Payment Methods for Pensions
The safest way for payments to reach customers in Jamaica is directly through a bank account. The nominated bank account may be in the UK, US or in Jamaica and payments will be made electronically in the currency of the country in which the account is held. In the case of Jamaican Dollar accounts, the exchange rate is calculated in the UK on the day that payment is due and accounts are credited within 5 working days. This ensures that you receive your money at the best exchange rate, in the quickest time and your money is immediately available to you.
Some banks operate a system through Barclays Bank in the UK where payment is made there in Sterling and then transferred to Jamaica. There is a charge for this service and the transfer times are outside the control of the Pensions Service. Once payment has been made to Barclays Bank, it becomes a private matter between the customer and the Jamaican bank and we are unable to intervene.
Postal payments are neither reliable nor secure and have been stopped in the UK.
If you would like to nominate a Jamaican bank account where you can receive your money in Jamaican Dollars, please complete the attached Direct Payment form and return it to this office.
Direct Payment in Jamaica (PDF, 32KB)
Direct Payment in the UK (PDF, 32KB)