WILLEMSTAD – Recently, Minister Ruthmilda Larmonie-Cecilia of Social Development, Labor & Welfare, in response to an urgent call from various AOV (pension) beneficiaries, requested the SVB (Social Insurance Bank) to investigate the size of the group that, by opting for the transitional arrangement during the increase in the retirement age, had their pension reduced and what they are lacking.

In 2013, the retirement age in Curaçao increased from 60 to 65 years. At the time of this change, there was a transitional arrangement, and over 1000 AOV beneficiaries chose to retire at the age of 60. By opting for this transitional arrangement, their AOV basic pension was reduced by 30%. Later, this shortfall was partially restored by 15%. The SVB’s research reveals that 1000 individuals rely solely on AOV pension as their income. This group will retroactively qualify for a monthly supplement of NAf. 129.30 on their pension from January 2023 to address the shortfall.

Minister Larmonie-Cecilia has earmarked funds in her budget to supplement the remaining 15% shortfall for those affected. This amounts to approximately NAf. 1.6 million. The increase is structural and will be disbursed in the form of an allowance. The SVB will disburse the total amount for 2023 no later than next week.

As previously mentioned, the group of pensioners eligible for this supplement relies solely on AOV pension as income and has utilized the transitional arrangement during the increase in the retirement age.

“The decision was approved this year, allowing us to ensure that this supplement can be paid to AOV beneficiaries as quickly as possible, allowing them to use this additional support during the holidays,” said Larmonie-Cecilia. “I commend the group of AOV beneficiaries who brought this to our attention. As a result, we, as a ministry, could ensure that these pensioners receive additional financial support every month.”

Bron: Curacao Chronicle