ORANJESTAD (AAN): Aruba Bank has announced the successful completion of a new four-year Collective Labor Agreement (CAO) following constructive negotiations with the FTA – Federation of Aruban Workers. The agreement reinforces the bank’s ongoing commitment to employee well-being, financial security, and long-term stability.
A key component of the new CAO is a significant enhancement to the pension plan. To strengthen employees’ retirement security, Aruba Bank has increased its pension contribution to 15 percent, ensuring a more secure future for all staff members.
In addition to pension improvements, the agreement introduces several important benefits designed to support employees and their families. These include enhanced family care leave, increasing paid leave to three working days for employees caring for an immediate family member during or after hospitalization. The CAO also provides improved health insurance coverage for all employees.
Furthermore, the agreement includes a substantial adjustment to the Cost of Living Allowance, aligning it with the SVB limit to ensure salaries remain competitive amid changing economic conditions.
This agreement highlights the value Aruba Bank places on its workforce. Through enhanced pension contributions, improved health coverage, increased cost-of-living support, and family-focused benefits, the bank continues to invest directly in the well-being and future of its employees.
Aruba Bank expressed its appreciation for the collaboration with FTA and reaffirmed its commitment to fostering a fair, sustainable, and future-oriented work environment.
The agreement was made possible through the collaborative efforts of Mr. Hose Figaroa, Mr. Aldrick Pontilius, and Mr. Ryan Giel representing FTA, and on behalf of Aruba Bank, Ms. Marleen van der Borgt, Ms. Nataly Simmons, Ms. Militza Oduber-Gietel, and Ms. Gjalynn Kolfin, together with shop stewards Ms. Mirla Koolman and Ms. Ninette Croes.
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