Published On: Fri, Feb 15th, 2013

Government will soon introduce new Pension law

SVBWILLEMSTAD – The Government wants to speed up the implementation of the new pension law. Prime Minister Daniel Hodge hopes that the Parliament will be able to adopt this new bill before March 1, 2013. This bill has to be approved by Parliament and published by the “Curacaosche Courant” (Official Government announcement paper) to become law.

If this Bill becomes law it means that all those that are 56 or younger will retire on their 65th birthday. The retirement age as of now is 60. Those that are 57 or 58 may choose to retire on their 65th or earlier but that will be negative for the retirement fund.

The Prime Minister reiterated that it is important for the Parliament to adopt the bill before March 1. If it is adopted on later day it could mean a costly delay for the retirement fund. With unchanged policies, with the legal retirement age set at 60, the Government will not be able to pay the pension in August of this year.

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