Aruba Bank is proud to announce that it has reached an agreement on a new four-year Collective Labor Agreement (CLA) following constructive negotiations with FTA – the Aruban Workers’ Federation.
This agreement reinforces the Bank’s ongoing commitment to the well-being, financial security, and stability of its employees.
A key foundation of the new CLA is a significant improvement to the Pension Plan. To strengthen employees’ retirement security, Aruba Bank has increased the employer pension contribution to 15%, ensuring a better future for all.
In addition to the pension plan enhancements, the CLA introduces several important improvements to support employees and their families:
Key highlights of the new CLA include:
- Improved leave policy: The number of days granted to accompany an immediate family member during and/or after hospitalization has been increased to three (3) working days.
- Enhanced health insurance: Improved medical coverage for all employees.
- Cost of Living Adjustment: The Cost of Living allowance cap has been significantly increased and aligned with the SVB limit to maintain competitive salaries amid economic changes.
This agreement reflects the value Aruba Bank places on its employees. With the increased pension contributions, improved health insurance, higher cost-of-living limits, and added family support, the Bank is directly investing in the well-being and future of its workforce.
Aruba Bank appreciates its collaboration with FTA and remains committed to fostering a fair, sustainable, and future-oriented work environment for all employees. This agreement was achieved thanks to 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.