Pag-IBIG to increase member contributions in February 2024
MANILA, Philippines — The Home Development Mutual Fund or the Pag-IBIG Fund said that it will raise its member contributions in February 2024.
In a phone interview with the Pag-IBIG Fund on Tuesday, monthly contributions from employees and employers will be increased to P200, from the minimum P100.
“Magiging 200 po for employees, and 200 po for employers, up to a total of 400 per month,” Pag-IBIG told INQUIRER.net.
(It will be raised to P200 for employees, and P200 for employers, up to a total of P400 per month.)
READ: Pag-IBIG sets records anew, releases nearly P51B in cash loans
According to the Pag-IBIG, this increase was done to “sustain the needs of its members” and will also be reflected in members’ benefits.
“Kung bakit po nag-increase po, para po ma-sustain ‘yong pangangailangan ng Pag-IBIG members so ‘yon naman pong for regular contributions na pag-iincrease, makikinabang pa rin naman po ‘yong mga Pag-IBIG members,” it said.
(On the question of why it was increased, this is to sustain the needs of Pag-IBIG members, so for increasing regular contributions, Pag-IBIG members will still benefit.)
READ: Pag-IBIG approves P12B funding for over 9,000 4PH housing units
“Kung marami pong savings ng isang Pag-IBIG member, malaki din po yung ma-eearn nila. So babalik at babalik pa rin po ‘yon sa Pag-IBIG member,” it added.
(If a Pag-IBIG member has more savings, they will earn more. It will eventually return to the Pag-IBIG member.)
