Dear Editor,
What’s on my mind – ENNIA! And we as we are yet again in another the wonderful time of election, we should all be watching the action or non-action of parliament!
As one of the approximate 3,000 Ennia policy holders in SXM, I am paying keen attention whether the current Members of Parliament of St. Maarten will approve or reject the solution presented whereby CUR-SXM-CBCS will have to contribute to ensure that Ennia doesn’t go bankrupt, thereby ensuring the pensions of the policy holders of Ennia.
Yes, we are all hoping that the monies will be recovered from those that plundered the Ennia coffers, some claiming plausible deniability, but that case is in court and it can take years before and if the moneys are recovered.
It would mean that:
- Curaçao for its approximately 27,000 pensioners will have to contribute (reserve) ANG 22 million per year on their budget (for 30 years)
- SXM for its approximately 3,000 pensioners will have to contribute (reserve) ANG 2.3 million per year on their budget (for 30 years)
- CBCS will contribute ANG 15 million per year
It is a big consequence to taxpayers of Curaçao and SXM and the Ennia policy holders because THEY WERE NOT
1. behind the wheel with their foot on the gas pedal when taking or allowing money to be taken out of Ennia
2. at the helm of CBCS who should have been supervising Ennia and allowed the money flight from Ennia;
3. in government who ultimately decides who runs and supervises the CBCS.
In the meantime, here are some comments out there about this topic:
A. Ennia is a Curaçao company and not SXM problem – Uhm, Ennia was established when both Curaçao and SXM were part of the Netherlands Antilles, SXM has a branch, so stop that nonsense and stop trying to confuse people.
B. Let Ennia go bankrupt – Easy to say if your household is not affected; so those who have Ennia pensions in St. Maarten don’t matter? Another Uhm, messing with people’s pensions at any time is unacceptable.
C. Let the APS take over these pensioners – Ahh yes, the APS, savior of all financial issues of SXM, whatever money is needed just go to the APS, they can finance. This is easier said than done, nothing is in place for this. Again, an easy and simple solution.
D. This solution be a higher cost to the taxpayers – Nice deflection, but tell the whole story.
SXM has loans to the tune of ANG 316.4 Million with a current interest rate of 3.1%.
Failure for parliament to approve the provided Ennia solution before elections may result in SXM interest rate being increased to a minimum 5.9% but up to 8% (which means a minimum of ANG 12.7 Million extra in interest a year!)
I guess throwing that money away on a yearly basis, is no problem for SXM, we are rolling in the dough.
Now the reality: As we do not have a crystal ball and there are people already on pension or going on pension who have Ennia policies a solution had to found.
Food for thought: 3,000 disgruntled Ennia policy holders and their voting family members in SXM could easily result in almost half of the voting population of SXM which during last election were only 14,443 (at least valid votes).
It is “Speak Now, Or Forever Hold Your Peace” time. We all stay quiet and accept what comes our way, but some things need to be said.
Name withheld at author’s request.
