(CMR) It was exclusively announced this evening on The Cold Hard Truth that Silver Thatch Pensions will be paying out about 99% of their emergency COVID-19 claims by tomorrow, Friday, June 19. This was a timely bit of positive news as the country looks forward to moving to Level 2 suppression on Sunday.
This would place the pension company well ahead of the 45-day deadline for most persons who applied in May. Tuesday, June 16 was the first 45-day deadline; essentially meaning that deadlines this week are for persons who applied during the first week of May.
Despite having a 45-day timeline in which to pay out claims from the following day after an application was received Silver Thatch will be paying out ALL persons who submitted their applications in the month of May during this first payout week.
In what is quite an astonishing feat, that means that roughly 10,000 persons will be receiving their money. In addition, their office was opened today for anyone that requested a cheque payment and will again be opened on Saturday to accommodate further collections.
Alice Ramos of Silver Thatch joined the show this evening explaining some of the procedures required to make the payouts possible. Informing the public about the arduous process required and the need for them to double their staff complement the hard work has paid off.
Viewers were particularly pleased with this information and many rated Silver Thatch as the best pension administrator on the island. This is the third time that Ramos joined the evening show to speak directly to the public and answer any questions that they may have. On her first appearance days before the application process began some 653 viewers tuned into the program.
Sadly many complaints were received about other pension providers including Fidelity Pension and to a lesser extent Britcay. CMR received numerous complaints today that members had received an email notification of pending payment within 48-hours from Britcay. However, that deadline had come and gone and no money was received.
Most of the complaints from Fidelity centered around the fact that customers have received no notifications at all from that administrator as required by law. One person did share that they were informed by Fidelity that payments would be late but should be received by month-end. It is unclear if the Department of Labour and Pensions will be enforcing the law for missed deadlines and late payments.