How the PenCom 25% RSA Guideline Works

1. What is the PenCom RSA Mortgage Policy?

In accordance with Section 89(2) of the Pension Reform Act 2014, the National Pension Commission (PenCom) has issued guidelines permitting active contributors to access up to 25% of their Retirement Savings Account (RSA) balance as equity contribution towards a residential mortgage.

If you are an active contributor under the Contributory Pension Scheme (CPS) and have been contributing for a minimum of 60 months, your RSA balance can serve as the equity contribution required by licensed Primary Mortgage Banks (PMBs).

2. Are You Eligible?

To qualify for this benefit, you must meet the following strict criteria set by PenCom:

• You must have an active RSA with both employer and employee mandatory contributions for a cumulative minimum period of 60 months (5 years).
• Your offer letter for the property must be from a licensed Primary Mortgage Bank (PMB) or Commercial Bank approved by the CBN.
• The maximum withdrawal allowed is 25% of the total RSA balance as of the date of application.
• If 25% of your RSA balance is more than the required equity, you can only access the exact amount needed for the equity.
• You must not be retiring within the next 3 years.
• Married couples can make a joint application, provided both meet the eligibility criteria.

3. Our Process at Trust Bricks