More payment options for NHT refunds

Added: 14 Jan 2016

NATIONAL Housing Trust (NHT) contributors applying for a refund of contributions made up to 2008, now have a wider range of payment outlets through which they can collect their refunds.

The NHT, in a release, said the options are:

  • through an account held by the applicant in any of the five local commercial banks;
  • via a special prepaid cash card distributed by the National Commercial Bank; or
  • through the Jamaica National Money Services Limited and Victoria Mutual Money Transfer Services Limited.

In 2015 the trust halted disbursement via money transfer services as it sought to restructure its payment arrangements. Customer feedback, said the NHT, has now led to a restoration of those agencies as refunds outlets. However, applicants who opt for payment via either of the transfer agencies, will now be required to pay a handling fee to the agency of their choice at the time of collection.

NHT contributors are entitled to receive a regular contributions refund in the 8th year after the contribution was made. This means that if someone contributed to the NHT in 2008, he/she should be able to apply for a refund of all contributions made during that year, in 2016. In general, contributors who hold mortgages with the Trust do not receive their refunds in hand as the funds are credited to their mortgage account. For the past two years, however, the Trust has waived this stipulation for public sector workers.