Aruba Bank strengthens employee benefits with new 4-year Collective Working Agreement
Aruba Bank N.V. on Fri, 16 Jan 15:13:47 PM GMT
Aruba Bank is pleased to announce the successful conclusion of a new four-year Collective Working Agreement (CWA), following constructive negotiations with the Federation of Aruban Workers (FTA). The agreement reinforces the Bank’s continued commitment to employee well-being, financial security, and long-term stability.
At the heart of the new agreement is a significant enhancement to the Pension Plan. To further strengthen employee retirement security, Aruba Bank has increased the employer’s pension contribution to 15%, providing employees with greater financial certainty for the future.
In addition to the enhanced pension contribution, the new CWA introduces several important improvements designed to support employees and their families:
Key highlights of the new 4-year CWA include:
• Enhanced Leave of Absence: Accompanying leave has been increased to three (3) working days for employees caring for immediate family members during or after hospitalization.
• Upgraded Medical Insurance: Improved medical coverage for all employees.
• Cost of Living Adjustment: The Cost Of Living cap has been significantly increased and aligned with the SVB limit, ensuring employee compensation remains competitive amid economic changes.
This agreement reflects Aruba Bank’s strong belief that investing in our people is essential. By strengthening pension contributions, improving health coverage, and enhancing family-related benefits, the bank reinforces its commitment to the long-term well-being and security of our employees.
Aruba Bank values the constructive dialogue with the FTA and remains committed to fostering a supportive, fair, and future-focused work environment for all employees. This agreement was achieved through the collaborative efforts of Mr. Hose Figaroa, Mr. Aldrick Pontilius and Mr. Ryan Giel, representing the FTA, and, on behalf of Aruba Bank, Mrs. Marleen van der Borgt, Mrs. Nataly Simmons, Mrs. Militza Oduber-Gietel, Mrs. Gjalynn Kolfin, along with the shop stewards Mrs. Mirla Koolman and Mrs. Ninette Croes.
