St. John's 31°C Mostly clear

Antigua News
Live
Antigua and Barbuda

WATCH: Government to make Social Security Scheme major investor in Jolly Beach Resort

By

Published
Acting Press Secretary Maurice Merchant (Photo by state media)

In a novel attempt to bolster the long term viability of Social Security, the Government of Antigua & Barbuda is planning to make Social Security Scheme an investor in the Jolly Beach Resort redevelopment plan. Director General of Communications in the Office of the Prime Minister, Maurice Merchant, communicated the new plan at the weekly Post-Cabinet Press Briefing on Thursday.

“The Attorney General has been instructed immediately to commence work on looking at the various legislations that will need amendment to give Social Security Scheme authorization to participate in investments”, Merchant said.

whatsapp-group-names-for-family-friends (1)

The Director General stated that the government did not believe contributions alone from workers in Antigua and Barbuda was enough to keep Social Security viable for years to come.

“With more individuals living longer, it puts a bigger burden on the Scheme, and so contributions become less with retirement”, he said. “Creating an investment portfolio for Social Security Scheme is a novel idea; it is practiced throughout the world.”

This story was first published by Antigua News on : antigua.news/2025/06/13/government-to-make-social-security-scheme-major-investor-in-jolly-beach-resort. © 2025 Antigua News. Republication without permission is not allowed.

Step 1

Add Antigua.news to your Home Screen

✕ antigua.news ⋯ Open in Safari Copy link Share…

First, open this page in Safari

You are reading inside another app (Instagram, Facebook…). Tap ⋯ at the top right and choose Open in Safari (or Open in browser).

No such option? Copy the link, open Safari and paste it in the address bar.

⚙️ Settings General › Software Update

Update your iPhone first

Alerts need iOS 16.4 or newer. Open Settings → General → Software Update and install the update. You can still add the icon now: tap Next.

‹ antigua.news ⋯

Tap the ⋯ button

It is at the bottom right of Safari, next to the address bar. Don't see the bar? Scroll up a little.

Share Add Bookmark New Tab Find on Page

Tap Share

It is the first option of the menu, with a square-and-arrow icon.

antigua.news ‹ › ▢ ⧉

Tap the Share button

The square with an arrow pointing up, in the middle of the bar at the bottom (on iPad: at the top right).

antigua.news

Tap the Share button

The square with an arrow, at the right of the address bar at the top. (Firefox: tap ☰ at the bottom, then Share.)

Copy Add to Reading List Add to Home Screen

Tap Add to Home Screen

Scroll down the list to find it (icon: a square with a +). Not there? Tap Edit Actions or View More at the bottom.

Cancel Add to Home Screen Add Antigua.news Open as Web App

Keep Open as Web App on, then tap Add

The switch must be green — without it, alerts can't work. Then tap Add at the top right.

Cancel Add to Home Screen Add Antigua.news An icon will be added to your Home Screen so you can quickly access this website.

Tap Add

At the top right. If you see an Open as Web App switch, leave it on (green).

Antigua.news

Close the browser and open Antigua.news from its new icon

Go to your Home Screen: the Antigua.news icon is there now (swipe left if you don't see it). Alerts only work when you open us from this icon.

“Antigua.news” Would Like to Send You Notifications Notifications may include alerts, sounds and icon badges. Don’t Allow Allow

Tap 🔔 Turn on alerts, then Allow

In the app you will see a red box asking to turn on alerts: choose your sections, tap the button, then tap Allow. That's it — breaking news will reach you even with the phone locked.
Orville Charles

About the author

Orville Charles grew up in Potters Village, Antigua. After graduating from the University of Baltimore with a degree in Digital Communication, he spent years in the Social Work field, serving vulnerable populations and doing community outreach. He is an avid student of History, with many years of freelance experience in Multimedia.

Read our editorial standards and corrections policy. Spotted an error? Contact the newsroom.

Comments (6)

  • Rochelle June 13, 2025, 3:00 PM

    This is the same social security that cannot pay us our benefits on time. Remember this
    Reply

  • Teacher for Life June 13, 2025, 5:31 PM

    While I see the need for bolstering/ funding social security, I dont know about this move since and am staunchly against any form of privatization or investments. It’s risky and greed might just cloud good judgement, but I hope those in authority think long and hard and do thorough analyses before making any final decisions.
    Reply

    • AAB June 13, 2025, 9:17 PM

      I AGREE With You “Teacher for Life” …… What is THE HASTE!!!!! Wasn’t $$$$$ just Taken From OUR SOCIAL SECURITY SCHEME When THIS ABLP ADMINISTRATION Took Office Since 2014???? HOW MUCH $$$$$ Does the CURRENT (And PAST) ALP Administrations OWE The Social Security Scheme — Contributions taken from Workers that Have NOT BEEN PAID IN TO THE SOCIAL SECURITY SCHEME ….. For YEARS????? I Know For SURE That Medical Benefits SAVINGS was GUTTED Shortly after THIS ABLP ASSUMED THE ADMINISTRATION OF 🇦🇬 in 2014!!!! ….. THIS WAS VERY WRONG!!!! Can Someone Remind Us if Social Security Funds Were ALSO Taken During THIS (2014 – The Present) ABLP Administration???? THIS IS VERY SERIOUS …… And Smells of GREED As Mentioned by Teacher for Life!!! Without Even CONSULTING US THE PENSIONERS, The ATTORNEY GENERAL Has Been INSTRUCTED To Commence Work To AMEND Various Legislation!!!!! THESE Actions are HASTY AND RISKY …… It is OUR (Pensioners) Hard Work EARNINGS That is Being PLACED AT RISK!!!! Something is NOT RIGHT WITH THIS SITUATION!!!! I am BEGGING Someone Who Has Some INFLUENCE AND KNOWLEDGE About The LAWS Connected With Our Social Security Funds, And The Recent DECISIONS Taken To IMPROVE The FUNDING OF OUR SOCIAL SECURITY SCHEME to Step In And Seek To HELP US PENSIONERS UNDERSTAND EXACTLY WHAT IS INVOLVED IN INVESTING ALL WE HAVE TO LIVE ON IN THIS MANNER!!! THIS IS NOT BEING FAIR TO US PENSIONERS!! Help! Help!! Help!!!
      Reply

    • AskingAsking June 14, 2025, 11:59 AM

      I have a question for the government of the day. The money that the ABLP loaned from or took from social security have they replenish?
      Reply

  • Informed citizen June 13, 2025, 5:38 PM

    This is a slippery slope. If every struggling business can tap into our Social Security funds, what will be left for actual retirees? This sets a dangerous precedent without clear guidelines and strict governance.
    Reply

  • Juju Bee June 15, 2025, 1:02 PM

    I’m not sure how I feel about that as yet. Let it sink in
    Reply

Submit a comment

More from Antigua and Barbuda

View section

By clicking "Accept", you consent to our website's use of cookies to give you the most relevant experience by remembering your preferences and repeat visits.

Cookie Settings

Privacy Summary

This website uses cookies so that we can provide you with the best possible user experience. Cookie information is stored in your browser and performs functions such as recognising you when you return to our site or helping our team understand which parts of the site you find most interesting and useful.

More information in Privacy Policy