28/11/2024
Social Security Audited Annual Reports Missing! Dr. Harris Joins Public in Demanding Accountability from Board and PM Drew
In a blistering critique, former Prime Minister and PLP Leader Dr. Hon. Timothy Harris has joined the public in demanding answers from the St. Kitts and Nevis Social Security Board and Prime Minister Dr. Terrance Drew. Speaking out at a recent PLP event, Dr. Harris highlighted the alarming absence of audited financial statements for Social Security, the National Housing Corporation (NHC), Solid Waste Management Corporation, and the St. Christopher Air and Sea Ports Authority (SCASPA).
"Accountability Is Missing Across the Board"
Dr. Harris expressed particular concern over the Social Security Board, noting that its failure to produce and publish audited financial statements since August 2022 undermines public trust in one of the country’s most critical institutions. He accused the Drew-led administration of abandoning transparency and accountability standards upheld by the previous Team Unity government.
“When we were in office, all financial and actuarial reports were current, including monthly and quarterly updates. The Social Security fund was standing strong, with over $1.7 billion recorded in the last actuarial review, and sustainability extended by two additional years. Today, we are left in the dark,” Dr. Harris stated.
Demand for Legally Mandated Transparency
The Social Security Act mandates that the Board submit an annual report on its activities to the Minister by June 30 each year. Additionally, audited accounts certified by an external auditor must be presented to the Minister and tabled in Parliament. Despite these legal requirements, no such reports have been made available for 2020, 2021, 2022, or 2023.
“Where are the reports? Why hasn’t the Prime Minister ensured compliance with the law?” Dr. Harris asked, echoing the frustrations of citizens and stakeholders.
Confusion and Contradictions from PM Drew
Dr. Harris also criticized Prime Minister Drew for making contradictory statements about the state of the Social Security fund. “One month, the Prime Minister declares the fund is in crisis; the next, he boasts about saving it and making it the most viable in the Eastern Caribbean. It’s laughable and shows ignorance about the importance of this sacred institution,” Dr. Harris said.
A Call for Immediate Action
The public is now demanding that the Social Security Board release:
Audited financial statements for 2020, 2021, 2022, and 2023.
The 14th Actuarial Report, which assesses the fund’s performance and sustainability.
Dr. Harris urged the Board and the Prime Minister to upload these documents on the Social Security website and table them in Parliament without delay. He warned that continued opacity jeopardizes the fund’s reputation and the confidence of pensioners, contributors, and stakeholders.
Reform Hinges on Transparency
With talks of reforming the Social Security fund gaining momentum, Dr. Harris emphasized that citizens must be fully informed before any changes are implemented. “Reform cannot happen in secrecy. These audited reports are critical for evaluating the fund’s viability and ensuring that reforms are in the best interests of the people,” he said.
Public Trust at Stake
As criticism mounts, the absence of audited financials has become a flashpoint for broader concerns about governance under the Drew administration. Dr. Harris’s remarks reflect growing frustration over the lack of transparency and accountability in the management of statutory bodies.
The public now waits for action, as trust in one of the nation’s most vital institutions hangs in the balance.
