Premium Pension pays N216m to 14 RSA holders for mortgage

Premium Pension Limited says it recently paid N216.8 million to 14 Retirement Savings Account (RSA) holders who have applied to access 25 per cent of their pension savings as equity contributions for residential mortgage. A statement by the firm’s Head, Corporate Communications, Aliyu Mohammed Ali, yesterday stated that this was in line with the guidelines […]

Premium Pension Limited says it recently paid N216.8 million to 14 Retirement Savings Account (RSA) holders who have applied to access 25 per cent of their pension savings as equity contributions for residential mortgage.

A statement by the firm’s Head, Corporate Communications, Aliyu Mohammed Ali, yesterday stated that this was in line with the guidelines on accessing RSA balance towards payment of equity contributions for residential mortgage for RSA Holders released by the National Pension Commission (PenCom) in September 2022.

He noted that the arrangement was designed to facilitate home ownership by RSA holders, deepen the mortgage sector through the provision of sustainable long-term finance, and spur socio-economic development by narrowing the nation’s lingering housing deficit.

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“The company has successfully paid the sum of N216,863,162 to 14 customers, because we understand that owning a home is an essential part of financial security and retirement planning for our members, and we are pleased to have played and will continue to play a crucial role in making this dream a reality,” the statement said.