# I'm over 50. Can I still use my pension to buy a home?

> Yes, until you turn 60, but only half your balance, and the loan must be paid off before you turn 65. That shortens the term and raises the payment: on MVR 2.4 million at 11%, about MVR 33,100 a month over ten years against MVR 23,500 over 25.

Source: Maldives Real Estate News, published by Binga Properties. URL: https://news.binga.mv/pension-buying-a-home-over-fifty
Published: 2026-10-18T15:57:47.286Z · Updated: 2026-10-18T15:57:47.286Z · Event date: 2026-10-18

## The two age rules

The Pension Office requires you to be:
- **under 60** when you apply; and
- **able to repay the loan in full before you turn 65.**

From **50 to 60**, you can pledge **half** your RSA balance.

## What that does to the term

| Age when you borrow | Longest term that ends before 65 |
|---|---|
| 40 | 24 years |
| 50 | 14 years |
| 54 | 10 years |
| 58 | 6 years |

Lenders have their own limits too. Maldives Islamic Bank's FAQ, for example, asks that all applicants be **under 65 at the end** of the financing.

## What it does to the payment

On **MVR 2.4 million** at an illustrative **11%**:
- over **25 years**: about **MVR 23,500 a month**;
- over **10 years**: about **MVR 33,100 a month.**

A shorter term means a much higher payment, though much less profit or interest overall.

## Ways to make it work

- **Borrow less.** A larger deposit (pledged pension plus cash) cuts the payment. On **MVR 1.8 million** over 10 years at 11%, the payment is about **MVR 24,800**.
- **Add a co-applicant.** Lenders such as MIB accept a spouse or adult children; their income counts. The pension rule, though, applies to the person pledging.
- **Use more of your own pension.** At 52 with MVR 900,000 saved, you can pledge **MVR 450,000**.

## One caution

At this age the pledged money is close to the time you will need it. If the loan goes wrong, there are fewer years to rebuild your savings before retirement.

Pension Office: hotline **1441**, Viber **733 1441**, info@pension.gov.mv, pension.gov.mv. Your pledgeable amount is on your RSA statement, in the Pension mobile app and on the website.

*From the Maldives Pension Administration Office's own housing pages, FAQ and leaflet, read on 18 October 2026. Your lender's terms decide the rest; confirm them before you commit. General information, not financial advice.*

## Sources
- pension.gov.mv/en/housing (Pension Office, MRPS Housing Benefit, read 18 October 2026) (https://pension.gov.mv/en/housing (Pension Office, MRPS Housing Benefit, read 18 October 2026))
- pension.gov.mv/en/faq/housing (Pension Office, housing FAQ, read 18 October 2026) (https://pension.gov.mv/en/faq/housing (Pension Office, housing FAQ, read 18 October 2026))
- hdfc.com.mv/conventional-facilities/home-purchase (HDFC, read 18 October 2026) (https://hdfc.com.mv/conventional-facilities/home-purchase (HDFC, read 18 October 2026))
- www.mib.com.mv/frequently-asked-questions (MIB FAQ, read 18 October 2026) (https://www.mib.com.mv/frequently-asked-questions (MIB FAQ, read 18 October 2026))

Binga Properties is a real-estate concierge; it may represent homes and developments mentioned here.