WILLEMSTAD - Curaçao’s General Old Age Insurance (AOV) will see an increase starting January 1, 2025, as announced by Minister of Health and Finance, Javier Silvania, on Thursday. The news came during a parliamentary meeting focused on the financial reports of the Social Insurance Bank (SVB) for the years 2021 and 2022.
While the exact amount of the increase has not yet been finalized, Minister Silvania confirmed that between 4 and 6 million guilders have already been allocated to fund the adjustment. The increase is expected to be introduced in the form of a supplement to current AOV payments.
This measure is part of a broader effort championed by the Pisas II Cabinet, which has consistently pushed for the rise in AOV. Silvania also reassured that there are no plans to raise the retirement age or social premiums alongside this change. According to the minister, there is enough financial flexibility to support the increase without making adjustments to either the retirement age or the contribution rates.
The announcement provides a sense of relief for many elderly citizens who have been awaiting improvements to their benefits. Further details on the exact amount of the increase are expected to be released in the coming months.