IMF Flags Social Security Sustainability Ahead of Actuarial Review
The International Monetary Fund is cautioning that long-term sustainability risks facing Antigua and Barbuda’s Social Security system warrant close attention ahead of an upcoming actuarial review.
In a concluding statement following its Article IV consultation mission, IMF staff said the review will be critical in assessing the long-term solvency of the Social Security Fund and identifying potential vulnerabilities that could emerge over time.
The Fund said that, pending the outcome of the actuarial assessment, authorities should keep a range of policy options under consideration to address any future shortfalls and preserve the system’s financial health. Maintaining flexibility, the IMF noted, will be important as economic and demographic conditions evolve.
IMF staff pointed to demographic pressures, including population aging and longer life expectancy, as factors that could place increasing strain on the Social Security system over the medium to long term.
The IMF said early planning and evidence-based policy responses would help mitigate risks, protect beneficiaries and ensure the Social Security Fund remains capable of meeting its obligations, while avoiding abrupt or disruptive adjustments in the future.
Strengthening the system’s resilience, the Fund added, would also support broader fiscal sustainability and reduce the risk of spillovers to central government finances over time.
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