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 social charges represent between 25.25% and 27.5% of the base salary, of which the employee pays 5 percentage points and the employer 20.25 to 22.5 %, based on a maximum salary.

All premiums and maximums mentioned here are as of January 1, 2009.

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 9.5% of the annual income, of which the employer pays 7.9% and the employee contributes with 1.6% 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
www.azv.aw

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 13.5% of the annual income, of which the employee contributes with 4% and the employer with 9.5%. The maximum annual employer's contribution amounts to Afl. 5,187, which is related to a maximum annual income of Afl. 54,600. In case of a self-employed, the contribution is 13.5%. The maximum annual contribution of a self-employed amounts to Afl. 7,371. (As of January 1, 2009)

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 (as of 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). 

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


Social Security employer's contribution as of January 1, 2009