Former Finance Minister Harold Lovell has defended the United Progressive Party’s (UPP) record on Social Security, contrasting it sharply with what he described as decades of financial neglect by the Antigua and Barbuda Labour Party (ABLP).

Speaking at a UPP town hall meeting at Freedom House on Monday night, Lovell presented figures showing that during the UPP’s 10-year term in office, the government paid EC$122.7 million into the Social Security Fund—more than ten times the EC$11.9 million contributed by the ABLP government over a 28-year period.

“For 28 years, the Labour Party treated the Social Security Fund as a source of cash, not a protected trust,” Lovell said. “They borrowed from it, failed to pay contributions, and left the fund in crisis. In contrast, the UPP acted responsibly and paid what was owed.”

Lovell accused successive Labour administrations of creating massive arrears and leaving the pension system nearly insolvent by 2004. He cited a total debt of EC$464 million owed to the fund by the Labour Party government, including unpaid contributions, defaulted bonds, and treasury bills.

“These are not opinions—these are facts,” he told the audience. “When we came into office, we faced a broken system. We made hard decisions, introduced personal income tax to stabilise revenues, and ensured Social Security could meet its obligations.”

The former minister also reminded attendees that the Social Security Fund was never meant to be used for electioneering or political projects, pointing to the fund’s origin as a progressive reform established in 1973 under the PLM administration.

“We respected the purpose of the fund,” he said. “We understood it was not the government’s money. It belongs to the workers of this country—pensioners, the sick, the disabled, and mothers. Our record reflects that respect.”

Lovell’s remarks come amid growing controversy over a proposed government plan to invest Social Security funds into the Jolly Beach Resort—a move he strongly opposes as risky and mismanaged.

“After mismanaging the country’s finances and failing to account for NAMCO, the government now turns to Social Security for another bailout. It’s disgraceful,” Lovell said.

He urged the current Social Security Board to stand firm and ensure the fund is not further compromised. “Do not repeat the mistakes of the past. Protect the contributors. Protect the pensioners. That’s your duty,” he said.