Leader of the United Progressive Party (UPP) Jamale Pringle has proposed a “win-win” Social Security investment programme, aimed at increasing returns for contributors while financing national development projects.
Addressing supporters at a campaign rally, Pringle said the plan would see Social Security funds invested more strategically to deliver stronger financial returns, ensuring improved pension payments and long-term sustainability of the system.
He indicated that the approach would prioritise investments within Antigua and Barbuda, allowing the fund to support economic activity while generating income for beneficiaries.
The proposal is designed to ensure that contributors benefit both directly and indirectly, with Pringle arguing that Social Security resources should be used in ways that “work for the people” and not remain underutilised.
Under the plan, investments would target productive sectors capable of generating employment and economic expansion, creating a cycle in which national development strengthens the fund, and the fund in turn supports the population.
Pringle also raised concerns about the adequacy of current pension levels, suggesting that improved investment performance is key to delivering better outcomes for retirees.
While he did not identify specific projects, he stressed that any investment decisions would be structured to balance risk and return, protecting contributors’ funds while maximising benefits.
The Social Security proposal forms part of the UPP’s wider campaign platform, which has focused heavily on economic relief, income security, and improving the standard of living for workers and pensioners.
Pringle said the initiative would ensure that Social Security becomes a more active driver of economic growth while delivering meaningful returns to those who depend on it.
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Editor, you took the time to write a lovely article with quotes/paraphrasing just to state “at a campaign rally” as the source? Like come on.
From what I got from this is that they will Invest into SS but it’s not stated where that money will come from or a bit vague for my liking so I’ll wait/ look for more details on that.
@Young Antiguan Communist you are off point: Pringle is proposing to use Social Security money to invest in projects; that’s not what Antigua needs. Antigua needs to invest monies in Social Security and not the other way around. What ABLP has done is to use Jolly Beach as an investment in social security (ABLP did not take any of social security’s money to invest; the invested the government’s asset to increase social security resources). Pringle needs to wheel and run and come again cause his plan will deplete Social Security’s resources and when they do not have the money to pay people monthly, a wah he go tell de people? His plan will destroy the Fund.
How this could work in numbers
Your pension – $15000.00
Land cost. – $12000.00
Payment. – $18000.00
Net Income. – $ 6000.00
Failure to pay will result in no Pension when due.
Loss to Social Security is zero.
Boy Pringle, you got Lamin on here backfoot. He a commit to community centers and clinics in her first year, but why don’t he do it now? Bang he arf Pringle, DEM TOO LIE
@Gordon A R Edwards, Thanks I see I misread. In that case I do not understand this proposal I do agree that money should be invested into SS and confused who they trying to appeal with this. Example of one of the reason why people see UPP as a joke also ironic because that was augment they had when they opposed the Jolly harbour project and in my eyes they lost the plot of being progressive in any sense.
@Gordon My understanding is that the Government owed Social Security significant sums related to Government bonds and Social Security contributions and instead of paying the amounts (which are Social Security’s assets), the Government did a set off to dump the dying physical asset Jolly Beach on Social Security. It’s an accounting transaction, therefore, the Government did use Social Security’s assets, again, if my understanding is correct.
At the very least, I’m not claiming how it was handled as fact, and unless you were directly involved, you shouldn’t either.
@the Accountant please check your information. Show me when Jolly Beach is a dying asset. I hope you have the honesty to acknowledge the benefits of Jolly Beach when the returns start to pay off. UPP has a history of investing social programs money in lost causes like CLICO. So Accountant because you cannot speak with authority on this matter with Jolly Beach doesn’t mean that I cannot. Enough said.
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