New rules on pensions get backing


The Standard | by James Wanzala

Investors in the property and pension sectors have welcomed the new mortgage regulations that allow the use of retirement savings for house purchase.

The Retirement Benefits Act was recently amended to allow members of retirement benefit schemes to utilise a proportion of their accrued savings to purchase a residential house.

“This mortgage loan regulation is a good incentive for members to save knowing that there is an immediate intervention when they want to acquire a house for themselves…

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