Algemene Ouderdoms Verzekering (General Old-age Insurance Act)
This is a national insurance which guarantees to those who have reached retirement age a basic pension.
AOV applies to everyone, not just to employers or employees, but also to the self-employed, housewives, and students.
Insured for AOV are:
- All residents of Curaçao , regardless of their nationality – who (from March 1, 2013) have not reached the age of 65 yet. A resident is the one who lives in Curaçao, which means having the center of your life interests (socially, economically and legally) in Curaçao .
- Non residents (residing abroad) employed in Curaçao and subject to income tax in Curaçao.
- Public servants in Curaçao with the Dutch nationality living abroad temporarily, because they have worked for the Curaçao government in the Netherlands. This is the case when one has been authorized as Curaçao Minister Plenipotentiary or working at the Curaçao House in The Hague.
- fulfilling a school assignment.
(An exemption may apply to foreign employees for which a decision can be requested from the SVB.)
You can find more information about the AOV law on the SVB website.
More information about the wage limits and the percentages of the premiums can be found on the SVB website as well.