Individual-Linked Savings Facility (ILSF)

The GEHS individual-linked savings facility is established in terms of clauses and of the PSCBC Resolution 7 of 2015.

Accumulated savings shall only be accessed for the purpose of acquiring homeownership, building and/or improving a home acquired for ownership.

Features of the Individual-linked Savings Facility:

  • Administered by the GEHS Office (including all liaison)
  • National Treasury is the Funds Manager
  • Saved funds earn interest
  • Employees will receive periodic balances (quarterly) of accumulated savings including interest
  • Tax deduction is deferred until the withdrawal of funds
  • Applications for withdrawal will submitted to HR Units in Depts. Detail circular in this regard will be forwarded. Funds will be ready for withdrawal in during October 2016.
  • The ILSF to be audited annually

Housing allowance structure