AOV benefit

The local old age insurance benefit (Algemene Ouderdomsverzekering or AOV) on Saba in 2015 was raised by 2.6 percent, from 8,034 US dollars in 2014 to 8,424 US dollars. On the other hand, prices went down by 0.4 percent in 2015. The increase in real terms was therefore 2.2 percent, i.e. almost equal to the median change in purchasing power for people on Saba in households mainly depending on social benefits in both 2014 and 2015 as well as the group of people with a main breadwinner aged 60 and over. For these AOV benefit recipients, the actual change in purchasing power is almost entirely due to the rise in their benefits in real terms.
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