Once again it is confirmed that the decisions taken by MEP were responsible and helped create a strong financial foundation for Aruba.
This week the government of AVP–FUTURO announced relief for pensioners. It should be remembered that this benefit is possible thanks to the BBO at the border, which generates additional revenue that strengthens the AZV fund. Since August 2023, the AZV fund has been reinforced by the revenue from the BBO at the border, which has contributed to the approximately 100 million florin that the BBO at the border brings into the government coffers. This extra money gives AZV the financial stability to absorb the cost of the usual 5% AZV premium that SVB normally pays for pensioners with a pension below 30,000 florin per year.
Because SVB no longer has to pay the AZV premium for these pensioners—which previously remained in the SVB fund—those funds can now be used to increase retirement pensions. Thanks to the additional revenue from the BBO at the border, AZV has been strengthened and financial room has been created to provide benefits for SVB pensioners.
The same border BBO that was heavily criticized not long ago by Ministers Mervin and Eman as a measure that burdened the people is, today, something they appreciate and strongly support. Now these ministers can no longer deny that the decisions MEP took were responsible and based on financial realities, even if they were not popular at the time.
MEP always considered the welfare of pensioners. Even during times when Aruba’s financial situation was not strong, MEP introduced various structural fiscal changes that helped pensioners and strengthened our financial system. For example, MEP lowered the AZV premium percentage on the first part of income, reduced tax burdens for pensioners, increased retirement pensions for both single and married pensioners, and increased the reparations allowance, among other measures.
Additionally, MEP left behind a stable public finance foundation, which is the financial basis that makes it possible for this type of social assistance to be maintained and even expanded. Once again it is confirmed that the decisions made by MEP were responsible and created a strong financial foundation for Aruba.
MEP will continue to work from the opposition to defend the interests of the people and ensure that pensioners continue to receive the respect and security they deserve.