WILLEMSTAD – Curaçao’s combined social insurance funds are now projected to end 2026 with a deficit of ANG 28.6 million, representing a deterioration of more than ANG 65 million compared with the surplus anticipated in the government budget.
The latest forecast from the Social Insurance Bank (SVB), included in the government’s financial reporting, marks a significant reversal from the nearly ANG 37 million surplus originally budgeted for this year.
According to the new projection, total expenditures by the social insurance funds are expected to reach approximately ANG 1.3 billion in 2026. That is about ANG 56 million higher than the roughly ANG 1.2 billion included in the budget.
Premium revenues are meanwhile expected to reach ANG 982 million, approximately ANG 3.7 million below the original estimate.
The deterioration is particularly notable when compared with last year. Curaçao’s combined social insurance funds ended 2025 with a positive result of slightly more than ANG 40 million.
The government contribution to the social insurance funds is expected to amount to ANG 319 million this year, approximately ANG 13 million more than in 2025. The increase includes contributions related to the Curaçao Medical Center.
One factor behind the higher expenditure is the increase in the maximum General Old Age Pension, known as AOV. The maximum monthly benefit increased from ANG 862 to ANG 1,000 on January 1 as part of the National Covenant between the government and organizations representing pensioners.
According to the government, the higher benefit directly increases expenditures from the AOV fund.
The latest forecast is based on SVB monthly reporting through March 2026 and remains preliminary. The financial report notes that there is particular uncertainty surrounding projections for the Basic Health Insurance fund, meaning the final result could still change as more recent figures become available.