Magkano na ang monthly sa Pag-IBIG ngayong 2024?

 FOR MANDATORY MEMBERS: Magkano na ang monthly sa Pag-IBIG ngayong 2024? 

With Pag-IBIG's new savings rate in effect this February, see the table below to know your contribution based on the type of your membership.

REMEMBER, your Pag-IBIG Monthly Savings earn dividends and will be given back to you upon maturity as your "lump sum!" Ibig sabihin, bawat pisong hulog mo ay ipon na babalik sa'yo ng mas malaki! 💡

Double Your Savings

Doble ang savings, doble ang "lump sum" sa future. 🙌

Ang Pag-IBIG contributions mo ay Pag-IBIG Savings mo! Kaya simula February 2024, 'pag dumoble ang savings mo, do-doble din ang lump sum na makukuha mo! May kasama pang mas malaking dividends! 

Ang Pag-IBIG Savings mo ay babalik sa 'yo kaya see the sample computations below ⬇️

Pag-IBIG Gets ECOP Support on New Contribution Rates 2024

Pag-IBIG Fund gained the support of the Employers’ Confederation of the Philippines (ECOP) on its plan to increase the monthly contribution (savings) rates for both employers and members, the agency’s top executive announced Tuesday (09 January).

With the agency gaining ECOP’s support, Pag-IBIG Fund has now secured both employer and labor groups’ backing as it plans to increase its nearly four-decade old savings rate this year.

“Over the years, Pag-IBIG Fund and ECOP have engaged in productive discourse to help shape responsive policies for the benefit of our stakeholders. We appreciate their recognition of the need for us to finally implement our new rates, after having deferred its implementation since 2021, so that we can increase our members’ benefits, address the growing loan demand of our members, maintain the affordability of our home loans, and ensure the sustainability and growth of Pag-IBIG Fund,” said Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta.

Under Pag-IBIG Fund’s new savings rates, the maximum monthly compensation to be used in computing the required two percent (2%) employee savings and two percent (2%) employer share of Pag-IBIG Fund members shall be increased to ten thousand pesos (P10,000), from the current five thousand pesos (P5,000). As a result, the monthly savings of Pag-IBIG Fund members, for both the employee’s share and the employer’s counterpart, shall increase to two hundred pesos (P200) each from the current one hundred pesos (P100).

In 2019, agency officials approved the increase of its members’ monthly savings rates after obtaining the concurrence of stakeholders to implement a planned increase in 2021. During that time, the agency saw the increase necessary as it projected that the amount of loans disbursed will eventually outpace the total collections from both loan payments and members’ savings. However, recognizing the effects of the pandemic to the economy, requests made by the business community led by ECOP, and the directive of President Ferdinand Marcos, Jr. early last year to provide workers and employers with relief from the continuing effects of the pandemic, Pag-IBIG Fund deferred the implementation of the new rates in years 2021, 2022 and 2023.

“For three consecutive years, Pag-IBIG Fund heeded our request to postpone the implementation of their new monthly savings rates in view of the difficulties brought by the pandemic. This time around, after having discussed the need for its implementation, we pose no further objection to their plan to push through with it this year,” said ECOP Honorary Chairman and President Sergio Ortiz-Luis, Jr.

p>“Our support is also a reflection of how we have seen Pag-IBIG Fund properly manage the funds that their members entrust to them. We also understand that the increase in Pag-IBIG’s savings rates means added benefit for their members, as this equates to an increase in their forced savings,” Ortiz-Luis added.

ECOP is one of the largest organizations representing employers in the Philippines. It serves as the umbrella organization for the country’s business community on important national issues on employment, industrial relations, labor issues and related social policies.

P1 Increase Rates 2024

The Trade Union Congress of the Philippines (TUCP) has expressed its support to Pag-IBIG Fund’s plan to increase the nearly four-decade old mandatory monthly savings rate for both members and their employers starting January 2024.

In its letter to Pag-IBIG Fund, the TUCP reiterated its position in 2019 supporting the agency’s planned increase. The trade union is one of the country’s largest labor organizations and is composed of 27 labor federations representing workers in the private and public sectors, seafarers, Overseas Filipino Workers (OFWs), and workers from the informal sector.

“The TUCP believes that the adjustment in the savings rates will double the amount of members’ maturity claims, as well as other important benefits of Pag-IBIG (Fund) members, such as cash loans, calamity loans and housing loan entitlements. In addition, an adjustment is necessary to restore the lost real value of the P100 minimum contribution which was set all the way back in 1986,” said Atty. Raymond Democrito T. Mendoza, who serves as President of the TUCP and as Deputy Speaker of the House of Representatives.

“The TUCP also recognizes the pivotal role of the Pag-IBIG Fund in ensuring continued access to affordable housing loans. Increasing the rates shall enable the (Pag-IBIG) Fund to sustain its affordable home loan interest rates,” Mendoza added.

Under Pag-IBIG Fund’s new savings rates, the maximum monthly compensation to be used in computing the required two percent (2%) employee savings and two percent (2%) employer share of Pag-IBIG Fund members shall be increased to ten thousand pesos (P10,000), from the current five thousand pesos (P5,000). As a result, the monthly savings of Pag-IBIG Fund members, for both the employee’s share and the employer’s counterpart, shall increase to two hundred pesos (P200) each from the current one hundred pesos (P100). Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta, meanwhile, expressed her appreciation for the support of the TUCP. She assured the trade union federation and Pag-IBIG Fund members of better benefits as the agency prepares to implement the new rates.

“We thank the TUCP for supporting our plans, and for recognizing that raising our monthly savings rates will allow Pag-IBIG Fund to continue to provide affordable home loans to its members in the coming years. It is also important to note that the increase in our monthly savings rates shall benefit our members the most because every peso they save will go to their Pag-IBIG Savings. Under our new rates, they will have higher Pag-IBIG Savings that earn annual dividends, which they shall receive upon membership maturity or retirement. And, because of their higher savings, they shall also be entitled to higher multi-purpose and calamity loan amounts to help them with their financial needs,” Acosta emphasized.

Source: Pag-IBIG Fund

Pag-IBIG Member Contributions Increase Starting in February 2024

Pag-IBIG Doubles Member Contributions to P200/month

MANILA — Pag-IBIG Fund has announced a 100-percent increase in member contributions starting in February 2024.

Pag-IBIG CEO Marilene Acosta said the new contribution will be P200, up from P100. Employers are mandated to match contributions, which means members will be saving P400 a month.

Acosta said the increase in contribution would eventually bring benefits to member workers since it would also increase the loanable amount for short-term loans, increase savings for when they retire and continue to lower interest for housing loans.

According to Acosta, Pag-IBIG Fund would raise around P38 billion per year in additional revenue with the increased contributions, which will let it keep interest for housing loans at 6 percent a year.

SOURCE: ABS-CBN - iWantTFC

Ang Sarap ng May Pag-IBIG ❤️

Ang sarap ng may Pag-IBIG ❤️

Ang aming handog sa aming 43rd Anniversary ay ang Pag-IBIG na deserve mo. Ang Pag-IBIG na may assurance!

#IsangPagIBIGnaRamdamNgLahat

Pag-IBIG Sets Records A New, Releases Nearly P51B in Cash Loans

Pag-IBIG Fund disbursed P50.79 billion in cash loans in the last ten months, breaking its record for the highest amount of cash loans released for any January to October period. The amount released benefitted 2,281,042 Pag-IBIG Fund members, also a record high.

From January to October, the amount of short-term loans released by the agency increased by 12 percent or P5.5 billion compared to the P45.29 billion released during the same period in 2022. The number of members assisted through the program also increased by 6 percent or 127,494 more than the 2,153,548 members from the previous year as more members utilized the agency’s online channel, the Virtual Pag-IBIG, to apply for cash loans. During the period, 743,362 members filed their loans online, an increase of 266,281 borrowers or 56% percent year-on-year.

“We are happy to report that Pag-IBIG Fund continues to provide Filipino workers with assistance on their immediate financial needs through our cash loans. The record-high amount of loans we released, as well as the highest ever number of members aided through these loan program, show that our short-term loans are among the top choices of Filipino workers in gaining additional funds for their needs. All these are part of our efforts in heeding the call of President Ferdinand Marcos, Jr. to provide the best service to the Filipino people,” said Secretary Jose Rizalino L. Acuzar, who heads the Department of Human Settlements and Urban Development (DHSUD) and the 11-member Pag-IBIG Fund Board of Trustees.

Pag-IBIG Fund’s Short-Term Loan Program includes the agency’s Multi-Purpose Loan (MPL) and Calamity Loan. Under the Pag-IBIG MPL, qualified members can borrow up to 80 percent of their total Pag-IBIG Regular Savings, which consists of their monthly contributions, their employer’s contributions, and accumulated dividends earned. The proceeds can be used to pay for tuition fees, medical expenses, minor home improvement, a family trip, or even serve as business capital. Borrowers may choose between a 24 or 36-month payment term, with the first payment deferred for two months. The Pag-IBIG Calamity Loan, on the other hand, is available to members residing or working in areas declared under a state of calamity. In the past years, the agency has returned more than 90 percent of its income, mostly derived from interest on loans, to members in the form of dividends.

Of the total amount of cash loans released by the agency, P48.32 billion were in the form of Pag-IBIG MPLs which helped 2,131,435 members, while P2.48 billion were in the form of Calamity Loans which in turn aided 149,607 members.

Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta, meanwhile, cited the reliability and ease of access in availing the Pag-IBIG’s Short-Term Loans as the main drivers for its strong growth. She further noted that with more members applying for loans using the Virtual Pag-IBIG, the amount of cash loans released by the agency in January to October from online applications surged to P16.65 billion, an increase of P6.51 billion or a 64% increase year-on-year.

“We at Pag-IBIG Fund recognize that each and every year, millions of our members rely on our Pag-IBIG MPL for their immediate financial needs. That is why we have made the application for our cash loans more accessible and easier for our members. Today, our members can easily and conveniently apply for these loans through many channels, which include their employers or at any of our more than 200 branches nationwide. Members may now also apply for a cash loan anytime, anywhere by using our online channels, the Virtual Pag-IBIG or the Virtual Pag-IBIG Mobile App. Our members can rest assured that our programs shall always be reliable, and that we shall continuously find ways to make their benefits accessible them,” Acosta said. (END)