The local office of the Pag-IBIG Fund said the mandatory monthly savings of P100 will be raised to P150 effective January 2021 and to P200 by 2023 to help members avail larger amounts of loan.
Puerto Princesa branch officer-in-charge Emely Platero said that the increases were approved by the agency’s Board of Trustees (BOT) and were urged through months of public consultation and getting support from both labor and employer groups.
“Kapag itataas mo ang contribution, ibig sabihin mas malaki ang ma-avail mo na loan kay Pag-IBIG Fund. Actually, lagi naman tayong nagka-conduct ng forum every quarter, meron tayong kina-conduct, ini-invite natin ang mga employer and marami ang nagtatanong kung bakit itinataas kasi ‘yong mga counterparts namin, SSS, PhilHealth almost every year ay nagtataas ng contribution,” she said.
She said if a member will have a larger amount of contribution, the member would also gain a larger dividend.
Platero said that during the span of membership with Pag-IBIG, a member could avail benefits such as getting a multi-purpose loan based on total contributions.
“Kung P150 ka a month and P150 ang employer share dahil may employer ka so P300 na ang papasok sa pangalan mo. In one year, magkano siya, so ‘yong buong ‘yon ay tutubuan ni Pag-IBIG Fund. After your retirement, maqua-qualify ka doon sa withdrawal ni Pag-IBIG, lahat ng ‘yon plus ‘yong tinubo ng pera mo, ibabalik sayo ni Pag-IBIG,” Platero said.
“During your membership with Pag-IBIG, una makaka-avail ka ng loan. Ang loan mo, ang multi-purpose loan mo ay based on your total contribution, total savings. Eighty percent of that is ‘yon ang ma-avail mo na loan, malaki ‘yon. Pero ‘yong interest niya ay hindi tataas, same pa rin, 10.5 percent per annum,” she added.
The P100 monthly mandatory saving has been implemented by the Pag-IBIG for three decades, she said.