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The St. Kitts and Nevis public is demanding answers as the long-overdue 14th Actuarial Report remains mysteriously absent. While the Minister for the St. Kitts and Nevis Social Security Board has finally published the 2022 and 2023 audited financial statements, this move falls woefully short of the full legal obligation. The burning question remains—where is the three-year Actuarial Review covering January 2021 to December 2023, which was due in June 2024?

This critical document is paramount for ensuring the transparency and sustainability of the Social Security Fund. Its unexplained delay raises red flags about the government’s commitment to accountability. Under the former Team Unity Government, audited financial statements, monthly accounts, and actuarial reviews were always up to date, ensuring public trust and compliance with legal mandates. So why has this crucial review not been published on schedule?

Could it be that the Board and management have only now finalized the 2023 audited accounts—months behind schedule? Or is there something within the 14th Actuarial Review that the current administration is deliberately keeping from the public eye? These pressing concerns demand immediate clarification.

Financial data from 2015 to 2021 under Team Unity’s stewardship paints a picture of stability and growth. The Social Security Fund’s total net assets surged by over $300 million, increasing from $1,404,182,752 in 2015 to $1,732,136,874 by 2021. Each year during this period, the Fund realized surpluses, reinforcing the strength and reliability of the financial framework.

However, recent reports tell a different story. The newly published 2022 and 2023 audited financial statements reveal a shocking reversal—a significant loss in one year followed by an almost identical surplus the next. What explains this drastic financial fluctuation? Could it be a result of inflationary pressures affecting overseas investments, or is there a deeper issue at play?

The lack of clear and detailed analysis on these discrepancies only fuels further speculation. The public deserves transparency, and the Board must provide an immediate and comprehensive explanation. The Actuarial Review is not just a bureaucratic requirement—it is a crucial instrument that scrutinizes the fund’s viability and offers key recommendations for its future sustainability.

With public trust at stake, the government must act now. The 14th Actuarial Review must be published without further delay, and a full account of the financial discrepancies in the 2022 and 2023 reports must be provided. Anything less would be a blatant disregard for accountability and good governance.

It must be noted that $23 million was dispersed during COVID-19 mainly to assist those who were jobless and those suffering as a result of the pandemic.

The people of St. Kitts and Nevis demand answers. Where is the Actuarial Review? And what is the government hiding?