Pension payments delayed

15

The Antigua & Barbuda Social Security Board (ABSSB) wishes to apologise for the undue delay of pension payments for July 2021.

The ABSSB is heavily dependent on current contributions to fund current benefit payments and operations.

Further, the ongoing COVID-19 pandemic continues to impact economic activity which has implications for ABSSB operations.

The months of July to November are generally slow contribution months and we are now in that slow period.

The inconvenience created by delayed payments to our contributors and beneficiaries is not one that we take lightly.

We do remain resolved in our commitment to meet all outstanding payments as funds become available.

Your continued forbearance is anticipated and will be greatly appreciated as we all continue to endure these unprecedented times.

Support Antigua Newsroom from as little as $5 – it only takes a minute. If you can, please consider supporting us with a regular amount each month. Thank you.

15 COMMENTS

  1. Lennox Weston don’t you think it’s about time you take a far closer look as to how EVERY DOLLAR of the fund is spend? I’ve been through exercises like this in 2008 when we had the global financial crises. You need to keep a tight rein on things. No one in Social Security has sleepless nights because of this. Because the Director will quote you the Act that says the Government is responsible for any shortfall of the funds. And especially since the government technically still owes the funds halve a billion. You guys are falling asleep on the job when it comes to Social Security. Is the board still being paid for doing absolutely nothing? That money could pay quite a few pensioners that depend on that single income. The board members do not depend on this income. Too much money drain in rent payments, while property that could be leased out is sitting there not earning a dime. A done talk to you.

    • @From The Sideline…let me clear my thoughts😃😃😃yes, what you’re suggesting would be so, so nice and especially if it extends to #ALL Government agencies.

  2. All male cow feces they’re talking here, but I’m not shedding one single tear for some of these pensioners. They would still give their right arm for this government even after being treated this way. Who can’t hear will feel, see.

    • Give right arm to Government, not this woman here. My mind is changed along time. I am suffering more than ever.

  3. All pensioners should be and must be paid every damn month,no excuses. They contributed their hard earned cash into Social Security every pay day. The Administrations over the years pilfered the people money from Social Security. The Government should be paying those monies back to the Scheme to take care of the Pensioners. This is a damn shame and a disgrace. Those in leaderships get their pensions and paychecks every damn month. So why are those poor Pensioners of Social Security getting “dung” thrown on them monthly?

  4. I’m confused, didn’t SS recently increase the retirement age and contribution percentage to avoid this happening? I’m sure I’m not having a senior moment.

  5. We are hearing the same complaint every year from Social Security….. Covid is now getting the blame. What are the hierarchy putting in place to counteract such predicament when there is a shortfall of contributions? One hand can’t clap & depending on having eggs in one basket is really ridiculous.
    It is full time for the big wigs to begin to think outside of the box and create a contingency plan for times like this. It is grossly unfair for pensioners suffer and you & your family are enjoying a upscale life

  6. THOSE POLITICIANS ARE SO SELFISH,GUTLESS,SPINELESS AND HEARTLESS.AS LONG AS THEIR POCKETS AND THOSE OF IMMEDIATE FAMILY MEMBERS AND CONCUBINES ARE FULL,TO HELL WITH ALL OTHERS.I HAVE NOT HEARD ONE OF THEM SPEAK OUT ON HOW THE LATE PAYMENTS ARE AFFECTING THOSE PENSIONERS.PENSIONERS GIVE UP YOUR PRIDE AND GO OUT THERE AND PICKET. JUST WEAR YOUR MASKS AND SOCIAL DISTANCE,STANDING IN GROUPS OF 10 AS THE LAW DICTATES.ENOUGH IS DAMN WELL ENOUGH.

  7. We all know that government is continuous. But it seems like we hold this government accountable for the sins and bad management of all the previous governments. Yes they asked for the job, but fair is fair. This is not a problem of their making. And we need to impress on them to solve this problem. In my opinion in order for us to ensure what happened before never ever happens again we need to look at the Act and amend it. And put things in place to allow better oversight from an independent body. And to make it a crime if any finance minister is found to have borrowed monies from the fund. We need to think of the funding the same way as we fund the CCJ. After government has make good on their contributions, they should not be held accountable for any future shortfall. However, anyone, even the government should be held accountable if they fail to make their monthly contributions. Presently the private sector owes Social Security Millions of dollars, but you never hear about that. Especially the contractors. And Social Security is not doing their job in going after these funds. And they seem to have a legal person double dipping. Meaning she get paid for being a legal corporate person and when she collects outstanding funds, she gets a percentage of the collection. I don’t see how that can be right. It seems that everyone is in it for themself. We need to have strict control of how much monies can be spent on operating expenses. Salaries should be capped. Budgeted expenses should be strictly adhered to. Any un-approved expense should have consequences for management. And I would suggest that the payroll be paid from the consolidated fund at the Treasury. Making ALL the staff public servants. Note that the Director and his deputy are already public servants. The administration of the fund should therefore be a service provided by the government. This will leave more monies available for paying of pensions and benefits. We need to set proper investment policies of the funds. Because what we see now is a fund with lots of none-performing assets. Lands, buildings etc. What can Social Security do with an Airforce Base. Lease it out to the Defense Force? How much can and will they pay. If they, Social Security, had real control over that asset they would have kicked out the Defense Force already. And IFRS would tell you that an asset of which you have no control should not form part of your asset. Not to mention the value on the balance sheet. What we also have seen lately is Social Security liquidating certain assets below their cost value. One can call that Impairment of Asset. And I urge Gaston to look at the practice that is taken place. It doesn’t pass the smell test. Experience and good corporate governance have taught me that management should never be involved in the sale of the company’s assets. It lends itself for all sorts of underhand dealings. You need to hire an independent real estate agent to do that. Neither the Board should be involved in this. Transactions such as these should be transparent. With a bid process. Anyway. I really hope one day we will get a thorough investigation as to how the fund was managed over the years. I have given enough hints to the PM. Keep sleeping on the job as it relates to this entity.

  8. The ALP government is heartless, heartless, heartless regarding the plight of the pensioners. We must vote them out of office. The geniuses Gaston and Weston cannot find a solution. They are a bunch of jokers. We must get rid of them all.

  9. The problem that we refuse to face is that our salary is not proportional to our American counterpart (degree or not) for the same services. Yet, we pay American prices for for goods and services. And, this we have done for over 50 years! Poverty!
    Oh gosh man!

Comments are closed.