PHILIPSBURG–Persons who receive AOV/AWW pension will receive a tad more on their pension each month thanks to a decision made by Minister of Public Health, Social Development and Labour VSA Emil Lee to have the amounts indexed retroactively.
The amounts will be indexed by 2.71% as per January 1. Lee has given instruction to Social and Health Insurances SZV to execute retroactive payments to those entitled based on the new amounts. AOV and AWW recipients will most likely receive the retroactive amounts for January/February with the scheduled payment of the month of March.
The indexation number of 2.71% is the result of a comparison between the Consumer Price Index (CPI) estimate over the period August 2017 to August 2018, calculated by the Department of Statistics (STAT) and the independently measured number published by the Central Bank of Curaçao and Sint Maarten (CBCS), which was only available in December 2018. The calculation method used by the AOV/AWW taskforce to come to an indexation amount was reviewed based on the AOV/AWW law, to which legal counsel confirmed that this method is acceptable within the respective law. The central bank number gave sufficient comfort to the committee that their estimate was reasonable.
“We were able to work together within the limits of the laws to manage the needs of our pensioners. I am beyond pleased with the swift and dedicated work ethic of the taskforce to come to this resolution. It’s great to see civil servants working out of the box across ministries to quickly resolve this issue. SZV has informed me that they will start the necessary process to execute the retroactive payments in a prompt manner. Those entitled can expect to see this positive change in their payments as of March,” Lee said on Wednesday.
An AOV/AWW taskforce was assembled by Lee earlier this month to review the 2019 AOV and AWW indexation process from all angles: social, legal and execution and to ensure a workable solution that complies with the intention of the AOV/AWW laws. The task force consisted of representatives of STAT (Ministry of TEATT), Judicial Affairs and Legislation (General Affairs), Social Development (Ministry of VSA) the Secretary-General and staff members of the Minister of VSA.
Source: The Daily Herald https://www.thedailyherald.sx/islands/84845-2019-aov-aww-to-be-indexed-by-2-71-per-cent
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