There are two kinds of people in this world. those that regard retirement as a necessity to be planned for. and those that pay it no mind.

For those in the former category, retirement is a certainty of working life. It is inevitable for every salaried worker and must be approached with care and good planning. The necessities of life; shelter, food and clothing are guarantees that every pensioner must have; including access to good healthcare.

However, perhaps the most important expectation is to have a place to lay your head when you transition into retirement. But this is where it gets tricky for most Ghanaians.

The country's real estate sector continues to see significant growth in the past few years due to the population boom in urban settlements. The two main centres, Accra and Kumasi remain at the forefront of this real estate blitz. However, the cost of owning a home is beyond reach for most Ghanaians.

Investing in homeownership can consume more than half of one's working life with attendant complications. Whilst access to long-term loans is mostly the way out of this, such an opportunity tends to be limited and out of reach for many Ghanaians due to a diversity of economic factors.

Now thanks to Absa Bank, a new pension-backed mortgage product has emerged, which is set to redefine the concept of homeownership for workers in Ghana. Thanks to this new innovation, workers can use their pension contribution as security against their personal mortgages.

With a maximum ticket size of up to ¢5 million, every salaried worker can now enjoy the comfort of securing that dream house, and the comfort of not facing re-possession and loan defaults.

Managing Principal of Retail and Business Banking at Absa Bank, Kobla Nyaletey says "We are always in the business of providing convenience for our customers every step of the way. Owning a home before going on pension sets the stage for a very comfortable life as you begin the new journey.

"Our pension-backed mortgage product gives additional security and peace of mind as you transition from working to retirement. Overall, we are excited that we are among a few banks to introduce this new product; it speaks to our commitment to helping our customers get things done.”

The pension-backed mortgage product provides up to 100% financing to salaried workers at competitive rates, a tenure of 20 years with insurance cover and guaranteed partnerships with reputable real estate companies.

With this package, there is no need to wait to go on a pension before getting that new home you have always dreamt of. You can get it today.