Pension-backed mortgages boost to affordable housing

Affordable homes under construction in Nairobi on January 21. PHOTO | JEFF ANGOTE | NMG

For more than a decade, Kenyans have had the leeway to use up to 60 percent of their accrued retirement benefits as a guarantee for mortgage loans.

However, a study by the Retirement Benefits Authority (RBA) shows that less than 0.1 percent of members of retirement benefits schemes have taken advantage of the provision.

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Note: The results are not exact but very close to the actual.