This, the Pension Fund Administrator said, is in line with the guidelines on accessing Retirement Savings Account balance towards the payment of equity contributions for residential mortgages as released by the National Pension Commission in September 2022.
The arrangement is designed to facilitate home ownership by RSA holders, deepens the mortgage sector through provision of sustainable long-term finance, and spur socio-economic development by narrowing the nation’s lingering housing deficit. To this end, the PFA paid N216.8 million to the 14 customers. Owning a home, according to Premium pension, is an essential part of financial security and retirement planning for its members, adding that. ‘we are pleased to have played and will continue to play a crucial role in making this dream a reality.’
While commenting on this development, the managing director/CEO, of the firm, Mr. Umar Sanda Mairami said, the payment payment has been a long-awaited development for pension contributors, saying, “we are proud to be among the first Pension Fund Administrators to successfully implement this new Guideline.
“Our team of experts worked tirelessly to ensure that our members’ Mortgage payments were processed promptly and efficiently, and we are delighted to have achieved this great milestone.”