The Government Institutions Pension Fund (GIPF) has announced its readiness to launch its pension-backed home loan scheme.

Conceptualised in 2016 and approved by various regulatory channels in 2018, the scheme will enable GIPF members to leverage their pension savings to acquire homes or purchase land.

The Government Institution Pensioners' Association in Namibia (GIPAN) has rejected the five percent annual pension increase by the Government Institution Pension Fund.

The Chairperson of GIPAN, Raphael Pieters, argued that the increment is 0.46 percent less than the previous financial year.