(Press Release) Pencom Approves Guidelines on Accessing RSA Balance for Payment of Equity Contribution for Residential Mortgage by RSA Holders

(Press Release) Pencom Approves Guidelines on Accessing RSA Balance for Payment of Equity Contribution for Residential Mortgage by RSA Holders

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Summary

The National Pension Commission (PenCom) is pleased to inform all stakeholders and the general public, particularly Retirement Savings Account (RSA) holders, that the Commission has approved the issuance and immediate implementation of the Guidelines on Accessing RSA Balance towards Payment of Equity Contribution for Residential Mortgage by RSA Holders. The approval is in line with Section 89 (2) of the Pension Reform Act 2014 (PRA 2014), which allows RSA holders to use a portion of their RSA balance towards payment of equity for residential mortgage. Below are the highlights of the Guidelines: 

Source: National Pension Commission

Published: 2022

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