National Housing Trust (NHT)
The National Housing Trust was established in 1976 to address the housing shortage which resulted from a growing population and the inadequate annual output of houses by the public and private sectors. The Trust emerged out of the need for a financial institution that could mobilize additional funds for housing and ensure that those funds are available to more Jamaican families at rates below the traditional markets rates. The institution was given a broad mandate:
To add to and improve the country's existing supply of housing; and
To enhance the usefulness of the funds of the Trust by promoting greater efficiency in the housing sector.
The NHT is funded by a combination of personal and corporate contributions. Employers are required to deduct 2% of each employee's salary along with 3% of their own wage bill and remit these funds to the NHT on a monthly basis. Self-employed persons contribute 2% or 3% of earnings depending on the occupational category in which they fall.
Under the NHT Act, all employed persons, between the ages of 18 and 65, who are earning the minimum wage and over must make contributions to the Trust
To develop and market innovative and affordable quality housing products and services to meet demand.
Implement an infrastructure for a customer-centered business model.
Establish strategic alliances with external entities to enhance efficiency.
To transform targeted communities into well maintained, self-sufficient communities.
To implement a Comprehensive Human Resource Management System.
To implement a comprehensive information management infrastructure.