1. what is the pag-ibig savings program? 2. who should ... savings faqs... · employer-members can...

1. What is the Pag-IBIG Savings Program? • ThePag-IBIGSavingsProgramisafast,easyandaffordablewayforPag-IBIGmemberstosavefortheirfuture. Theirmonthlysavings,employercounterpartshare(ifany)andtotalannualdividendearningscomprisethemember’sTotal AccumulatedSavingsorTAV.

2. Who should register as Pag-IBIG members?• WiththesigningofRepublicAct9679,membershiptoPag-IBIGismandatoryforthefollowing:

* Allemployees,workers,professionals,officersandcompanieswhoarecompulsorilycoveredbytheSSSandGSIS;* UniformedmembersoftheArmedForcesofthePhilippines,theBureauofFireProtection,theBureauofJailManage

mentandPenology,andthePhilippineNationalPolice;* OverseasFilipinoWorkers;* Filipinosemployedbyforeign-basedemployers,whetherdeployedlocallyorabroad* Kasambahays* Otherworkinggroups

• Personswhoareatleast18yearsoldbutnotmorethan65yearsoldandarenotsubjecttomandatorycoveragemaybe coveredbytheFundonavoluntarybasis,towit:

* Unemployedspouses* Filipinoemployeesofforeigngovernmentorinternationalorganizationortheirwholly-ownedinstrumentalitybasedin thePhilippines* EmployeesofanemployerwhoisgrantedawaiverorsuspensionofcoveragebytheFund* Leadersandmembersofreligiousgroups* Amemberseparatedfromemployment,localorabroad,orceasedtobeself-employed,i.e.pensioners,investor,etc.* PublicofficialsofemployeeswhoarenotcoveredbytheGSISsuchasbarangayofficialsandworkers

3. How much is the monthly savings?• Themonthlysavingsrateforallmembers,exceptnon-workingspouses,areasfollows:

Monthly Salary Percentage of Monthly CompensationEmployeeSavings EmployerShare

P1,500andbelow 1% 2%OverP1,500 2% 2%

With P5,000 as the maximum monthly compensation used in computing the employee savings,the maximum employer counterpart share is P100, while members are encourage to save more than the minimum P100 monthly.

4. Where can members pay their monthly savings?Employer-memberscanpaythroughanyofthefollowingonlinepaymentgateways(enrollmentisrequired):

• UnionBankofthePhilippines(UBP)-Pag-IBIGHub• BankofthePhilippines(BPI)-ExpressLink• LandBankofthePhilippines–wePayAcces

Availablesoon:

• Banknet-Pag-IBIGNet• SecurityBank–Pag-IBIGRealTime

Self-payingmemberscanremittheirmonthlysavingsatthefollowing:

• BayadCenteroutlets(withconveniencefeeofP7.00)• SMBusinessCenters(withconveniencefeeofP5.00)• GlobeGCash(withconveniencefeeofP5.00)• OnlineusingVISAandandMasterCardCreditCards(conveniencefeeof3.6%oftheamounttobepaid;e.g.P1,000=P36.00)

Forotherdetails,visitthePag-IBIGFundwebsiteatwww.pagibigfund.gov.phandclick“PaymentsMadeEasy”.

5. What are the features of the Savings Program?• Allsavingsaregovernment-guaranteed• Taxfreeannualdividendearnings• Withtheemployercounterpartshare,members’monthlysavingsisimmediatelydoubled• Portabilityofsavings–memberswhotransferemployers,fromgovernmenttotheprivatesectorandvise-versa,carrytheir Fundmembershipandmaycontinueitatanytime.

6. What are the benefits of Pag-IBIG membership?• Pag-IBIGmembersenjoythefollowingbenefits

* Annualdividendearnings,tax-free* AccesstoShort-TermLoanPrograms* AccesstoHousingLoanProgram

7. When can a member withdraw his/her total savings from Pag-IBIG?• Amembermaywithdrawhis/hertotalPag-IBIGsavings(providentbenefitsclaim)uponoccurrenceofanyofthefollowing:

* Membershipmaturityafter20yearsofcontinuousmembership.Themembermusthaveremittedatleast 240monthlymembershipcontributionswiththeFund.* Memberswhoregisteredin2010,underRS9679hastheoptiontowithdrawtheirsavingsafter15years ofcontinuousmembership.* Retirement.Themembershallbecompulsorilyretireduponreachingage65.Hemayhowever,opttoretire upontheoccurrenceofanyofthefollowing:

◊ ActualretirementfromtheSSS,theGSISoraseparateemployerprovident/retirementplan,providedthe memberisleast45years◊ Uponreachingage60.

* PermanentandTotalDisabilityorInsanity.* Separationfromtheserviceduetohealthreason* Permanentdeparturefromthecountry* Upondeathofthemember,wherehislegalheirsshallreceivehisTAVplusanadditionalDeathBenefitGrant equivalenttothisTAVorP6,000,whicheverislower.

8. Where to file for provident benefits claim and what are the basic requirements?• AmemberwhoiseligibletoapplyforprovidentbenefitsclaimmayfiletheapplicationatthePag-IBIGbranchservicing his/heraccount,andbringwithhim/herthefollowing:

* DulyaccomplishedApplicationforProvidentBenefits(APB)Claim(Downloadablefromthewebsite (www.pagibigfund.gov.ph)* Two(2)validIDs* UpdatedServiceRecord(Forgovernmentemployees)* SpecialPowerofAttorneyandtwo(2)validIDseachofthePrincipalandAttorney-in-Fact (Ifmembercannotclaimpersonally)* Otherrequirements,dependingonthereasonforwithdrawaloftotalsavings (checkwebsiteforcompletechecklistofrequirement)

Contents last updated on August 2014.