{"id":251759,"date":"2025-09-29T09:05:32","date_gmt":"2025-09-29T13:05:32","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=251759"},"modified":"2025-09-29T10:10:53","modified_gmt":"2025-09-29T14:10:53","slug":"social-security-director-details-how-arrears-mounted-from-plm-era-escalated-under-upp-and-are-now-being-restructured-by-ablp","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/social-security-director-details-how-arrears-mounted-from-plm-era-escalated-under-upp-and-are-now-being-restructured-by-ablp\/","title":{"rendered":"VIDEO: Social Security Director Details How Arrears Mounted from PLM Era, Escalated Under UPP, and Are Now Being Restructured by ABLP"},"content":{"rendered":"
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Director of Social Security David Mathias<\/a> has provided a detailed account of the scheme\u2019s debt and management, addressing its historical buildup and the steps taken by successive governments. <\/p>\n\n\n\n

Speaking on Pointe FM\u2019s Browne and Browne<\/em> show over the weekend, Mathias outlined how arrears mounted from as early as the PLM administration, escalated during the UPP years, and are now being restructured under the current ABLP government.<\/p>

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Mathias explained that by the end of 2003, before the UPP came to office, Social Security<\/a> was already owed about $366 million. <\/p>

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That figure grew by $127 million during the UPP\u2019s tenure, reaching nearly $550 million by 2010, consolidated into an MOU involving a bond and asset swap. <\/p>\n\n\n\n

He contrasted this with the current administration\u2019s record of reducing the bond, transferring assets, and introducing reforms aimed at securing the scheme\u2019s future.<\/p>

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Watch the full segment from Pointe FM below.<\/p>\n\n\n\n

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