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Minster Ottley instructs SZV to no longer withhold tax/ premium debt of new or existing pension.

omarottley21012022PHILIPSBURG:---  On Tuesday, October 3rd, the honorable Minister of VSA Omar Ottley sent an urgent letter to SZV asking to review the National Ordinance old age pension and ensure that we have not taken the same course of action as our sister country Curacao. “The correspondence had been made earlier in the week with my colleague in Curacao to verify the queries pertaining to the conflict between withhold tax/ premium debt and article 18 of the National Ordinance old age pension,” said Minister Ottley.

The letter read:

Dear Mr. Carty,

Following new circumstances that have come to light and upon further review of the existing procedure of withholding tax/premium debt, of new or existing pension recipients, from pension benefits albeit that they have authorization to do so, USZV is hereby instructed to stop this practice immediately. This implies that no new withholding will be applied to new or existing pension beneficiaries. For those existing cases that which the premium debt is being withheld from the monthly pension benefit, this will also have to be stopped. A list has to be made of all cases where the premium is being withheld. This decision is based on the application of Article 18 of the National Ordinance Old Age Insurance.

“SZV has an obligation to work along with the minister of VSA to ensure that the laws of the land are applied correctly. SZV prides itself on compliance and fair and equal treatment. Upon receiving the letter from Minister Ottley, we immediately contacted our legal team to gather accurate information, and as a result, no new withholding will be applied to new or existing pension beneficiaries.” Said the Director of SZV Mr. Glen A. Carty.

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