Members save record-high P52.5 B in Pag-IBIG Fund in Jan-Oct, up 35%; MP2 Savings breach P21 B, up 110%

UNTV News   •   December 6, 2021   •   238

 

MANILA, Philippines — Pag-IBIG Fund members have saved more than P52 billion in the last 10 months, breaking yet another record for the period and exceeding full year figures from before the pandemic, top agency officials announced on November 24.

From January to October, the amount collectively saved by members with the agency totaled P52.47 billion – the highest for any 10-month period.

The savings collected so far this year grew 35% from the same period in 2020 and 26% higher compared to figures from 2019, which is the agency’s best performing year yet.

“Even during these challenging times, we are happy to see that members are still keen on growing their savings with Pag-IBIG Fund. With the amount of savings increasing by P13.66 billion compared to last year and P10.81 billion compared to our best year in 2019, these numbers clearly show that Pag-IBIG Fund has already recovered from the effects of the pandemic,” said Secretary Eduardo D. del Rosario, who heads the Department of Human Settlements and Urban Development (DHSUD) and the 11- member Pag-IBIG Fund Board of Trustees.

“In fact, the P52 billion savings collected as of October this year already exceeds the amount of savings collected for the whole 12 months in all previous years. With more savings, Pag-IBIG now has more funds for its programs to help more members in the coming months and even years. This is our contribution to the recovery of the nation, which is being led by President Duterte,” he added.

Driving the growth is the agency’s voluntary savings program, the Modified Pag-IBIG 2 or MP2, according to Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti. He said that in the last 10 months, MP2 savings amounted to a record-breaking P 21.43 billion or 41% of the total savings collected for the period.

“We have seen the dramatic increase in MP2 in the last five years. In fact, the MP2 is the only figure that did not show signs of slowing down, and even grew during the pandemic. But the growth in 2021 is truly remarkable,” said Moti.

“The P21.43 billion MP2 savings as of October is more than double the P10.21 billion collected in the same period last year and is already P8.16 billion more than the P13.27 billion collected for the whole 2020. To put it into another perspective, MP2 has grown so much this year that savings as of October is higher than the total amount collected from 2012 to 2019 combined!” he further said.

The agency added that the increase in purely voluntary savings corroborates the results of the 2021 Philippine Trust Index that ranked Pag-IBIG Fund as the most trusted GOCC.

“We thank our members for their continued trust in Pag-IBIG Fund and in choosing to rely on us to grow their hard-earned savings. We still have a few more weeks before we end the year, and with numbers such as these, I am optimistic that 2021 will be another milestone year and the start of another wave of ‘best year evers’ as we help even more members securely save for their future goals,” said Moti.

Pag-IBIG Fund now accepting application for calamity loan of members in Odette-hit areas

Maris Federez   •   December 29, 2021

MANILA, Philippines — The Home Development Mutual Fund (Pag-IBIG Fund) has announced the allocation of Php5 billion in calamity loans and is now accepting applications to help its members affected by Typhoon Odette.

“In times like these, Pag-IBIG Fund is always ready to help members through our Calamity Loan Program. That is why the Pag-IBIG Board has allocated a calamity loan fund of P5 billion as an aid for our members in Visayas and Mindanao to help them recover from the devastation caused by typhoon Odette,” said Department of Human Settlements and Urban Development (DHSUD) Secretary Eduardo D. del Rosario in a statement released recently.

Under the Pag-IBIG Calamity Loan Program, eligible members may borrow up to 80% of their total Pag-IBIG Savings, which consist of their monthly contributions, the counterpart employer’s contributions, and accumulated dividends earned, the statement said.

And in consideration of the plight of the members, the calamity loan is offered at a rate of 5.95% per annum which is the lowest rate in the market, it added.

The loan is payable over a period of up to three years. It gives the borrower a grace period of two months so that the initial payment is due only on the third month after the loan is released.

Qualified borrowers may apply for the loan within 90 days from the date when an area has been declared under a state of calamity.

Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti said members in affected areas who have access to internet service and have a Pag-IBIG Loyalty Card Plus, Land Bank of the Philippines or United Coconut Planters’ Bank (UCPB) cash card, may file their Calamity Loan applications online via Virtual Pag-IBIG.

Pag-IBIG Fund allocates P5B in Calamity Loan to help members in Odette-hit areas

UNTV News   •   December 23, 2021

Pag-IBIG Fund has allocated P5 billion in Calamity Loans to help its members affected by typhoon Odette, its top executives announced on Wednesday (Dec. 22).

“In times like these, Pag-IBIG Fund is always ready to help members through our Calamity Loan Program. That is why the Pag-IBIG Board has allocated a calamity loan fund of P5 billion as aid for our members in Visayas and Mindanao to help them recover from the devastation caused by typhoon Odette,” said Secretary Eduardo D. del Rosario, who heads the Department of Human Settlements and Urban Development (DHSUD) and the 11- member Pag-IBIG Fund Board of Trustees.

Under the Pag-IBIG Calamity Loan Program, eligible members may borrow up to 80% of their total Pag-IBIG Savings, which consist of their monthly contributions, the counterpart employer’s contributions, and accumulated dividends earned. And in consideration of the plight of the members, the Calamity Loan is offered at a rate of 5.95% per annum which is the lowest rate in the market.

The loan is payable over a period of up to three years, with a grace period of two months so that initial payment is due only on the third month after the loan is released. Qualified borrowers may apply for the Calamity Loan within 90 days from the date when an area has been declared under a state of calamity.

Meanwhile, Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti added that as of November this year, more than P1.15 billion in Calamity Loans have been released by the agency to help 76,521 members in calamity-hit areas. He also added that the program has been made more affordable as borrowers now have the option to choose a longer 3-year term to reduce monthly payments by up to 31%. This means that for a Calamity Loan worth P20,000, monthly payments will be reduced from P897.23 to only P615.72.

“Members in affected areas who have access to internet service and have a Pag-IBIG Loyalty Card Plus, Land Bank of the Philippines or United Coconut Planters’ Bank (UCPB) cash card, may file their Calamity Loan applications online via Virtual Pag-IBIG. This would allow them to file and receive their loans safer and faster, so that they can continue to tend to the needs of their families as they recover from the effects of the typhoon.

And, even while our own offices and personnel in typhoon-hit areas have also been affected, our branches are open and ready to receive loan applications. Your Lingkod Pag-IBIG is committed to deliver service that matters, always and in all ways,” said Moti.

Pag-IBIG Fund is most trusted GOCC in 2021 Philippine Trust Index

UNTV News   •   December 1, 2021

 

MANILA, Philippines — Pag-IBIG Fund is the most-trusted government-run corporation according to a nationwide trust survey of key institutions in the Philippines.

This is according to the 2021 Philippine Trust Index (PTI), a nationwide survey by the EON Group that cuts across backgrounds to measure Filipinos’ trust in the government, the business sector, the media, non-governmental organizations, the Church, and the academe.

“We are truly honored to be included in the list of most trusted government agencies. The latest results of the Philippine Trust Index and our 9th straight unmodified opinion from COA show that we have fulfilled our duties during the pandemic while still maintaining the highest standards of transparency and integrity in our work. This is aligned with President Duterte’s vision of clean government with heart for service,” said Secretary Eduardo D. del Rosario, who heads the Department of Human Settlements and Urban Development (DHSUD) and the 11-member Pag-IBIG Fund Board of Trustees.

The 2021 PTI noted that “in terms of government agencies, departments that got the highest trust are those whose functions require them to remain engaged with the public, even during the pandemic such as online learning, finance regulation, loan assistance and aid distribution.”

The Department of Education earned the highest trust rating of 91% followed by Pag-IBIG Fund at 89% – the highest among GOCCs on the list.

“On behalf of all Lingkod Pag-IBIG, thank you for your trust, our dear members! As you know, we never stopped providing service even during the lockdown and community quarantines. Instead, we improved our digital assets so you can continue transacting with us online,” Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti said.

“We have proven that during this health crisis, you can always count on our Lingkod Pag-IBIG brand of service. And, while we have previously received awards and recognition, we are even more grateful that it is the public itself, the people we serve, that ranked us as the most trustworthy GOCC in the country for 2021,” he added.

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