JM PENSION UPDATE

GENERAL

 I must say that our trustees need to send out information on a timely basis, which would help to minimize the level of suspicion and also the amount of rumors going around.

 I am in touch with a significant amount of ex JM employees and I have asked the trustees to send me even a one-page document outlining what is the status of things.

 Not withstanding the problem with getting information I have been able to get some.

 My investigations have revealed the following:

 

MEETING

 A meeting of the membership will be held possible on June 18.

 

DISPUTE AMONGST LAWYERS

 There is a dispute among Clinton Hart lawyers and some former members of that partnership concerning the amount these ex-partners should get. I am concerned about this because these lawyers could seek an injunction from the courts to halt all payments until this matter is settled.

 

LEGAL COST AWARDED TO US

 Government has approximately JM86 million for legal cost, which apparently Clinton Hart our lawyers are entitled to and it is possible that the membership could be entitled to some of this. I need further information on this and I will discuss this with the Clinton Hart lawyers.

 

COLLECTING DATA

 

The trustees had difficulties getting data on pension remittances and had to seek the assistance of the Income Tax department. Copies where made of documents from the Income Tax Dept. and these documents will be used in ascertaining members entitlements.

 They were unable to obtain records for the years 1971, 1972 and 1973 from the Income Tax.

 

CONTACT WITH MEMBERSHIP

 

A document will be made available at CIBC outlets, directly to members and I will try to get a copy to post on my website http://oocities.com/vderby. Members must use this document to fill in information such as their name, JM ID, contact and other related information. This document has to be signed by the member and a Justice of the Peace. Members will then be required to send this document to the trustees. Copies of this document will not be accepted.

 

DISPUTED BALANCE

 

It's very clear that government has no intention to pay all the interest at the rate stipulated by the Privy Council. The Trustees might have to go back to the Privy Council to deal with this one.

 

AUTHORITY OF THE TRUSTEES

 

We all need to understand that the trustees cannot negotiate any special agreement with the government. The Trustees are appointed by the court, and they must follow the rulings of the Privy Council to the letter. If the deviate from this then they could find themselves in contempt of court.

 

THOSE WHO HAVE DIED WITHOUT MAKING A WILL

 

Dependents would need to contact the executors who were appointed by the deceased who made the will listing them as a beneficiary. Also make sure that you have a valid copy of the will.

 I am no lawyer but it seems to me that those dependents whose relative died in testate will have some difficulties in claiming their deceased’s portion of the pension fund. You will need to find a lawyer who would need to make the necessary application to the Administrator General. Of course you will need to decide whether your legal fees might end up being more that the amount you are trying to get.

 

DISTRIBUTING THE FUNDS

 

You will be given a certificate to the value of your portion of the pension fund. This certificate will be redeemable at CIBC worldwide.

 

HELP LINE

 

CIBC will be setting up a help line so that you can call for information.

 

EXPECTED PAYMENT DATE

 

If things go well then we could start receiving our certificates by the middle to the end of August 2001.

 

FINALLY I NEED YOUR SUPPORT

 

Although I have been keeping you informed and helping in the fight because I really want and need my money, I now really need your support in continuing to do this.

 

You can assist me by doing the following:

 

• Passing on the email address jmpension@yahoo.com to other members.

• Donating paper.

• Contribute to the payment of the Internet Fees, for the service which allows me to maintain the web page.

 

COMMENDATIONS

 I must commend all those other persons who have helped in the fight behind the scenes. I will not go into details but you would be impressed if you know some of the things these people did to further our cause. Congrats and keep up the work all those behind the scenes people helping in the cause.

 Date: May 7, 2001