WILLEMSTAD – The Government of Curaçao has taken the first step toward reforming the island’s pension system by launching a national dialogue on the General Old Age Insurance (AOV). The opening session was held yesterday and led by Minister of Finance Javier Silvania, who chairs the newly formed AOV Indexation Working Group.

Silvania described the initiative as a decisive moment for the country’s social security framework. “The time has come to take a major step together in creating a new future perspective for our pension system,” he said. He added that the Minister of Social Development, Labor and Welfare (SOAW) will announce before the end of this year the exact date and amount by which the AOV will be raised.

As chair of the working group, Silvania is tasked with leading discussions, coordinating with experts, and ensuring that financial calculations underpin any decisions. The group is developing multiple scenarios that explore by how much the AOV can be increased, which groups of retirees will benefit, and—crucially—how the adjustments will be financed.

The government emphasized that the process must balance fairness to retirees with fiscal responsibility, ensuring the sustainability of the pension system for future generations.

The launch of this dialogue marks the beginning of what is expected to be a series of consultations with stakeholders, including social partners, economists, and community representatives, as Curaçao works toward long-awaited reform of its pension system.