The Pension Commission has designated Stanbic IBTC Bank, a division of Stanbic IBTC Holdings, as one of the institutions to handle mortgages backed by Retirement Savings Accounts (RSA) (PenCom).
Contributors may utilize up to 25% of their contribution as equity to buy a property in the neighborhood of their choice thanks to the Pension Commission’s RSA-backed mortgage scheme.
The commission has partnered with financial institutions like Stanbic IBTC Bank to make funds available to verified contributors so they can buy homes while using a portion of their RSA balance as an equity contribution.
The commission is always looking for ways to help contributors get more value from their contribution prior to retirement.