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On Wednesday, the Kaduna State Mortgage and Foreclosure Authority held a workshop to educate civil servants on a new policy that allows them to access 25% of their retirement savings as equity to buy houses.
The Executive Secretary of the state Pension Bureau, Professor Salamatu Isa, explained that the workshop was to raise awareness for civil servants participating in the contributory pension scheme and that they could use 25% of their Retirement Saving Account balance to secure a mortgage and purchase a residential home.
Isa said civil servants could access 25% of their Retirement Saving Account (RSA) balance under the new policy to secure mortgage and own residential homes.
“I am calling on the state civil servants to take advantage of the opportunity to enable them own a residential home using mortgage facility.”
“Seven per cent is being deducted every month from the salaries of civil servants while the state government contributes eight per cent into their RSA, which is invested,” she added.
Yahaya Lere, Executive Secretary Kaduna State Mortgage and Foreclosure Authority, said the body was established to ensure that civil servants and residents access mortgage for affordable houses.
