Tier Three Pension fund likely to be used for mortgage for affordable housing

The Minister of Works and Housing, Samuel Atta Akyea, says government intends to present a bill in Parliament to ensure a conducive mortgage scheme for the ordinary Ghanaian. 

Owning houses in the country is becoming a burden to some as most people cannot afford to buy them due to their expensive nature. 

But in an interview with our Parliamentary Correspondent, Mr Atta Akyea said government intends to break this chain and make housing very affordable. 

To this end he will suggest the tier three pension scheme be used for this.

Meanwhile a financial analyst, Dr. Raziel Osan-Okon says the decision to use the Tier Three Pension fund for mortgage for affordable housing is a welcome move.  

He however said, since the Teir Three is voluntary contribution it will not be advisable to use the fund for mortgage.  

He suggested that the 10% should be used for such investment.

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