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17th of December 2018
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Social Security

Both employer and employee contribute to a social security plan, which provides the following coverage: health, wage compensation, accident, old age and widow and orphans benefits. The employee pays 10.1 percentage points of his salary and the employer 24.80 to 27.05 %, based on a maximum salary.
All premiums and maximums mentioned here are valid as of January 1, 2014.

General Health Insurance (AZV)
The AZV is an obligatory insurance introduced as per January 1, 2001. Everyone who is registered as a resident in the Census Office is insured with the AZV. A limited number of provisions is not covered by the AZV. For instances, the higher classes insurance in the hospital, glasses, dental care for adults, and care abroad during vacation. If you would like to be insured for these provisions, you should contact your insurance company for supplemental health insurances. The AZV premium is 11.5% of the annual income, of which the employer pays 8.9% and the employee contributes with 2.6% of his salary up to a maximum annual income of Afl. 85,000.
Each month, the premium must be withheld from the salary of those who are employed and transferred by the employer to the Tax Collector’s Office before the 15th of the following month.

Uitvoeringsorgaan AZV

Seroe Blanco 4
tel: 297 527 9900
Fax: 297 583 0977

Old Age and Widow/Orphans Insurance (AOV/AWW)
At the age of 60, every citizen is entitled to an old age pension. The contribution for the old age and widow/ orphans insurance is 14.5% of the annual income, of which the employee contributes with 4.5% and the employer with 10.0%. The maximum annual employer's contribution amounts to Afl. 8,500, which is related to a maximum annual income of Afl. 85,000. In case of a self-employed, the contribution is 14.5%. The maximum annual contribution of a self-employed amounts to Afl. 12.325 (As of January 1, 2014)

The monthly contribution has to be transferred by the employer before the 15th of the following month to the Tax Collector's Office.

Wage compensation insurance (ZV)
The employer must insure each employee earning up to an annual maximum of Afl. 54,600.00 (since January 1, 2009) for wage compensation due to illness or accident. The contribution for this insurance is 2.65% of the employee's salary and is paid fully by the employer. Employees earning more than 54,600 are not insured by the Sociale Verzekerings Bank (SVB). 

Accident Insurance (OV)
Regardless of his income (also if above Afl. 54,600), the employer must insure each employee for on-the-job accidents. The contribution rate is not standard, but differs from industry to industry. Employers pay between 0.25% and 2.5% of the employee's salary up to a maximum annual income of Afl. 54,600.00. (Since January 1, 2009)

The monthly contribution has to be transferred by the employer before the 15th of the following month to the Sociale Verzekeringsbank (SVB). 

Sociale Verzekeringsbank (SVB)
L.G. Smith Boulevard z/n
Phone: 297 527 2700
Fax: 297 587 5532
W: www.svbaruba.org

General Pension
On January 1, 2012 the compulsory general pension scheme came into force. This general pension is regulated in the Ordinance on general pension. The scheme applies to all employees in the private sector. The premium is at least six percent, of which both the employer and the employee each contribute three percent (1% per 2012, 2% per 2013, and 3% as of 2014). It is estimated that currently three-quarters of retirees only have the old age allowance as an income. With a general pension these people have a better income to provide for their livelihood. 

Social Security and General Pension EMPLOYER'S CONTRIBUTION as of January 1, 2014
  %  of salary
Up to a maximum year salary of Afl. 

Employer's Maximum premium up to Afl. 

AOV/AWW  10.085,000 8,500 payable from 2014 up to 60 yrs, 2015 up to 60.5, and so on and in 2024 up to 65 years. 

0.25 to 2.50

136.50 to 1,365.00

General Pension

Total24.80 to 27.05  17,648.00 to 18,876.00 + 3% of salary for general pension