GIPF’s Pension Backed Home Loan Scheme Set for Rollout
- Nexus and Nexus
- Jul 1
- 2 min read
Updated: Jul 8
The Government Institutions Pension Fund (GIPF) has announced that its long-anticipated Pension Backed Home Loan Scheme (PBHLS) is now ready for implementation. The announcement follows the public endorsement of the scheme by the Minister of Finance.
Want more updates?
Follow us on LinkedIn; Facebook; X/ Twitter; YouTube
Originally approved by the GIPF Board of Trustees in 2016, the PBHLS was designed to empower active Fund members to use their pension savings as collateral for home loans. The Office of the Prime Minister and the Namibia Financial Institutions Supervisory Authority (NAMFISA) gave their official approval in 2018, paving the way for the scheme’s establishment in 2021.
According to GIPF, the final step in launching the scheme is the signing of a Memorandum of Agreement with the Office of the Prime Minister. This will occur once the approved interest rate—set at the repo rate plus 2.5%—is officially gazetted.
Two service providers, First Capital Housing Scheme and Kuleni Financial Services, have been selected to administer the scheme. However, they will only be onboarded once all necessary agreements are signed.
Did you know?
Prof Mervyn King will deliver a keynote address at the upcoming Pan African Summit on Pension Funds Governance and Awards 2025
GIPF’s General Manager for Marketing and Stakeholders Engagement, Edwin Tjiramba, urged members to remain patient: “We are in the final stretch of this process. Once all agreements are in place, the Fund will provide detailed information regarding procedures and requirements.”
The Fund has already been engaging with members nationwide in preparation for the scheme's rollout and anticipates that the PBHLS will help address housing challenges by providing members with a practical and affordable financing option.
For further information, members can contact Edwin Tjiramba at etjiramba@gipf.com.na or call 083 205 1728.
END
Comments