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Pag-IBIG Board Approves Postponement of 2023 Contribution Hike

BULGAR
Mar 7, 2023

by Info @Brand Zone | March 7, 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 w ww.pagibigfund.gov.ph o tumawag sa numerong 8-724-4244 ( 8-Pag-IBIG ).

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

Sa ilalim ng MP2 Savings program.. P39.84B, naipon ng Pag-IBIG members noong 2022

BULGAR
Mar 3, 2023

ni Fely Ng @Bulgarific | March 3, 2023

Hello, Bulgarians! Ayon sa pahayag ng mga mataas na opisyal ng Pag-IBIG Fund, ang mga miyembro nito ay patuloy na nagpapakita ng suporta sa MP2 Savings program noong 2022 dahil sa kabuuang ipon na umabot sa halos P40 bilyon, na may bagong record-high para sa halagang boluntaryong naipon ng mga miyembro sa ilalim ng programa.

Para sa 2022, umabot sa P39.84 bilyon ang ipon ng mga miyembro sa ilalim ng Modified Pag-IBIG 2 (MP2) Savings Program, na nakamit ang kahanga-hangang 54% na pagtaas mula sa P25.95 bilyon na nakolekta noong 2021.

“Pag-IBIG Fund has again set another record, this time in the amount saved by members under the MP2 Savings Program. This shows the unwavering trust of our members in our capability to excellently and prudently manage their hard-earned peso. With our strong collections, we can continue to finance the loans of our members and keep our interest rates low. These are in line with our efforts of supporting the call of President Ferdinand Marcos, Jr. to provide a better life for all Filipinos,” pahayag ni Secretary Jose Rizalino L. Acuzar, na namumuno sa Department of Human Settlements and Urban Development (DHSUD) at sa 11-member Pag-IBIG Fund Board of Trustees.

Ang MP2 Savings Program ay isang special voluntary savings facility ng Pag-IBIG Fund na may maturity period na limang taon. Sa mababang entry point na P500 bilang pinakamababang savings, ito ay idinisenyo para sa mga aktibong miyembro ng Pag-IBIG Fund na gustong makaipon ng higit pa at makakuha ng mas mataas na dibidendo, bukod pa sa mandatory Pag-IBIG Regular Savings na kanilang iniipon bawat buwan. Nagbibigay ito sa mga miyembro ng opsyon na i-claim ang mga kita ng kanilang MP2 Savings taun-taon o pinagsama-sama sa oras ng maturity nito. Bukas din ang programa sa mga pensioner at retirees na dating miyembro ng Pag-IBIG at may dalawang taong ipon bago magretiro. Sa simula ay ginawang available sa mga miyembro noong 2010, ang MP2 Savings ay nakitaan ng kahanga-hangang paglago sa nakalipas na ilang taon, dahil mas maraming miyembro ang nakakakita nito bilang ligtas at low-risk sa pagtitipid na nagbibigay ng competitive returns.

“We are very happy that the MP2 Savings continues to encourage more and more Filipino workers to save. Through the program, we have made more Filipino workers appreciate the value of saving by providing them with a secure savings channel for their future goals. Our members can rest assured that we shall do our best to grow their savings and provide them the highest possible returns. That is Lingkod Pag-IBIG at work,” sabi ni Acosta.

Para sa anumang impormasyon, opinyon, isyu o maging imbitasyon, mag-e-mail sa bulgarific@gmail.com o sumulat kay Ms. Bulgarific at ipadala sa Bulgar Bldg., 538 Quezon Avenue, Quezon City.

Pag-IBIG members save record-high P39.84 B under MP2, up 54% in 2022

BULGAR
Feb 27, 2023

by Info @Brand Zone | February 27, 2023

Pag-IBIG Fund members continue to show preference in the MP2 Savings program in 2022 as total savings reached nearly P40 billion, setting yet a new record-high for the amount saved voluntarily by members under the program in a year, its top officials said Monday (27 February).

For 2022, members’ savings under the Modified Pag-IBIG 2 (MP2) Savings Program reached P39.84 billion, achieving an impressive 54% increase from the P25.95 billion collected in 2021.

“Pag-IBIG Fund has again set another record, this time in the amount saved by members under the MP2 Savings Program. This shows the unwavering trust of our members in our capability to excellently and prudently manage their hard-earned peso. With our strong collections, we can continue to finance the loans of our members and keep our interest rates low. These are in line with our efforts of supporting the call of President Ferdinand Marcos, Jr. to provide a better life for all Filipinos,” 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.

The MP2 Savings Program is a special voluntary savings facility of Pag-IBIG Fund that comes with a maturity period of five years. With a low entry point of P500 as minimum savings, it is designed for active Pag-IBIG Fund members who wish to save more and earn higher dividends, in addition to the mandatory Pag-IBIG Regular Savings they save every month. It provides members the option to claim the earnings of their MP2 Savings annually or compounded at the time of its maturity. The program is also open to pensioners and retirees who were once Pag-IBIG members and had at least two years worth of savings prior to retirement. Initially made available to members in 2010, the MP2 Savings has seen phenomenal growth over the past few years, as more members find it as a safe and low-risk savings facility which provides competitive returns.

Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta, meanwhile, noted the increase in the total number of MP2 savers in 2022. From 750,267 in 2021, MP2 savers increased to 977,643 or 30.3% by the end of 2022. Acosta further emphasized that the MP2 has become an instrument that has allowed more workers to save, with 86% of the agency’s total MP2 Savers having an average savings of P19,357.