SEE WHY Senate Considers Bill To Amend Nigeria's Pension Act 2014
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The National Pension Commission (PenCom) has released a guideline specifying how RSA account holders can access part of their RSA balances as equity for residential mortgages. The guidelines are in line with the provisions of Section 89 (2) of the Pension Reform Act (PRA 2014), which allows RSA holders to utilize part of their retirement savings as equity contributions to secure a residential mortgage. Limit for equity contribution: According to PenCom, the maximum amount RSA holders can apply a
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