We’ve made it!!! Happy New Year!!! I think we all understand how exciting (and grateful) just making it to another year can feel. The past few years have taught us many hard lessons, so welcome to a new chance to learn from them and build on that.

One of the things I think we all had solidified for us last year was the need to earn any extra money that you can and to set some aside because you never know when you may need it. (If you also learned the importance of saving time and want to just jump to the instructions then click here!)

That lesson, along with what feels like the 74 weeks between December’s pay and January’s often means that we start thinking about any money that we may have access to early in the year (unless you live in Germany or Switzerland that is, where they get paid a 13th salary to cover that extra spend 🤯). Well one of the ways to get an extra bit of money that you may have put aside years ago without realizing it is applying for a refund of your previous contributions to the National Housing Trust, aka the annual NHT Refund.

How Does the Refund Work?

Well Jamaicans and Jamaican Residents who have been contributing to the National Housing Trust each year are entitled to receive an annual refund of each year’s contribution starting in the 8th year after their first contribution was made. The NHT calls this a “Regular” Contributions Refund. As stated, the refunds are paid out annually and on an 8 year stagger, so 8 years after you started getting NHT contributions taken from your pay (or voluntarily paying them over, if self-employed) you will qualify for a refund of that first year’s contribution, and every year after that you qualify for a refund of the money contributed 8 years previously.

If that’s a little confusing to you, just count 8 years back, and that’s the year NHT is currently refunding. Whatever your total NHT contribution was in that year, you can get it as a refund from NHT this year. We’re currently in 2023, so counting 8 years back tells us that the NHT is currently accepting refund applications for the year 2015. Any contributions you made in 2015 (or earlier and haven’t yet collected) will be available for refunding. Qualifying for this refund legally starts literally at midnight January 1 each year, so many people make it a point to start their year with the refund application 😆. This often means that NHT’s website often fails under the pressure during the first few days of January, but to their credit it’s usually brought back up very quickly.

By the way, if you have any earlier contributions that you’ve never applied for, you can also get them all as long as they’re older than 8 years. If this is you, congrats on the bigger than expected surprise!

How Do I Apply For the Refund?

Well since the pandemic, NHT has had to adjust how they handle customers so refund applications are only accepted online via:

1. The NHT’s Apple App

2. Their Android App

3. On NHT’s Official website

What Will I Need for the Application?

You will need;

1. Your Taxpayer Registration Number (TRN)

2. Your National Insurance Scheme (NIS) Number - If you have more than one NIS number, ask the NIS for proof stating which number is correct, then contact the NHT to ensure that this number matches with NHT’s records before you apply.

3. Valid Government Issued Identification (Driver’s License, Passport, Voter’s ID) - If you’ve changed your name since making contributions, you’ll need to provide proof of change of name to the NHT before applying.

4. The Registered Company Names of the companies where you’ve worked and the years you worked at each company. NHT will have a list of company names to pick from, if the company has changed its name in the time you’ve been there then search for the company name on your pay slip from the year the NHT deduction was made. If you can’t find it, search for the new company name. If you still cannot find it, then check with the NHT to confirm that the company has been paying over your NHT contributions like they are legally required to.

5. Your Bank Account Information (Account & Branch Numbers) or Money Transfer Information

Bank or Money Transfer?

Yes, you can have your refund sent to you using any of the following options;

Commercial Banks

• National Commercial Bank

• Bank of Nova Scotia

• Sagicor Bank Jamaica Limited

• First Caribbean Bank

• First Global Bank

• JN Bank

• JMMB Bank

Money Transfer Services

• JMMB Money Transfer

• JN Money Transfer Services (JNMTS)

• Victoria Mutual Money Transfer Services (VMMTS)

  (Note: These money transfer services may charge a fee for you to receive your refunds through them.)

Prepaid Card Services

• NCB Prepaid Keycard

How Long Do Refunds Take to Arrive?

The NHT officially says “2-3 weeks”. In my personal experience I have found this to be true and at times they have even been faster, which is impressive to me, coming from a Government Agency. I have more than once received the refund a week or so before the actual notification was delivered.
They also have a tool which allows you to check the status of your application. It is linked here.

Application status can also be checked on from within the mobile apps and the NHT maintains that in the event of any difficulty in processing your claim, they will notify you by email or phone.

Do Homeowners Qualify?

Yes they do, however, if you already have a mortgage loan directly received from the NHT then you do not need to apply for a refund as each January your refund will be automatically processed and credited to reduce your existing mortgage amount. There are a few exceptions to this rule though.

Exceptions?

Since 2016 Public Sector Workers who already have NHT mortgages have been allowed to apply and receive their refunds directly instead of it being applied against their mortgages automatically. This exception was set to expire at the end of 2021, however it was extended in March 2021 to April 2022 and has since been extended into 2023. This means that if you’re one of the over 26,000 public sector workers who have mortgages with the NHT and have qualifying refunds you’d like to access, then you should apply quickly as there’s no guarantee that the exception will be given a further extension.

Another exception is if you’ve received a mortgage through the Joint Finance Mortgage Programme (JFMP) or the Combined Mortgage Programme (CMP). If so then you may apply for your refunds to be sent directly to you.

Thirdly, There is a “Special” Contribution Refund. It is granted to;

• Retirees – persons reaching the age of retirement.

• Invalidity Pensioners - persons who can no longer work because of a mental or physical disability, and who have been certified as Invalidity Pensioners by the National Insurance Scheme (NIS).

• Migrating Expatriates - foreign nationals who lived and worked in Jamaica, made NHT contributions, and are leaving Jamaica permanently.

• Agents of Deceased Contributors.

“Special” Contribution Refunds do not include amounts already claimed as “Regular” Contributions Refund, or any amounts already credited to the Contributor's loan account.

Contact the NHT for any special requirements that they may have around the application for the Special Contribution Refund. They can be contacted on their website or at their Customer Care Department;

Toll-Free numbers: (for local JA callers only)

• (1-888)-CALL NHT

• (1-888)225-5648,

• (1-888)991-2185–7,

• (1-888)991-4249

or via email at wecare@nht.gov.jm

Any Suggestions for my Refund?

I’m always biased towards investing. If you’re in the position where you don’t absolutely need to spend the refund, why not try investing it on the stock market and seeing how much more money your money can make you? If you aren’t quite at the level of doing it yourself as yet, then you can check out my GRWR Beginner Investor Classes and come learn how to make your money work for you. It’s designed so that anyone can learn and get started with earning from the local stock market.

If you have getting into investing as one of your resolutions this year, then this is a great chance to kick off the year right and knock an early goal out of the park. A few hundred people have done it over the past few years and GRWR has really helped them. Come and see what’s possible for yourself. If you’re looking for a few more pointers, check out my starter guide on local investing.

Of course, if you want to see what’s possible with a simple start, check out this live episode of #BrickTalk where the Jamaican stock market’s performance over 2022 gets discussed and a few possibilities for 2023 get touched on also. Whatever you choose, I hope this post has helped you get your refund quickly and here’s wishing you the best for this year and the years to come. 🎉