Partial sampling

A partial sample is a selection technique used in the audit. In order to form an opinion about a population, a selection of items for review is made on the basis of certain characteristics of that population as a whole. (deelwaarneming)

Participant administration

Place where data related to the participants of the fund is kept and maintained: usually a database of all the relevant information about the pension fund’s participants. (deelnemersadministratie)


A regular payment made during a person’s retirement from an investment fund to which that person and/or their employer has contributed during the person’s working life. (pensioen)

Pension fund

A fund from which pensions are paid, accumulated from contributions from employers and/or employees. (pensioenfonds)

Pension Fund Assets

All assets bought with the contributions to a pension plan for the exclusive purpose of financing pension plan benefits. (totale pensioenvermogen)

Pension obligation provision

The amount that a pension fund must have at its disposal to fully meet the future benefits of the participants. (voorzieningen pensioenverplichtingen-VPV)

Performance audit

Sometimes referred to as a ‘value for money’ audit, assesses efficiency and effectiveness of public programs and policies in achieving objectives. (doelmatigheidsonderzoek)

Political authority

A natural person appointed to political office in accordance with the Constitution and other relevant laws of St. Maarten: such as members of Parliament and Ministers. (politieke gezagsdragers)

Public Procurement

The acquisition, whether under formal contract or not, of works, supplies and services by government. (publieke inkoop)