Wed | Nov 14, 2018

Gov't pensioners reminded to submit banking information form

Published:Wednesday | September 12, 2018 | 9:38 AM
Accountant General Carlene Murdoch - Contributed photo

Government pensioners are being reminded that banking information forms must be completed and returned to the Accountant General’s Department (AGD) before September 17, 2018, to ensure there is no disruption in the payment of pensions.

This is part of changes to allow government pensioners to receive payment by direct deposit.

Speaking with JIS News Accountant General Carlene Murdoch said notification letters and bank account information forms have been dispatched to the pensioners who are still receiving cheque payments.

“If the pensioner is physically unable to make it to our office, they should tell us and we will make arrangements to collect the document from them,” he said.

The new policy, which was implemented on September 1, is in keeping with the requirements of the Central Treasury Management System.

Murdoch said there are many benefits to the pensioners having funds sent directly to their bank accounts.

“It will reduce the possibility of fraud from loss or misdirected cheques, and it will also eliminate the uncertainties associated with the timing of payments, as the pensioner will know exactly when the funds will be transferred,” she explained.

Additionally, the new policy will save the pensioners’ cheque transaction fees.

The Accountant General said that arrangements have been made to facilitate pensioners who do not have bank accounts.

“We want to have our pensioners understand that this is a necessary process [for] improvement that we must undertake, and so what we have done is to partner with the major commercial banks and other financial institutions to facilitate the pensioners as they come in to open a new account, if they don’t have an account now,” she explained, adding that they will need to take along the letter that was sent to them when heading to the bank.

Murdoch said that pensioners must ensure that any name changes are communicated to the AGD to prevent disruptions in pension payments.

Pensioners may use joint accounts to receive funds; however, funds may not be transferred to anyone else’s account on behalf of the pensioner.

For further information, persons may call the AGD at 922-8320-7, email: info@treasury.gov.jm or WhatsApp: 876-818-6583

We want to hear from you! Send us a message on WhatsApp at 1-876-499-0169, email us at editors@gleanerjm.com or onlinefeedback@gleanerjm.com.