The Bermuda Hospitals Board has reminded former employees they are entitled to a one-off pension payment.

People who worked for BHB between January 2000 and December 2005, but no longer work for the company, are entitled to additional funds towards their pension.

The payment is the result of a settlement reached in 2008 with regards to the cost structure of the BHB pension fund between 2003 to 2005.

Advertisements are now running in local media to advise former BHB workers of that.

A spokeswoman said: "In 2006, BHB transferred its pension to BF&M following a thorough due diligence process that was undertaken by BHB in partnership with the unions and independent pension advisers.

"A BHB policy was also established governing all stakeholders involved in the BHB pension scheme, including service providers, to ensure the sound governance arrangements were firmly in place going forward.

"A one-off payment of $1.35 million to the pension fund by BHB has been agreed, following a review of the previous pension scheme by the Pension Commissioner and independent pension advisers.

"The settlement will be paid from monies put aside by the BHB for this purpose."

The BHB has reminded former employees to contact Lori Burchall at 239-1866 to sign up for the payment.