WILLEMSTAD--Cura�ao's Council of Ministers has approved the increase of the pension age from 60 to 65, based on the recommendation that looked into the long-term viability of the financially-troubled old age pension AOV fund.
Everyone who was 57 or younger on January 1 will now receive the full pension when they reach 65, while those 58 and older still get it at 60. The law does allow people to retire earlier, but their AOV will be less if they do so.
Government also agreed to increase the amount involved to a NAf. 1000 per month for recipients who are solely dependent on it. At the moment these people are getting NAf. 834 in pension plus a separate allowance of NAf. 130 from the Ministry of Social Development, Labour and Wellbeing, for a total of NAf. 964.
The same committee has been asked to come up with a proposal for mandatory pension insurance on the island by June 1.
Source: http://www.thedailyherald.com/islands/1-islands-news/24655-cabinet-increases-pension-age-to-65-.html
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