WILLEMSTAD – Curaçao's aging population is placing increasing pressure on the island's old-age pension system, with both the number of beneficiaries and total pension payments rising significantly, according to the 2025 Annual Report of the Social Insurance Bank (SVB).
Last year, premium revenues for the Old-Age Pension Fund (AOV) increased from nearly 395 million guilders to more than 415 million guilders.
At the same time, pension payments climbed to approximately 412 million guilders, compared to about 395 million guilders in 2024.
The number of AOV beneficiaries also continued to grow. The average number of pension recipients increased from just over 53,000 in 2024 to nearly 56,000 in 2025. By December 31, Curaçao counted almost 57,000 AOV beneficiaries—more than 2,500 additional recipients compared to a year earlier.
According to the SVB, financial pressure on the pension fund is expected to intensify following the increase in the monthly AOV benefit to 1,000 guilders, which took effect on January 1, 2026.
The organization says the higher pension payments will generate substantial additional costs in the years ahead.
The SVB also notes that population aging affects more than just the pension fund. Older residents generally require more healthcare services, placing additional pressure on the BVZ healthcare fund as medical expenditures continue to rise.
Without sustained economic growth, an expanded premium base and the implementation of structural reforms, the SVB expects the financial position of Curaçao's social insurance funds to deteriorate further in the near future.