The Pension Paradox

The Pension Paradox

2 November 2025

On Friday, October 31, 2025, an extensive group of AOV recipients (pensioners, by Curaçaoan standards) gathered in front of the Ministry of SOAW to demand the legally mandated indexation of their AOV benefits. Their protest was entirely justified — it’s not a favor they’re asking for; it’s their right. The AOV is low, inflation is high, and pensioners have quietly become the new poor — probably the largest group of poor people on the island.

What struck me, though, was their timing: they chose to protest at the hottest hour of the hottest time of the year — and, unsurprisingly, suffered from the heat. To make matters worse, the minister scheduled their meeting for two o’clock in the afternoon.

Still, the protest can be called a success: on camera, the minister acknowledged that pensioners do have this right. But how did we get here?

The truth is, after the introduction of the AOV decades ago, we’ve done little to develop our broader pension system. A large portion of the population depends entirely on the AOV — it’s their only form of pension, and it has been that way for generations. For years, we’ve been talking about pension reform, but talk never turned into action.

Earlier in 2025, the Parliament finally approved the General Pension Law — a long-awaited step forward (Paradisefm, 2025; Persbureau Curaçao, 2025). Yet, months later, the law still hasn’t been published and therefore hasn’t taken effect.

But here’s the uncomfortable truth: among those protesting today are people who once held positions of power — people who could have changed the system back then but didn’t. And now, they are its victims. The same pattern applies to those in charge today.

So I say: fix it now — not just for your parents, but for yourself. Time flies, and before you know it, you will be the pensioner standing in the sun.

Miguel Goede

References

Paradisefm. (2025, October 31). Fractie MAN/Pin: Onze ouderen hebben recht op pensioensverhoging. Paradise FM Curaçao. https://paradisefm.cw/fractie-man-pin-onze-ouderen-hebben-recht-op-pensioensverhoging/

Persbureau Curaçao. (2025, October 31). Fractie MAN/Pin uit felle kritiek op de manier waarop de regering omgaat met de ouderen en het pensioenrecht [Facebook post]. Facebook. https://www.facebook.com/persbureau.curacao/posts/fractie-man-pin-uit-felle-kritiek-op-de-manier-waarop-de-regering-omgaat-met-de-/1319711843492497/