WILLEMSTAD - In December, the Social Insurance Bank (SVB) will distribute a Christmas bonus totaling 25 million guilders to pensioners covered under the General Old Age Insurance (AOV). This amount is an addition to the regular AOV pension and is designated for nearly 35,000 pensioners, most of whom reside in Curaçao. 

The total number of AOV beneficiaries is approximately 55,000 elderly individuals as of December 2024. The Christmas bonus will be granted to Curaçao residents who were entitled to their regular old-age pension in September. The bonus is equivalent to 100% of the pension amount received in September, providing a welcome financial boost during the holiday season. 

Significant Payout in December 

In total, the SVB will disburse over 56 million guilders in December, covering both the regular AOV pensions and the Christmas bonuses. The AOV pension, which provides a maximum of 862 guilders per month for those with a full 50-year insurance contribution, is legally paid on the first day of each month. The Christmas bonus, however, is a one-time annual payment issued in December. 

Financial Challenges Persist for Pensioners 

Despite the Christmas bonus, many pensioners remain financially vulnerable. The maximum AOV payment has been fixed at 862 guilders per month for several years, significantly below the minimum subsistence level of 2,148 guilders per month, as determined in 2021. While the bonus provides temporary relief, it highlights the ongoing challenges faced by Curaçao’s elderly population in maintaining financial stability. 

This initiative by the SVB offers some respite, but broader reforms may be needed to address the systemic issues affecting pensioners' financial well-being.