WILLEMSTAD - The Economic and Social Council (SER) of Curaçao today submitted its advisory opinion to Minister Charetti America-Francisca of Social Development, Labour and Welfare (SOAW) on the draft national decree, containing general measures, which formalizes a measure already implemented on August 1, 2023. The initiative strengthens the purchasing power of older people by raising the supplementary allowance for beneficiaries of the General Old-Age Insurance (AOV) and broadening the eligibility criteria.

As of 1 August 2023, the monthly supplementary allowance was raised from Cg 130 to Cg 169. Henceforth, all Curaçao-resident AOV-beneficiaries whose total income is equal to or less than the full-pension benchmark of Cg 862 per month (applicable to a fully built-up 50-year insurance record) qualify under the new scheme. The draft national decree, containing general measures, places this arrangement within Curaçao’s legislative framework, establishing a definitive legal basis.

The estimated additional annual financial burden is approximately Cg 6 million, to be covered from the existing SOAW budget line ‘Social Relief Benefit and Emergency Provisions’. While the measure offers immediate relief to thousands of older people who are reliant exclusively on AOV income, the SER underlines that this remains an interim step: automatic indexation of the AOV benefit, a transparent multi-year financing plan and recognition of the long-term pressures posed by demographic ageing and erosion of older citizen purchasing power are essential.