Parliament Set to Discuss Social Security Investment Plan for Jolly Beach

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Parliament Set to Discuss Social Security Investment Plan for Jolly Beach

The government’s plan to channel Social Security funds into the Jolly Beach Hotel will take centre stage this morning when the House of Representatives meets at the Parliament Chambers.

Prime Minister Gaston Browne is championing the move, arguing that it will not only protect the long-term future of the Social Security Scheme but also deliver wider economic benefits.

The scheme, which has struggled in the past to meet monthly pension payments, has long been under financial strain.

Browne insists the Jolly Beach investment offers a solution. The hotel, currently profitable, would give Social Security a reliable stream of income, while placing a key tourism property in the hands of the people of Antigua and Barbuda, the fund’s actual owners.

Still, the proposal is expected to draw sharp debate, given the sensitivities around using pension funds for business investments. The Opposition UPP has previously warned that such ventures, while potentially lucrative, expose Social Security to risks that could backfire if the hotel’s performance falters.

Parliament Set to Discuss Social Security Investment Plan for Jolly Beach

Also on today’s agenda are amendments to the Citizenship by Investment Act, aimed at satisfying recommendations from the United States and the European Union.

This story was first published by Antigua News on : antigua.news/2025/08/25/parliament-set-to-discuss-social-security-investment-plan-for-jolly-beach-1. © 2025 Antigua News. Republication without permission is not allowed.

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Shermain Bique-Charles

About the author

Shermain Bique-Charles is an accomplished journalist with over 24 years of dynamic experience in the industry. Renowned for her exceptional storytelling and investigative skills, she has garnered numerous awards that highlight her commitment to journalistic integrity and excellence. Her work not only informs but also inspires, making her a respected voice in the field.

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Comments (5)

  • Patricia August 25, 2025, 1:41 PM

    Pension money must be handled with the highest level of care. If Jolly Beach fails tomorrow, who will guarantee our seniors get paid? That’s the real question.
    Reply
  • Yvonne August 25, 2025, 1:41 PM

    The bigger issue is governance. Who will manage Jolly Beach on behalf of Social Security? Without strong management, all the promises mean nothing.
    Reply
  • Informed citizen August 25, 2025, 2:48 PM

    This is a serious matter. If Social Security money is being invested, the government must guarantee that pensioners’ funds are protected. We can’t afford risky ventures with people’s retirement savings.
    Reply
  • Juju Bee August 25, 2025, 5:16 PM

    The debate was robust from the opposition, but we know that your views wont change the direction of the vote. This will indeed go through, and we may stand a better chance at making some money to sustain the scheme cause raising the pension age is not working for me at all.
    Reply
  • Can't August 25, 2025, 9:50 PM

    We just can’t trust nothing government say. This is a big gamble
    Reply

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