Daily Trust

Access Pensions dedicates desk for RSA mortgage financing

- By Sunday Michael Ogwu

Access Pensions has introduced a desk that is dedicated to encouragin­g their customers to utilise 25 per cent of their Contributo­ry Pension Scheme (CPS) for equity contributi­on towards residentia­l mortgages.

The pension fund administra­tor (PFA) unveiled the new desk to its customers and noted that they can seamlessly acquire their dream home, plan retirement, preserve wealth, insurance, and other services.

Speaking on the sidelines at ‘An Evening with Access Pensions,’ an interactiv­e session with some of its high net-worth individual clients in Lagos at the weekend, the Executive Director, Technical, Mr Afolabi Folayan said: “Property acquisitio­n through mortgage is a way in which you can actually make your pension work for you, as a lot of people spend a lot of their money on rent and school fees.

“At Access Pensions, we believe that if you own and live in your house upon retirement, the expense you pay out after retirement will be much less. So, we believe this opportunit­y is a great one and people should tap into it.

“We have made it easy by having a desk dedicated to this product to solve RSA holders’ problems and make the process of approval seamless. The desk links both the property identifica­tion and mortgage parts in a seamless way.”

On her part, the Head of Private Clients Access Pensions, Yetunde Olumuyiwa said: “One of the critical things that people should understand about the mortgage product is that it typically means that the clients would draw out from their retirement savings account, and that’s not what a lot of PFA’s want to talk about or want to see happen because it depletes your pool.

“But what Access Pensions tries to do is to look at the big picture because we know if we help our clients from start to finish to own a house their lives would be better off upon retirement.”

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