Housing Loans

The Fund does not provide housing loans directly. However, a member may use up to one-third of his or her Fund Credit (savings balance in the Fund) as a surety in respect of a housing loan from a banking institution with which the Fund has a suitable agreement in place.

The Fund may provide a guarantee to the bank for this amount (up to one-third of the member's Fund Credit). Rule 13.2 of the Fund Rules refers.

As of March 2026, the Fund is negotiating a new housing loan facility with First National Bank (FNB). Before this can take effect, Parliament and each Provincial Legislature need to agree with FNB that members' housing loan repayments can be made by salary deduction.

Further information will be provided as this becomes available. Members should note that any bank loan remains subject to the requirements of the National Credit Act, relevant provisions of the Pension Funds Act, and the Fund Rules.