WILLEMSTAD – About a thousand AOV (Old Age Insurance) beneficiaries in Curaçao will receive an additional nearly 130 guilders per month on top of their pension payments. This decision by the Ministry of Social Development follows a thorough investigation by the Social Insurance Bank (SVB) into the financial situation of the elderly who were previously affected by the increase in the retirement age.
In 2013, the retirement age in Curaçao was raised from sixty to 65 years. At that time, a transitional arrangement was established for over a thousand AOV beneficiaries who chose to retire at the age of sixty. This resulted in a 30 percent reduction in their basic pension. While part of this reduction was later restored, there remained a deficit of five percent.
The SVB's investigation revealed that this group, consisting of elderly individuals who rely solely on AOV pension as income, has been financially disadvantaged by the reduction. Funds have now been allocated in the budget to compensate for this deficit. The total amount of approximately 1.6 million guilders will be consistently added to pensions in the form of a monthly allowance.
The SVB will disburse the total amount for 2023 to the individuals involved by the end of the coming week. This measure aims to alleviate the financial burden on AOV beneficiaries who were affected by the previous pension changes.