What is an IOAW
The abbreviation IOAW stands for Inkomensvoorziening Oudere en gedeeltelijk Arbeidsongeschikt Werkloze werknemers. It is a so-called social provision that a person can apply for when he or she was born before January 1, 1965 and became unemployed after the age of 50. The IOAW benefit is a subsequent benefit after a WGA benefit or WW benefit has expired. In short, this benefit supplements the family income up to social security level. This benefit is subject to the cost-sharing standard.
Level of an IOAW
The amount of welfare benefits is set by the government and depends on age and situation. With the IOAW, a person does not have to make up his own assets. This is also the difference from the regular welfare benefit from the Participation Act. CBS registered 22,340 people who were using this scheme in June 2021.
