PenCom says RSA holders can now use their pension contributions for mortgage - Global Quest Magazine

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Saturday, September 24, 2022

PenCom says RSA holders can now use their pension contributions for mortgage


The Nigerian Pension Commission (PenCom) has announced the final approval for pension contributors in active employment to use 25% of the balance of their Retirement Savings Account (RSA) to pay for equity contribution for mortgage.

This appears to be a huge relibef for Nigerians who have been advocating for the use of such fund for payment of residential mortgages.

This disclosure is contained in a statement issued by the Spokesman of PenCom, Mr Abdulkadir Dahiru, in Lagos on Friday, where he said the policy specified in the new guidelines of the National Pension Commission (PenCom) would be implemented with immediate effect.

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