18 Aug 2014

Immediate benefits for pensioners from CNMI casino deal

4:58 pm on 18 August 2014

Retirees in the Northern Marianas can expect a major deferred pension payment this week after last week's multi-billion dollar casino deal.

The Governor Eloy Inos says this Wednesday 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.

Future disbursements of the restored pension will be made on a quarterly basis.

The casino deal means residents can also expect 10 million US dollars in utility vouchers by the middle of October.