Good news for pension contributors! Tangerine APT Pensions is proud to announce that it has successfully processed and paid 47 RSA contributors a total of N328.9 Million Naira mortgage equity. The fund was disbursed to their Primary Mortgage Bank, helping them turn their dreams of becoming homeowners into a reality.
In September 2022, the National Pension Commission (PenCom) introduced new guidelines, allowing RSA contributors to access up to 25% of their contributions as equity for purchasing a residential mortgage in their desired location.
TangerineAPT Pension have diligently validated and received approval from the National Pension Commission for RSA holders interested in mortgage loans. This accomplishment marks a significant milestone, enabling contributors to fulfill their lifelong dreams of owning a property in a short period. It also reflects our company’s core values of Customer Focus, Accountability, Creativity, Integrity, and Excellence.
This is just the beginning of our commitment to addressing housing challenges for pension contributors in Nigeria. We recognize that housing is a fundamental human need, greatly impacting individuals, families, and communities’ quality of life. By swiftly embracing this guideline, we aim to help close the housing deficit and deliver value to our contributors.
Aliyu Dahiru, the MD/CEO TangerineAPT Pensions, emphasized that owning a home is an essential need for customers. This program, customized by PenCom, caters to each client’s unique financial requirements, assisting them in promptly realizing their homeownership aspirations.
If you’re a pension contributor longing to own a home, we invite you to apply and experience a seamless process that will bring you closer to a rewarding life after years of hard work.
However, interested pension contributors must meet certain criteria set by PenCom, including providing a duly signed offer letter from the property owner, verified by the Mortgage Lender. Additionally, the applicant’s RSA must have both employer and employee’s mandatory contributions for a cumulative minimum period of 60 months. Please ensure that the application for equity contribution is made in person and not by proxy.
Other conditions state that the maximum amount to be withdrawn should not exceed 25% of the total mandatory RSA balance as of the application date, regardless of the equity contribution required by the mortgage lender.
In cases where 25% of the RSA balance is insufficient for payment as equity contribution, contributors may utilize the contingency portion of their voluntary contributions (if any).
Tangerine APT Pensions, a subsidiary of the Tangerine Group, is a leading pension fund administration company in Nigeria. With a mission to help Nigerians live financially secure lives.
Join us on this exciting journey towards homeownership and financial well-being.
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