Regulatory Alerts2026-07-08
Added
PF-CIR-03-2020 – Housing Loan Deductions
Registered pension fund organizations must ensure housing loans and guarantees comply with section 19 of the Pension Funds Act, limiting loan amounts to 90 percent of the property's market value or the member's withdrawal benefit, or the aggregate of both if secured by both. Deductions from a member's fund credit or accumulated retirement savings to settle housing loan debts are prohibited unless the member is entitled to the benefit at the time of deduction. The circular revokes Circular PI/PF/3/2003 and establishes that contravention of these provisions constitutes a criminal offence under section 37 of the Act.
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