Old-age Pension
What is the old-age pension (AOV)?
The old-age pension ‘Algemene Ouderdomsverzekering or AOV’ is a social insurance that covers the financial consequences of old age. The insured person is entitled to this pension starting the first of the next month after the date on which the pensioner reaches the age of pension. As of the 1st of January 2015, the pension age is 60.5 years. Every year the pension age will increase by six months until January 1st, 2024, when the pension age will be 65 years.
| Date of Change | For those born on or between | New retirement age |
| 1st January 2015 | 1st January 1955 and 30th June 1955 | 60,5 years |
| 1st January 2016 | 1st July 1955 and 31st December 1955 | 61 years |
| 1st January 2017 | 1st January 1956 and 30th June 1956 | 61,5 years |
| 1st January 2018 | 1st July 1956 and 31st December 1956 | 62 years |
| 1st January 2019 | 1st January 1957 and 30th June 1957 | 62,5 years |
| 1st January 2020 | 1st July 1957 and 31st December 1957 | 63 years |
| 1st January 2021 | 1st January 1958 and 30th June 1958 | 63,5 years |
| 1st January 2022 | 1st July 1958 and 31st December 1958 | 64 years |
| 1st January 2023 | 1st January 1959 and 30th June 1959 | 64,5 years |
| 1st January 2024 | From 1st July 1959 | 65 years |
Who receives the old-age pension?
Every person insured in Aruba for the old age pension can apply for the old age pension upon reaching the pension age. To be an insured person, the person must have lived in Aruba between the age of 15 and the pension age.
How much is the old age pension?
- For a married couple living together, the old-age pension is a maximum of Afl. 2.046,- per month or Afl. 1.023,- each person.
- For a single person, the maximum old-age pension is Afl. 1.215,- per month.
- For a married person not living together or a non-married person living together, the old-age pension has a maximum of Afl. 1.023,- per month.
Every year a pensioner that is entitled to a pension in September receives a Christmas bonus “Kerstbonus” in December. The Christmas bonus is 75% of what the pensioner receives during September and is paid on top of the December pension.
What day is the old-age pension paid?
SVb pays the old-age pension at the beginning of each month, so every month SVb pays the pension in advance. The payment dates vary between the days 2, 3, or 4 of each month.
All the planned dates of pension payment can be viewed here:
https://www.svbaruba.org/pension/pension-payment-days-pensioen-aov-aww/?lang=en
Pension Reduction
To receive the maximum pension amount, a person must live in Aruba from 15 until the pension age. Each year the person lives abroad, it is reduced between 2% and 2.18%. The percentage depends on the period, the number of years the person lived abroad, where the person lived, and their marital status.
How can I apply to receive the old-age pension?
Applications are done through the SVb Pension portal MiPensioen:
Open https://pensioenen.svbaruba.org and perform the following steps:
- Register as a new user: complete the following process to create a new account for the MiPensioen portal. Please note you must have a valid email address.
The password must be six characters or more and must have at least:- One capital letter (A-Z)
- A lower case (a-z)
- A number (0-9)
- A unique character, for example: (! @#$%*?)
- When the registration process is finished, the system sends a confirmation email. Check the spam or junk folder if no email was received.
- After the account is confirmed, you can log in with your registered username and password.
- In the main menu, find the option to fill out a new petition. Complete this process.
To complete the petition, you need the following digital documents:
- A valid passport, driver’s license or identity card. Preferably present the ID card (cedula) to SVb to take note of the identification number, which will speed up the census control process.
- An official document with the bank account number.
The person applying for a pension after reaching the pension age will receive pension backpay for no more than one year before the application date.
Additional requirements for those living abroad
If the person applying for the pension does not live in Aruba or the Netherlands, they are obliged to give SVb a proof of life certificate (Attestatie de Vita or written proof that the person is alive). If the person is married and applies for a married couple pension, they must also submit a proof of life certificate of their partner.
After the application has been approved, the person living abroad must send a proof of life certificate every three months. SVb does not accept a copy of the proof of life certificate. Pensioners living abroad can submit the proof of life certificate at:
- In some cases at a SVb in the former Netherlands Antilles.
- In some cases at a Dutch embassy.
The proof of life certificate is obtained at a government office, lawyer or notary.
Personal change
In case of a change in the personal situation, the pensioner is obliged to notify SVb of this change within two weeks in writing. These changes include but are not limited to:
- Change in personal data (address, telephone number, bank account).
- In case of going to live abroad or re-establishment on Aruba.
- In case of passing away of the pensioner’s spouse.
- In the case of marriage.
- In case of divorce or separation.
Changes in a personal situation may have consequences on the pension amount. The pensioner is obliged to inform SVb of any change in their status. Should SVb pay out pension unjustly, SVb has the right to reclaim the unjustly amount paid.
Burial expenses
When a pensioner passes away, SVb contributes to the funeral expenses:
- Married pensioner: SVb pays a maximum of Afl. 3,471,-.
- Single pensioner: SVb pays 3X the amount of his monthly pension.
To receive the burial expenses application must be made within 30 days after the date of death. In case SVb unfairly pays one month or more of pension after death, this amount is reduced from the total amount of burial expenses. In case the deceased is insured for burial expenses, SVb will partially cover the burial expenses.
Read more about passing away of a pensioner here:
https://www.svbaruba.org/pension/passing-away-of-pensioner/?lang=en
Termination of pension
When a pensioner passes away, their pension is terminated immediately if the pensioner is receiving a single pension. Any widow, widower, or deceased pensioner’s family is encouraged to contact the office as soon as possible after the passing away of the pensioner. SVb will continue payment of the deceased’s pension up to three months after death if the deceased was married and living together. In some cases, the widow/er must apply to SVb to receive the widow or old-age pension.
More information
For more information, contact the Pension Department through our contact form: https://www.svbaruba.org/pensioen/contact-pensioenen/.
