The Government Institutions Pension Fund will roll out its Pension Backed Home Loan Scheme on Monday, 12 January 2026, providing qualifying members with access to housing finance secured against a portion of their pension savings.
The scheme will be administered by First Capital Treasury Solutions and Kuleni Financial Services (Pty) Ltd, with members advised not to submit applications at GIPF offices.
Applications through Kuleni Financial Services must be submitted via members’ human resources offices or the Kuleni website, together with supporting documents including a GIPF benefit statement, a certified copy of the member’s identity document, a recent payslip, proof of property ownership or allocation, and signed quotations.
Members applying through First Capital Treasury Solutions may do so at its offices in Windhoek, Ondangwa, Katima Mulilo and Swakopmund, or via its online portal. Required documentation includes a certified ID copy, latest payslip, three months’ bank statements, a GIPF benefit statement, a HOSSM booklet, a tax certificate and proof of residence. Property documents are not mandatory at the pre-approval stage but are recommended where available.
The scheme is currently limited to active members employed by the Government of the Republic of Namibia and contributing monthly to the Fund, as well as members on disability. Other participating employers, including state-owned enterprises and mission hospitals, will be advised once memoranda of agreement are finalised.
“The PBHLS will enable active members to access a portion of their pension savings as collateral for the purchase of an erf, home improvements, the purchase of a new home, or the construction of a home in both urban and rural areas,” said Edwin Tjiramba, General Manager: Marketing and Stakeholders Engagement at GIPF.
Tjiramba said the scheme will also allow members to transfer existing home loans financed by other financial institutions or commercial banks to the pension-backed facility. He added that the loan may not be used to consolidate non-housing debt or to acquire movable assets such as household appliances, livestock or vehicles.
In line with pension fund regulations, loans will attract a variable interest rate equivalent to the prevailing repo rate plus 2.5 percentage points. Tjiramba said the current pricing under the scheme is based on a repo rate of 6.5%, resulting in an interest rate of 9.0%, with instalments adjusting in line with repo rate changes by the Bank of Namibia.
He said members may access up to 33.33% of their pension savings as a credit, a threshold determined through actuarial assessments to safeguard the long-term sustainability of the Fund.
