Enterprise Trustees Limited has partnered Letshego Ghana Savings and Loans PLC to provide pension-backed lending solution to its members. The solution, dubbed EZ Loan, allows members with Tier 3 Pension accounts with Enterprise Trustees to access short-term loan facilities with Letshego using their Tier 3 as collateral.
Speaking on the partnership, the Head of Advisory and Marketing at Enterprise Trustees, Hilda Owusu said the ultimate aim is to ensure that members can conveniently access loan facilities to meet their needs while leaving their pension funds to grow.
“Our primary objective as a Corporate Trustee is to ensure our members retire comfortably. However, we are not oblivious to the needs that they are confronted with from time to time which sometimes compels them to draw down on their voluntary pension funds. With this partnership, members can secure short-term loans to attend to these needs while ensuring their Tier 3 funds continue to grow to safeguard their retirement future,” she said.
The Chief Business Officer of Letshego, Sam Donkor, emphasised the significance of the partnership, stating that it aligns with the company’s objective of alleviating financial burdens by providing accessible and affordable loan solutions.
“The EZ Loan application process has been streamlined to ensure a seamless experience for applicants, with funds being made available within a swift 48-hour turnaround time. This endeavour reflects Letshego’s continuous dedication to providing timely and hassle-free financial assistance to its customers,” he stated.
In 2021, Enterprise Trustees introduced an industry first Pension-backed mortgage/short-term loan facility on the market in partnership with some financial institutions. Members who wish to access pension-backed loans should dial *714*333# and select option 5 to apply.
