WILLEMSTAD – The government of Curaçao has firmly denied reports claiming that it is working on plans to raise the pension age or increase AOV (General Old Age Insurance) contributions. The denial comes in response to an article published by the newspaper Extra, which Acting Prime Minister and Minister of Finance Javier Silvania has labeled as incorrect, misleading, and unnecessarily alarming.
According to Silvania, the Extra article published on July 21 falsely suggests that the government is preparing to increase both the retirement age and AOV premiums. "This is simply not true," he stated. "There is no draft legislation or policy decision aimed at changing the pension age or contribution rate."
Silvania emphasized that both he and Minister Ruthmila Larmonie-Cecilia America-Francisca of Social Development, Labor, and Welfare (SOAW) have publicly and repeatedly affirmed that there are no plans to adjust the pension age or increase premiums. "Extra was gravely mistaken in its reporting," he added.
The minister expressed disappointment that some media outlets do not uphold their responsibility to inform the public accurately and objectively. He warned that publishing speculative or false information, like the recent article in Extra, only fosters public distrust and unnecessary anxiety—especially among the island’s elderly population.
Long-Term Reform, Not Sudden Change
Silvania clarified that while the government is indeed working on long-term reforms to strengthen the AOV system, these efforts are being conducted with transparency, technical analysis, and public consultation.
An interministerial working group has been established under the leadership of the Ministry of Finance, in collaboration with the Ministries of General Affairs and SOAW. This group consists of experts from both government and the private sector with specific knowledge in pensions, taxation, and social security.
The working group is currently analyzing various scenarios to adjust and index AOV pensions in a way that is socially fair and financially sustainable. These evaluations take into account recommendations from the International Monetary Fund (IMF), among others.
However, Silvania reiterated that the government has already explicitly ruled out increasing the pension age or contribution rates. This remains a key principle guiding the working group’s efforts.
Stakeholder Consultation and Parliamentary Review
Before any final decision is made on pension indexation or benefit increases, the government plans to consult with UPAH (the union of retired persons) and other relevant stakeholder groups. Additionally, all necessary proposals and measures will be presented to Parliament to gauge the sentiment of elected representatives.
Silvania concluded by calling on all media organizations to take their role seriously, especially when reporting on sensitive socioeconomic issues. “The public deserves clear, factual, and responsible information. Sensationalism only undermines trust.”
