Reader’s Letter: Baffled

POSTED: 01/22/13 12:31 PM

Dear editor,

I took notice of the Social Economic Council advice on an affordable, sustainable and equitable AOV system. I must say that I am completely confused with their recommendation to government to reduce the 45 years to 10 years to be able to receive full AOV. That recommendation is irresponsible. What baffles me most is the reason why the council wants to lower the age. I can already see the abuse and overburdening of the AOV fund and also the lost of foreign exchange. I can go along with a reduction in the amount of years from 45 to 35. This change will allow students who go abroad for studies and return to the island to work to still be able to collect a full pension when they reach the pensionable age. This change should not overburden the fund.
Todd Peterson

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