Lovell says Social Security should get out of rented buildings to save money to pay pensioners

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Former Finance Minister Harold Lovell says the cash strapped Social Security Board of Control should not be renting buildings costing it EC$ 750,000 a year.

Lovell who is also leader of the United Progressive Party was speaking on his weekly radio programme Captain’s Corner on Progressive FM.

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21 COMMENTS

  1. Better said than done. We know how the thing set up…you have to feed the hand that feed you albeit ALP or UPP.

    • I agree with you 100%. However, he once fed us and himself therefore, if he is in that position again, that he so thrives to be, what will he do for us and the organization? Will he remember the same organization among the changes in their portfolio? Will he remember to feed you?

  2. Dear Hon. Harold Lovell, I realized that you are entitled to your opinions of the social security board and so am I. Since you have the solutions to the firms’ issues, then you should resolve them. Please provide the following instead of complaining:
    1. The land and building
    2. The funds
    3. The staff
    Hon. Lovell you once held the position of Finance Minister. What did you do in that capacity to assist the organization? Now you are not, you are crying the organization down. Remember, your pension is also at stake.

    Benajmin

    • I think what Lovell is saying shows that he like the rest of us want to make sure that we will get a pension. He is not the government. What are your questions to the government. Lovell can only suggest. The government of the day can act. Direct these same questions to them. If they can save Scotia Bank, please save Social Security. I done work hard and don’t care about the politics. Give me what is mine.

      • But was he not the finance minister when they moved into that building? Is only now he is seeing this gimme a damn break. He is playing on people’s emotions right now hoping to win the next election. He is no better than Gaston Browne and his gang.

  3. It is clear that we are headed to an economic crisis and seriously, if Social Security own all these properties why are they spending all of their money on rent. Why they not turning the Pan Am Base into rental property. Things getting worse everyday and they keep on paying late. They have to bite the bullet and do something different. Serious times call for serious measures. Liquidate before it’s too late!!!!

  4. Lovell I guess you have been reading my comments when it comes to Social Security. But you have made it a political football. Rather than to address the Management and the Board who are in charge of the day to day running of the Fund. As you yourself can quote the Act, the Director has in the past quote the same Act during your time as Finance Minister that it is not his responsibility to find money when there is a shortfall. And you know that from your own experience. Yet when you were there, you did not turn the Assets over to income earning Assets. The monies the government owed to the Funds, you turned over to a long-term bond. Earning little or no monies. So, Mr. Lovell once again you proof to be talking about figures but have no understanding how they are put together to work. And yes, in my comments I did state also that it would be better if they cut down on all these expensive rental arrangements. I mean this can give so many pensioners their monthly pension. And I also would have liked for there to be a much tighter control by the government into how Social Security spend each and every dime they collect. But you yourself know the government doesn’t really have that authority. The Director almost run the Funds supreme with the board. I therefore have suggested that we think about changing the ACT. Because I believe that if you make government responsible of finding funds for any shortfall that the fund may experience, you must also give them the authority to decide how the monies are spent. So far it has been like putting monies in a bottomless pit. And those fellows there seems to have a very good appetite in spending monies. You think they could not have gone in cheaper lease agreements? But that would have meant they would not be working in a posh environment. When ADOMS messed up with the new building they were to go in the PM tell them to stay right where they are. I think something similar should be done to the management of Social Security. They are living in luxury as if money is not a problem.
    Harold keep up the fight but leave out the politics.

  5. Mr Lovell is right. The social security board should be ashamed. They know he is right.But all of them are just yes-men and spineless.
    But wait. It will be their children and their children that will feel the effects of their decisions. All their sins will come back because of their weakness now to do what is right.
    While the children of the people who own the buildings are doing well, there will be no money for them in their old age because social security nuh have no money. They use it to pay the big man rent. Can’t believe dem and me serve the same God. Wicked set ah people.

    • Lovell should also remember that it’s he put Mr. Massiah there at Social Security as Director. He removed him unceremoniously from the Budget Department where he was instrumental working under Dr, Cort in introducing the PIT.

  6. $750,000 per annum in rents. That is a lot of dough,$62,500 per month. What a waste of liquid resources.Who are those Landlords?

    • Mr. Lovell luv take liberties with the truth. First he say the people dem wicked fu apologize for paying late, but can’t tell you wey de money dey to pay. Now him say the rent dem a pay a keep people from dem pension. Wonder wey de money go come from to fix up the property dem for them to go inns. Wey he get his figures from? Before accepting wa he say mek he show you did side work. You can’t reason wid one man dat have a daily war wid de truth. But wa me know

  7. Well well well jokes really do write themselves🤣🤣 but wait was it not under your administration Mr Lovell did social security move into the rented building. Is only now you know this 🤣🤣🤣🤣 Lovely puleseee!!!

    • That is not correct. They moved into the rented buildings a few years ago when they had to abandon their own building because of mold and asbestos. One employee got seriously ill and needed to be medically boarded. She was paid $750,000.00. She left to the USA and enjoys her life now.

  8. Ģovernment waste money. So many government ceased properties sitting there rotting. Fix up, rebuild. Merge scattered government offices paying rent. See how much money saved. Cripes! No figure head in office? THE WASTREL ADMINISTRATION. All government heads

  9. Lenox Weston needs to request monthly Cash Flow reports in order to see where Social Security is spending it’s money and if all the so called administrative and operational spending is necessary. Experience has taught me that you will be surprised how much waste you will prevent when you start reviewing these reports. And he should put a limit on how much they can spend without ministerial approval. Especially on capital items. Look at LIAT under Administration they are showing the ability to turn an operating profit. First Social Security needs to separate their income to avoid using funds earmarked for pensions and benefits and funds to be used for administrative expensive. E.G. If 10 cent of every dollar is to be used for operating expenses, Social needs to separate the funds as soon as they receive it on their bank account. It seems to me that everything is going into one pot and then they decide what they will pay first and with what priority. And one can see that the pensioners do not have the highest priority.

  10. @Sidelines: Why do you like to defend Gaston Browne to the end. Does Gaston Browne spit into your mouth.
    I have heard Gaston Browne say that no Statutory Boards should have surpluses. In my opinion it was a very irresponsible statement coming from the Prime Minister/Finance Minister of Antigua and Barbuda. He did say he was going to borrow Antigua and Barbuda out of DEBT. Perhaps if Social Security had those finances to fall back on in this guava crop. They would be able to pay their Pensioners on time.

    • You seem to not understand my comments. Not one comment above is in support of the PM. I only give him advise. And secondly you are taking his statement out of context. The ABLP government under Gaston Brown has never borrowed one dime from Social Security. Infact this administration has paid into Social Security more than any other administration. let me explain the statement the PM made. It was in relation to MBS. The country was bankrupt and WIOC was on the point to pull the plug on APUA. That would have plunged the entire country in darkness. At the same time MBS has funds sitting in the bank. He then used MBS money to pay WIOC. But that is nothing new. The UPP ensured that they controlled all the Boards of the statutory corporations and when they needed funds, they would instruct the boards to buy T. Bills as a form of investment. And when it comes to Social Security the UPP never paid their full amount into the funds. In other words, they say they never took money, but at the same time they never paid all that they owed. And when the IMF was all over them and demanded they get up to date with their subsidiary, they took the entire amount $500million that they owed the funds and made it a Bond that was never paid back. Not even the interest. Gaston thought to be much clever and took the bond and exchange that for the US Airforce Base. But that now caused an accounting reporting issue as per IFRS. Social Security has no control over the Asset and therefore cannot report this on their Financial Statement without getting a Qualification from their Auditor. Not to mention other AR issues that they have. Social Security needs to be re-organized, and the Act needs to be amended. And I do agree with you that all the statutory corporations need to be protected from Government sticky fingers. I believe Statutory corporations were setup in order for the politicians not to have to go through the Treasury for monies which they can then spend without having to go through all these budget procedures. You should know that anytime you spend monies that are not budgeted you need to get a special warrant and table that in Parliament. Your opponent will expose you in parliament for that. No wonder when the UPP left office they had not audit their books for ten years, because they had over one billion dollars in un-budgeted spending. For which they never tabled the Special Warrants in Parliament.

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