of the employees must agree with the switch.

By submitting a list with the names and signature of the participating employees, PFTSA will be able to meet with the employer for the assignment/contract.
Download Enrollment form (PDF)

Download Mutation form (PDF)

Download Beneficiary form (PDF)
pension plan

Pension contribution

Monthly your pension contribution together with the employer’s contribution, minus the administration costs, will be booked on your pension policy.

We invest your contribution for your pension

When you start participating in de DC scheme, your net contribution is invested. The rate return on the investment, will be allocated on your pension capital. So annually your pension capital will also increase with the investment returns. The annual rate of return percentage will be evaluated each year by the Executive Board of PFTSA and depends among others on the performance of the Fund’s investments.

Purchasing a pension

On the retirement date, the accrued pension capital will be used to purchase a periodic pension benefit.
The yearly total premium contribution payable to the Fund on behalf of a participant equals:

1. a minimum of 3% of his Premium Salary payable by the participant, plus
2. a minimum of 3% of his Premium Salary payable by the employer, plus
3. an optional supplementary contribution of minimally 1%, maximally 19% of the premium salary payable by the participant and/or employer.

The defined contribution percentage payable by the participant will be withheld by the employer from the participants’ monthly salary. The monthly contributions are increased by the employer with the employers’ part of contribution. The total contribution is paid monthly to the Fund by the employer.

Any supplementary contribution for is valid for the whole year and cannot be changed during the year.
The Defined Contribution plan PFTSA offers is very flexible. The participants have for example the following options:

• The participant can contribute with a higher percentage
• The participant can deposit a lumpsum (for example (part of) a bonus, (part of) the vacation allowance, etc.)
• The participant can transfer his/her accumulated pension capital from other pension fund and/or insurance company to PFTSA
• The participant can choose to retire later (not later than 70 years old)
• The participant can choose to retire earlier (not earlier than at 60 years old)
• The single participant without children younger than 21 years can choose his/her beneficiary(ies) in case the participant dies before retirement date
Once you are not employed anymore, you will become a deferred vested participant. This means no contributions can be paid, but you still will be earning annually interest on your accrued pension capital.

A deferred vested participant is entitled to:

• Keep the accrued pension capital, earning interest, at PFTSA until retirement date
• Transfer the actuarial net reserve of his accrued Personal Pension Capital, if accrued Personal Pension Capital does not surpass 10 years in the Fund, to another pension fund or insurance company provided that those funding vehicles are recognized as such by Aruban law. The transfer of the actuarial net reserve should be direct to the other funding vehicle, without any intermediary parties involved. In connection herewith an administration fee of Afl. 250.00 will be charged.
If the participant dies before reaching retirement age, the partner of the participant will receive a partner pension. The amount of the partner pension depends on the accumulated pension capital of the participant. If the participant had child(ren) under 21 years or 27 years who are attending full time school and/or are disabled, they will receive an orphan’s pension until reaching the maximum age of 21 and/or 27. The amount of the orphan’s pension also depends on the accumulated pension capital of the participant.

In case the Participant dies, before reaching retirement age without leaving any children and/ or Partner as beneficiaries, 70% of the accrued capital during the period of participation may be paid out to the employer. The employer will then pay out the received sum to the beneficiary (ies) assigned by the former Participant on the beneficiary form.

The following documents are required:

• Copy of death certificate of the participant
• Copy valid ID of the beneficiary
• Copy of the bank account of the beneficiary
• Papel Afl. 5 (Censo) of the beneficiary
3 Years after the ex-participant has emigrated, the ex-participant can request to claim the accumulated pension capital. The ex-participant will receive the accumulated pension capital, as a lumpsum. PFTSA will charge Afl. 250.00, deduct the tax wages and/or outstanding tax debts, before payout.

For this request the following documents are required:

• Copy valid ID of the participant and of the partner if married
• Original proof of deregistration of Aruba 3 years ago
• Original proof of registration in other country or Attestatie de Vita by a lawyer or an attorney.
• Original statement of Tax behavior from the Tax Authorities of Aruba not older than 3 months in the year that the payment will take place
• Identification number of Aruba on the identification card (cedula) or the Censo paper. If married this is also required for the partner.
• Copy of your personal tax number (“persoonsnummer”) in Aruba of the participant and of the partner (if married), on a letterhead/document of the Departamento di Impuesto Aruba.
• Copy of bank account on the letterhead of the bank with mention of the name and address of the bank. IBAN number and/or Swift code is required in case of foreign banks.
Once the new employee becomes a new participant in the Fund, the participant will receive a log in letter with his/her credentials to log in our Online Portal.

In the Online Portal the participant will find his/her annual Personal Benefit Statement, an overview of the booked premiums in the current year and their personal information as register at the Fund.

If the Participant needs new credentials, the participant must request this by e-mail with his/her personal e-mail address as register at the Fund, otherwise the participant can submit the request with a copy of a valid ID.
On an annual basis the Fund will provide the participant with a digital Personal Benefit Statement which includes, but is not limited to, a detailed overview of his:

1. name, date of birth, gender, participation date;
2. contributions paid for the year;
3. contributions paid to date;
4. accrued Personal Pension Capital to date.
6 Months before reaching retirement date, the (former) participant will be informed by letter that he/she is reaching retirement date and the documents required to claim the Old Age pension.

The following documents are required:

• Papel Afl. 5 (Censo) not older than 3 months before retirement date
• Copy of valid ID
• Copy of your personal tax number (“persoonsnummer”) on a document of the Departamento di Impuesto Aruba
• Copy of your bank account on a document of the bank

If married:
• Papel Afl. 5 (Censo) not older than 3 months before retirement date of the partner
• Copy of valid ID of the partner
• Copy of your personal tax number (“persoonsnummer”) of the partner on a document of the Departamento di Impuesto Aruba
• Marriage certificate

If divorced:
• Registration of the marriage at the Censo
• Registration of the divorce at the Censo
• Copy of divorce settlement (“echtscheidingsconvenant”)
a) The participant will use his Personal Pension Capital to purchase Old Age Pension at the Pension Date.
b) The Old Age Pension is payable monthly in arrears starting from the Pension Date.
c) The Old Age Pension will cease at the end of the month in which the Pensioner passes away. If the amount of the Old Age Pension is less than Afl. 50 per month, the Old Age Pension will be paid at retirement date as a lumpsum.

To claim the Old Age pension the following documents are required:
• Papel Afl. 5 (Censo) not older than 3 months before retirement date
• Copy of valid ID
• Copy of your personal tax number (“persoonsnummer”) on a document of the Departamento di Impuesto Aruba
• Copy of your bank account on a document of the bank

If married:
• Papel Afl. 5 (Censo) not older than 3 months before retirement date of the partner
• Copy of valid ID of the partner
• Copy of your personal tax number (“persoonsnummer”) of the partner on a document of the Departamento di Impuesto Aruba
• Marriage certificate

If divorced:
• Registration of the marriage at the Censo
• Registration of the divorce at the Censo
• Copy of divorce settlement (“echtscheidingsconvenant”)
At retirement date, the participant has the option to buy besides the Old Age Pension a Partner’s Pension also for the partner.
The amount the partner is entitled to is 60% of the Defined Benefit and 70% of the Defined Contribution Benefit.

To claim the partner’s pension the following documents must be submitted:
• Copy valid ID of the partner
• Copy of the bank account of the partner on a document of the bank
• Papel Afl. 5 (Censo) of the partner
• Copy of Death Certificate of the ex-pensioner

Every year in January the partner of ex-pensioner must submit an Attestatie de Vita. If this document is not submitted on time, your pension benefit payment will be stopped.

The Partner Pension is payable monthly in arrears starting from the month following the month in which the ex-pensioner dies.

The Partner Pension will be paid until the end of the month in which the partner dies.
Every year in January you must submit an Attestatie de Vita. When reaching your pension date, you had the option to authorize PFTSA to request your Attestatie de Vita. If you have authorized PFTSA to request this document, you don’t need to do anything. PFTSA will continue to pay out your pension benefit on time. Please note that you need to submit a valid ID every time your ID has expired. Otherwise PFTSA is not able to request the Attestatie de Vita, even though you have filled in the authorization form.

If you did not authorize PFTSA to request the Attestatie de Vita for you annually, you must submit a new Attestatie de Vita in January of each year. If this document is not submitted on time, your pension benefit payment will be stopped. Retroactive payment will resume at the end of the month in which the valid Attestatie de Vita is received.
If the (ex) participant dies before retirement date, a partner pension will be purchased at with the accrued pension capital to such date.

To claim the partner’s pension the following documents must be submitted:

• Copy of the Marriage Certificate
• Copy valid ID of the partner and of the (ex) participant
• Copy of the personal tax number (“persoonsnummer”) of the (ex) participant on a document of the Departamento di Impuesto Aruba
• Copy of the personal tax number (“persoonsnummer”) of the partner on a document of the Departamento di Impuesto Aruba
• Copy of the bank account of the partner on a document of the bank
• Papel Afl. 5 (Censo) of the partner and of the (ex) participant
• Copy of Death Certificate of the (ex) participant

Every year in January the partner of ex-participant must submit an Attestatie de Vita. If this document is not submitted on time, your pension benefit payment will be stopped. Retroactive payment will resume at the end of the month in which the valid Attestatie de Vita is received.

The Partner Pension is payable monthly in arrears starting from the month following the month in which the (ex) participant dies.

The Partner Pension will be paid until the end of the month in which the partner dies.
The orphan pension equals 20% of the total Partner Pension. In case there is no Partner to claim Partner Pension, the accrued pension capital will be used to purchase the Orphan Pension.

To claim the orphan’s pension the following documents must be submitted:

• Copy valid ID of the orphan and of the (ex) participant
• Copy of the personal tax number (“persoonsnummer”) of the (ex) participant
• Copy of the personal tax number (“persoonsnummer”) of the orphan
• Copy of the bank (savings) account of the orphan on a document of the bank
• Papel Afl. 5 (Censo) of the orphan and of the (ex) participant
• Copy of Death Certificate of the ex-participant

The Orphan Pension is payable monthly in arrears starting with the month following the month in which the Participant passes away.

The Orphan Pension will be paid until the earliest of one of the following conditions:

1. the end of the month in which the Orphan passes away, or
2. the end of the month in which the Orphan reaches the age of 21, or 27 if the Orphan is studying or disabled.

The orphan must prove, on a yearly basis, to the fund that he is studying or disabled. If the orphan cannot sufficiently prove, in the opinion of the Board of the Fund, that he is (still) studying or disabled then, loss of entitlement to an Orphan Pension shall be imposed.

In case there is no (Special) Partner to claim (Special) Partner Pension the accrued Personal Pension Capital will be used to purchase Orphan Pension
In case the (ex) participant dies before reaching retirement age without leaving any children and/ or Partner as beneficiaries, 70% of the accrued capital during the period of participation may be paid out to the employer. The employer will then pay out the received sum to the beneficiary (ies) assigned by the former Participant on the beneficiary form.
Download PDF document (Rules & Regulations)

Yes, since January 1st, 2012, Aruba introduced a mandatory pension for all employees in the private sector. This means that all employers must have a pension plan for their employees.

Yes, since January 1st, 2012, pension in Aruba is mandatory. In accordance with the State Ordinance the minimum contribution is 6% of your gross salary, of which the employer must pay at least half. The remainder must be paid by the employee.

In accordance with the State Ordinance the minimum contribution is 6% of your gross salary, increased by any vacation allowance, any points and any fixed bonus and a minimum of 50% of any commission. Overtime will not be considered.

Yes, you can contribute with a higher percentage. The maximum contribution is 25% including the employer’s contribution.

If you have a partner as stipulated in the rules & regulations, your partner will receive a partner pension.
If you have children younger than 21 years or 27 years studying or disabled, they will receive an orphan’s pension.
Otherwise your beneficiaries will receive 70% of the accrued pension capital as a lumpsum. Your beneficiaries are those specified by you on your beneficiary form from Pension Fund Tourism Sector Aruba when you entered employment or upon subsequent amendment. It is important that you always keep this form up to date.

If you change from employer your accrued pension capital will be made vested. You will continue to receive interest annually. And on your retirement date you will receive your pension.

If you have a new employer that is affiliated with Pension Fund Tourism Sector Aruba, you will keep your relationship number, but will start with a new policy. In this case you will have a vested policy from your previous employer and an active policy from your current employer. Both policies will be administrated under the same relationship number.

If you have a new employer that is not affiliated with Pension Fund Tourism Sector Aruba, you can submit a request to transfer your accrued pension capital to your new pension provider or you can keep your policy vested until retirement date.

No, it is not possible to cash out the pension as the law does not allow this. You can only submit a request to cash out the accrued capital in case of emigration, 3 years after you have emigrated.

Your retirement date is equal to the retirement date for the AOV. At this moment the retirement date for everyone born on July 1st, 1959 or later is 65 years. For persons born before July 1st, 1959 it depends on the date you were born.

Yes, you can submit a request to retire later, but not later than at 70 years old.

Yes, you can submit a request to retire earlier, but not earlier than at 60 years old. Please note that you will not yet receive AOV and will therefore be obliged to pay AOV-premium.

Every year you receive a digital personal benefit statement from us which states your accrued pension capital. You can find your personal benefit statement in the online portal.

You can cash out your accumulated pension capital after living three years abroad if you have not reached your retirement date yet.

You can also choose to leave your accrued pension capital vested. You will continue to earn interest annually and on your retirement date you will receive your pension.

If your previous employer was not affiliated with Pension Fund Tourism Sector Aruba, you can request your former pension provider to transfer your accumulated pension capital to Pension Fund Tourism Sector Aruba

You can receive your accumulated pension capital as a lumpsum only if the pension amount that will be paid out is less than Afl. 50.00 per month. All amounts higher than Afl. 50.00 per month, must be paid out monthly.

That is not possible if you work with an employer affiliated with Pension Fund Tourism Sector Aruba.

This depends on several factors such as the capital accrued, the interest and the mortality tables. On your personal benefit statement, you can get an estimation of how much pension you will receive in the future.

If your question has not been answered, please don’t hesitate to contact us at telephone number (297) 582-4499 or by e-mail at info@pftsa.com. It is a pleasure to help u.

Pension Contact Information
Phone: 582-4499
Email: info@pftsa.com
WhatsApp: 592-5613

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Avenida E.J. “Watty” Vos 24, Second Floor
(297) 582-4499
info@pftsa.com
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