They Can Take It Back: NHT advises timely retrieval of refunds

 

The National Housing Trust (NHT) in Jamaica indicates that it will retrieve refunds 30 days from the date on which a message is sent to state that money has been deposited.

A note on the NHT website states that refunds will be “returned to the Trust 30 days after a message alert from the NHT if they are not collected."

The NHT has a contributory scheme under which funds are provided for the purchase of homes and land in the island.

Contribution refunds are made to Jamaicans eight years after being made, if a mortgage loan is not being paid. Refunds are currently being made for the year 2017.

In explanation of how refunds can be retrieved, the Trust says that the return of uncollected refunds is limited to remittance agencies only.

They told Caribbean Money Daily, “This arrangement is specific to only remittance agencies which is the alternative to having funds deposited to your bank account. The NHT has arrangements with three: JN Money Services, VM Money Transfer Services Limited, JMMB Money Transfer Limited."

The Trust also stated earlier that work is ongoing to ensure that refunds proceed smoothly.

Refundable contributions have been increasing year by year. In 2023 the total refundable was J$149.069 billion and for each year prior, ranged from $136.808 billion in 2022 down to $91.251 billion in 2017.

Caribbean Money Daily

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