PBBM lauds highest Pag-IBIG dividend rates since pandemic: 6.53% for Regular Savings, 7.03% for MP2

by Info @Brand Zone | March 28, 2023

President Ferdinand R. Marcos Jr. lauded Pag-IBIG Fund’s highest dividend rates since the Covid-19 pandemic, as its Regular Savings dividend rate for 2022 reached 6.53 percent and its Modified Pag-IBIG 2 (MP2) Savings surged to 7.03 percent per annum

The dividend rates on the members' savings of the agency were the highlights of the Pag-IBIG Fund Chairman’s Report for 2022, where the president spoke before a gathering of agency members, partners and stakeholders at the SMX Convention Center, Tuesday (March 28).

“It makes me proud that your agency’s stewardship of our national savings program has successfully provided affordable shelter financing for our people. Let me thank all of you, the members who are the owners of Pag-IBIG Fund, including concerned housing developers, partners, and other key stakeholders who have been instrumental in fulfilling the Pag-IBIG Fund’s mandate, of serving the Filipino workforce,” the President said.

“As the Pag-IBIG Fund was established under the presidency of my father, I look forward to your efforts in continuing his legacy of quality public service into the future. I urge you to sustain the transparency and accountability in all the work that you do. Thus, we are able to maintain the public's renewed trust in government. Let us ensure that the Pag-IBIG Fund remains at the forefront of fulfilling our peoples' aspirations,” the chief executive added.

Pag-IBIG Fund posted its best performing year in 2022 as the agency’s net income reached a record high P44.50 billion, a 28% increase from the P34.69 billion the year prior.

The agency also reported several record high figures for the year, with home loans reaching P117.85 billion; total membership savings collected amounting to P79.90 billion and loan payments amounting to P127.42 billion.

Pag-IBIG Fund also assisted the highest number of members with 105,212 securing new homes from its housing loan programs and over 2.61 million aided through its short-term loans. The agency ended the year with total assets at its highest, amounting to P827.40 billion.

Secretary Jose Rizalino Acuzar of the Department of Human Settlements and Urban Development (DHSUD), who also heads the 11-member Pag-IBIG Fund Board of Trustees, explained that the dividend rates are the result of the agency’s record-high net income coupled with the highest dividend payout ratio approved by the Pag-IBIG Board.

Acuzar said that while the agency is required to give back to members only at least 70 percent of its annual net income as dividends, the Pag-IBIG Board approved a 97 percent payout ratio, resulting in a dividend amount to P42.70 billion - the highest in the agency’s history.

“We at Pag-IBIG do all that we can to keep the returns on our members’ savings high, while ensuring the Fund’s sustainability and stability. With Pag-IBIG Fund capably led by its CEO 'Manang' Malen Acosta having its best performing year in 2022, we were able to declare the highest amount of dividends for our members’ savings in our 42-year history,” the DHSUD chief said.

“Truly, when Pag-IBIG Fund performs well, it is our members who benefit the most. We assure our members that Pag-IBIG Fund shall be their reliable partner as they pursue a better and more secure future,” the Pag-IBIG Chairman noted.

LEARN MORE

Pag-IBIG Fund

Maaaring bisitahin ang official website ng Pag-IBIG sa www.pagibigfund.gov.ph o tumawag sa numerong 8-724-4244 ( 8-Pag-IBIG ).

Feel the Pag-IBIG: https://www.pagibigfundservices.com/virtualpagibig/

Pag-IBIG releases P53.76B cash loans in 2022; Assists record-high 2.61M members

by Info @Brand Zone | March 21, 2023

Pag-IBIG Fund disbursed P53.76 billion in cash loans, otherwise known as short-term loans, benefitting a record-high 2,612,491 members in 2022, agency officials stated Tuesday (21 March 2023).

For 2022, the amount of short-term loans released by the agency increased by 21% or P9.46 billion compared to the P44.30 billion released in 2021. With the amount, the number of members assisted through the program increased by 24% or over half a million more than the 2,090,851 members in 2021.

“We at Pag-IBIG Fund exert all efforts in providing our members with assistance on their financial needs. We are happy to note that through our Short-Term Loan Program, we were able to aid more than 2.6 million Filipino workers gain added funds to tend to their needs last year. All our efforts are in line with 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. Borrowers may choose between a 24 or 36-month payment term and are provided a two-month grace period prior to their first payment. The MPL comes at an interest rate of 10.5 percent per annum. The Pag-IBIG Calamity Loan, on the other hand, is made available to members residing or working in areas declared under a state of calamity.

Of the total amount of cash loans released by the agency, P49.85 billion were in the form of Pag-IBIG MPLs which helped 2,313,143 members, while P3.91 billion were in the form of Calamity Loans which in turn aided 299,348 members.

Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta, meanwhile, cited the reliability and ease of access in availing the Pag-IBIG’s MPL and Calamity Loan as the main drivers for its strong growth.

“We at Pag-IBIG Fund are aware that millions of our members rely on our MPL for their immediate financial needs and our Calamity Loan to help rebuild their lives. That is why we have made these loan programs more accessible and easier to avail for our members. Today, our members can easily and conveniently apply for these loans through many channels, which include their employers, our more than 200 branches and services offices nationwide, or online via the Virtual Pag-IBIG or the Virtual Pag-IBIG Mobile App. What’s more, we also have our Lingkod Pag-IBIG On Wheels which are currently going around the country, ready to receive loan applications from members particularly those from underserved and calamity-stricken areas,” said Acosta.

LEARN MORE

Pag-IBIG Fund

Maaaring bisitahin ang official website ng Pag-IBIG sa www.pagibigfund.gov.ph o tumawag sa numerong 8-724-4244 ( 8-Pag-IBIG ).

Feel the Pag-IBIG: https://www.pagibigfundservices.com/virtualpagibig/

Pag-IBIG Board Approves Postponement of 2023 Contribution Hike

by Info @Brand Zone | March 16, 2023

The Pag-IBIG Fund Board of Trustees officially approved the postponement of the

agency’s contribution hike in 2023, citing the continuing recovery of both workers and

business owners from the pandemic, its top officials announced Monday (06 March).

Secretary Jose Rizalino L. Acuzar, who heads the Department of Human Settlements

and Urban Development and the 11-member Pag-IBIG Fund Board of Trustees, said

that they unanimously approved the recommendation of the Pag-IBIG Fund

Management to defer the hike in the monthly contributions of its members in 2023 –

affirming pronouncements made by the agency earlier this year – and move the

implementation by one year to January 2024. The deferment also applies to the share

of their employers.

“We recognize that many of our members and employers are still in the midst of

recovering from financial challenges arising from the effects of the pandemic on the

economy. After consulting with our stakeholders, we have officially approved the

deferment of the increase of Pag-IBIG members’ monthly contributions for another

year. This is in line with the call of President Ferdinand Marcos, Jr. to alleviate the

financial burden of our fellow Filipinos due to the prevailing socio-economic challenges

brought about by the Covid-19 pandemic,” Acuzar stated.

In 2019, agency officials approved the increase of its members’ monthly contributions

after obtaining the concurrence of stakeholders to implement a planned contribution

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’ contributions.

However, recognizing the effects of the pandemic on both its members and the

business community, Pag-IBIG Fund has deferred for the third consecutive year the

increase of its contributions rates which remain unchanged since 1986.

According to Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta, the agency’s

robust fiscal standing and strong collections driven by members opting to save more

under the agency’s Regular and MP2 Savings programs, shall allow it to address the

growing loan demand of members even without a contribution rate increase this year.

“Our strong financial position shall allow us to again postpone the increase in our

contribution rates for a year. We are happy to report that even without any increase in

our rates, we were able to post record-highs in 2022 with our membership savings

collections reaching nearly P80 billion, loan payment collections amounting to P127.42

billion, short-term loan releases at 57.69 billion and home loan takeout amounting to

P117.85 billion.

And, with the continued trust and support of our members, the business community and housing industry partners, we look forward to achieving another banner year for Pag-IBIG Fund in 2023 despite not increasing our contribution rates for the 37th consecutive year,” Acosta said.

LEARN MORE

Pag-IBIG Fund

Maaaring bisitahin ang official website ng Pag-IBIG sa www.pagibigfund.gov.ph o tumawag sa numerong 8-724-4244 ( 8-Pag-IBIG ).

Feel the Pag-IBIG: https://www.pagibigfundservices.com/virtualpagibig/