21 Aug 2014

CNMI retirees still await pension payments

7:29 pm on 21 August 2014

can be paid into their bank accounts.

Retirees in the Northern Marianas will have to wait a few more days before payment of their deferred pension

can be paid into their bank accounts.

The retirees should expect a nine-month payment covering the period from last October until the end of June.

The payment is being funded by Best Sunshine Ltd's 30 million US dollar deposit for an exclusive casino licence which was signed off last week.

The CNMI government says the funds are still being processed by Bank of Hawaii after being released by the Bank of Guam.

The $US3.14-billion casino license agreement between Best Sunshine/Imperial Pacific and the Lottery Commission on behalf of the CNMI is the single-largest development in the CNMI's recent history.