Prime Minister Gaston Browne has reaffirmed his government’s commitment to clearing outstanding Social Security arrears, emphasizing that the fund remains robust with substantial cash reserves. Speaking on the Browne and Browne Show, Browne highlighted his administration’s efforts to reduce inherited liabilities, including paying down a $330 million bond to approximately $218 million. He announced a new bond deal aimed at settling the remaining $100 million owed to the Social Security Scheme. Browne stressed that his government has consistently paid full premiums since 2014, unlike previous administrations that made partial payments based on estimates. However, he acknowledged that monthly contributions became inconsistent following the COVID-19 pandemic. Despite these challenges, Browne dismissed concerns about the sustainability of pensions or benefits, noting that the scheme maintains liquidity of $35 to $40 million. His remarks come amid opposition accusations of financial mismanagement, which Browne countered by asserting that his administration is the first to address decades of accumulated arrears effectively.
