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Independent MP Anthony Smith has urged both sides of Parliament to work together to address the challenges facing Antigua and Barbuda’s Social Security Scheme.
Speaking during Monday’s Lower House session, Smith criticised the United Progressive Party (UPP) for spreading “misinformation” and accused both major parties of contributing to the scheme’s financial struggles.
“What the scheme needs is prudent investment to secure its long-term viability,” he said, calling for immediate action based on reports from the Social Security director.
Smith argued that the UPP had been “hypocritical” for criticising government borrowing from the scheme while also doing so when in power.
He stressed that reforming the Social Security system should not be treated as a partisan issue.
“This is a national matter that affects the most vulnerable – our elderly, sick and children,” he said. “We must rise above political noise and build a sustainable system for all of Antigua and Barbuda.”
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Because of the constant waste of social security dollars over the years and the non payment of social security deductions for a vast percentage of government employees over the years, the scheme is in dire need of money or it will not be able to pay current pensioners beyond 2030. That is why the government is so hasty and desperate about the Jolly Beach investment to see if it will bring some badly needed monies into the scheme. Even with that investment and whatever potential or failure that might occur from that, Social Security might be forced to increase the pension age to 70 as thousands of citizens reach pensionable age over the next few years and will begin to make claim to Social Security. Senior Citizens are paying dearly for all the wastage that has taken place in Social Security over the years. If some of us live to be 75 plus, we might be struggling to get a pension. Mark my words!
Again Audley, you’ve made some very valid points.
However, let me throw something more disruptive in the mix that many people have sadly overlooked.
Too many Western countries have been going down the route of raising the retirement age, but if you look very closely at these same said countries, they have wasted so much of their taxpayers money that they’ve had to find other nefarious ways to financially disrupt our lives.
Remember, these same said politicians will NEVER (and I mean NEVER) admit to their financial misgivings, disasters and mess – as many have witnessed here in Antigua.
This collective political age “retirement” scam and collaboration is only going to continue until they eventually cease to pay any of us pensions at all.
I feel sorry for the next generation of children growing up with the current crop of disruptive and financially inept globalists; because when they become adults, they’ll be asking “What was a pension?