PenCom Issues Draft Guidelines on RSA Withdrawals For Residential Mortgage

The National Pension Commission (PenCom) has issued draft guidelines on withdrawals from Retirement Saving Accounts (RSA) for equity payment of residential mortgage.
This is contained in a document released by the commission on Thursday. It would be recalled that the 2014 Pension Reform Act had made provision for RSA holders to access part of their pension contribution for mortgaged financing.
The guidelines help to determine the eligibility requirements, procedures and documentation required to enable RSA contributors to access and utilise part of their RSA balances.
PenCom urged stakeholders to forward their feedback, comments and enquiries about the draft guidelines to Director-General of the commission on or before the close of business on Sept 11.