- The National Housing Trust (NHT) is inviting contributors to apply for 2011 contribution refunds, which are now being processed.
- Manager for Corporate and Public Affairs at the NHT, Dwayne Berbick, explained to JIS News that contributions made over seven years are refunded with interest in the eighth year of payment.
- Thus, Jamaicans, locally and overseas, who have made payments since 2011, are eligible for a refund this year.
The National Housing Trust (NHT) is inviting contributors to apply for 2011 contribution refunds, which are now being processed.
Manager for Corporate and Public Affairs at the NHT, Dwayne Berbick, explained to JIS News that contributions made over seven years are refunded with interest in the eighth year of payment.
Thus, Jamaicans, locally and overseas, who have made payments since 2011, are eligible for a refund this year.
“For example, if you were earning $1 million per annum in 2011, you would have contributed two per cent of your monthly salary (to the NHT). The (agency) will pay you the complete sum of monies contributed plus two per cent per annum for the seven years,” he said.
“This also applies to self-employed persons. However, they pay three per cent of their declared earnings to the NHT on a quarterly basis, and would be eligible for those sums with a rate of interest of two per cent per annum,” Mr. Berbick said.
Persons are advised to complete the application form online at nht.gov.jm.
A reference number will be issued after completing the form, which allows persons to check on the status of their application.
“If there is any difficulty in processing your application, you will be contacted by email or a text message advising you to make contact with the NHT,” Mr. Berbick said.
Less than three weeks after application, persons will receive a notification of payment and direct deposit to their accounts or a money transfer.
“Currently, there are five banks on the system – NCB, BNS, Sagicor, FirstCaribbean and First Global. You can also collect refunds via NCB Prepaid KeyCard Cash, which doesn’t require an account. You may also collect your refund, for a small fee, through the money transfer services of JMMB, Jamaica National and Victoria Mutual,” Mr. Berbick advised.
“Again, no accounts are necessary for these transfers,” he said, noting that more payment options will be coming on stream shortly.
“Come next month, we are planning to add JMMB Bank and JN Bank to our payment platform, which means clients of these banks who are holders of local accounts can also have their accounts credited,” he said.
Mr. Berbick noted that persons who have paid off their mortgage or are still making payments, can also apply.
“For the general mortgage holder, the refund will be used as a credit to your mortgage account,” he explained.
“However, public-sector workers have the option of receiving their refund in hand or as credit to their mortgage account, in keeping with wage negotiations between the Government and unions,” he said.
Mr. Berbick is inviting all contributors to download the NHT app to their smartphones so that they can track their contributions and refund.
“This gives convenient access to your NHT account, providing you with useful information,” he noted.