What is Pag-IBIG Fund in the Philippines?
The Home Development Mutual Fund also known as PAGIBIG FUND is a Philippine Government-controlled corporation that provides affordable shelter through financing and other national saving program in the Philippines.
Is Pag-IBIG Fund a government agency?
The Home Development Mutual Fund (HDMF), commonly known as the Pag-IBIG ( Pagtutulungan sa Kinabukasan, Ikaw, Bangko, Industriya at Gobyerno) Fund, is a government-owned and controlled corporation under the Department of Human Settlements and Urban Development of the Philippines responsible for the administration of …
What does Pag-IBIG Fund do?
Pag-IBIG Fund guarantees the refund of member’s savings or Total Accumulated Value (TAV), which consists of the member’s personal savings, employer counterpart (if any), and all dividend earnings upon occurrence of any of the following grounds: Membership maturity after 20 years and 240 monthly membership savings.
Who made Pag-IBIG Fund?
The Home Development Mutual Funs (HDMF), also known as the Pag-IBIG Fund, or the Fund, was created on June 11, 1978 by virtue of Presidential Decree (PD) No. 1530 to address two of the country’s basic needs: generation of savings and provision of shelter for the Filipino workers.
Does PAG-IBIG have pension?
The Pag-IBIG Regular Savings is a secure and convenient savings facility that gives you high annual dividend earnings to help secure your future. This is because you can eventually withdraw your savings after membership maturity of 20 years, retirement and other grounds.
How much is PAG-IBIG contribution 2021?
If you’re earning ₱10,000 per month, for example, your Pag-IBIG monthly contribution is ₱100, which is the maximum currently allowed. Your employer’s share is ₱100….Pag-IBIG Contribution Table for 2021.
| Monthly Compensation | Employee Share | Employer Share |
|---|---|---|
| ₱1,500 and below | 1% | 2% |
| Over ₱1,500 | 2% | 2% |
Does Pag-IBIG have pension?
Why is Pag-IBIG called Pag-IBIG?
Pag-IBIG is an acronym which stands for Pagtutulungan sa Kinabukasan: Ikaw, Bangko, Industria at Gobyerno. To this day, the Pag-IBIG Fund continues to harness these four sectors of the society to work together towards providing Fund members with adequate housing through an effective savings scheme.
Can I withdraw my Pag-IBIG contribution after 5 years?
Members can make a Pag-IBIG membership maturity claim after 20 years of membership. If you’re a Pag-IBIG Overseas Program (POP) member, you can claim your contributions at the end of five, 10, 15, or 20 years, depending on the option you chose during your membership registration.
Who can be beneficiaries of Pag-IBIG?
An individual at least 18 years old but not more than 65 years old may register with the Fund under voluntary membership. However, said individual shall be required to comply with the set rules and regulations for Pag-IBIG members including the amount of contribution and schedule of payment.
Can I withdraw my Pag-IBIG contribution after 15 years?
Can I withdraw my Pag Ibig Fund?
You may withdraw your Pag-IBIG Regular Savings upon the occurrence of certain grounds. These include the following: Membership maturity after 20 years, equivalent to 240 monthly contributions. Retirement at age 60 (optional retirement age) or at 65 (mandatory retirement age);