Pag-IBIG Fund Cagayan de Oro Branch Pag-IBIG Fund Building JR Borja-Mortola Sts., Cagayan de Oro City Pag-IBIG Fund Bukidnon Extension Office Tubeo Bldg., Damasco Street Malaybalay City Bukidnon Home Development Mutual Fund (HDMF) ACRONYM Pagtutulungan sa kinabukasan Ikaw Bangko Industriya Gobyerno TWIN MANDATES Savings Shelter / Housing Pag-IBIG Fund HISTORY Republic Act No. 9679 Signed by PGMA HDMF Law of 2009 on 21 July 2009 Published on 12 August 2009 Became effective on 27 August 2009 MEMBERSHIP COVERAGE MANDATORY MEMBERSHIP COVERAGE All Private and Government Employees (SSS & GSIS members), as mandated under Republic Act 9679 PROVIDENT SAVINGS PROGRAM MONTHLY CONTRIBUTION RATES Monthly Compensation Employer Counterpart Personal Share P1,500 & Below P1,500 to P5,000 1% + 2% + 5,000.00 – maximum compensation for computing monthly contribution 2% 2% PROVIDENT SAVINGS PROGRAM SALIENT FEATURES Double or triple your money benefit I. Monthly Compensation is more than P1,500.00 Example: Your income is P 5,000.00 Personal Share = P100.00 (2%) Employer Counterpart= P100.00 (2%) Monthly Savings = P200.00 (4%) PROVIDENT SAVINGS PROGRAM • A member may be allowed to contribute more than the required rates should he or she so desires. •The employer, however, shall only be mandated to contribute what is required, unless it agrees to match the member’s increased contribution. MONTHLY REMITTANCE SCHEDULE of Pag-IBIG Fund CONTRIBUTIONS & MPL NAME OF EMPLOYER (Alphabetical Order) DATE OF REMITTANCE Individual Payor Before the 10th of the month following the period covered A to D 10th to 14th of the month following the period covered E to L 15th to 19th of the month following the period covered M to Q 20th to 24th of the month following the period covered R to Z, Numeral 25th to end of the month following the period covered PROVIDENT SAVINGS PROGRAM SALIENT FEATURES Tax Free Dividend earnings based on the Member’s Total Accumulated Value (TAV) Employees Statement of Accumulated Value (ESAV) Portability of Savings Government Guaranteed Withdrawable upon the occurrence of any ground for termination of membership MULTI-PURPOSE LOAN PROGRAM MULTI – PURPOSE LOAN PROGRAM Savings Based (Total Accumulated Value) 24 monthly contributions (2 years in residency) Active Member Updated HousingLoan Account MULTI – PURPOSE LOAN PROGRAM Loan Amount REQUIRED NUMBER OF CONTRIBUTIONS LOAN AMOUNT 24 – 59 months Up to 60% of member’s TAV 60 – 119 months Up to 70% of member’s TAV At least 120 months Up to 80% of member’s TAV MULTI – PURPOSE LOAN PROGRAM Interest Rate - 10. 75 % per annum Loan Term - 2 years Loan Renewal - 6 months Processing Time - 1 day or 2 days Loan Release - Check or ATM (DBP/LBP) Payment Scheme – Salary deduction/OTC TAV Offset in case of the following: Unemployment Total/Partial Disability or Death of Member’s immediately CALAMITY LOAN PROGRAM CALAMITY LOAN PROGRAM Interest Rate - 5.9 % per annum Loan Term - 2 years Loan Release - Check or ATM (DBP/LBP) Payment Scheme – Salary deduction/OTC HOUSING LOAN PROGRAM HOUSING LOAN PURPOSES Lot Purchase House Construction Lot Purchase & House Construction Purchase of a Residential Unit Major Home Improvement Refinancing of an Existing Loan The property must be: Titled Property (OCT,TCT,CCT) issued by Registry of Deeds Having a Road Right of Way Within the residential Zone Free from Liens/Encumbrances ELIGIBILITY REQUIREMENTS 24 Months Contributions Not more than 65 years old & insurable; not more than70 years old at loan maturity Has legal capacity to acquire and encumber real property ELIGIBILITY REQUIREMENTS Has passed satisfactory background / credit & employment / business checks of the developer & Pag-IBIG Fund Has no outstanding Pag-IBIG housing loan, either as a principal borrower or co-borrower; MAXIMUM LOAN AMOUNT OF P 6 MILLION Based on the lowest of the following: Borrower’s Actual Need Loan-to-Collateral Ratio Loan Entitlement Contributions Net Disposable Income The housing loan shall be repaid at a maximum term of thirty (30) years and shall in no case exceed the difference between the present age and age 70 of the principal borrower. GROUNDS FOR THE WITHDRAWAL OF YOUR Pag-IBIG Fund SAVINGS Membership Maturity (10,15 or 20 years) Retirement (Ages 60 & 65; Early Retirement: Age 45) Permanent Departure from the Philippines Permanent Total Disability/Insanity Termination from Service by reason of health Death of Member Other causes as may be provided by the Board of Trustees WITHDRAWAL OF SAVINGS The Member or his/her beneficiaries will receive the following: Total Accumulated Value (TAV) Personal Share + EmployerCounterpart + Dividend Earnings (Lump sum) Death Aid Benefit (DAB) P 6,000 Full Payment of the Housing Loan Account (In case of death of the Principal Borrower) COMPARISON MATURITY CLAIM 5. Termination from service due to health - Employer Certificate that said employee was separated for health reasons duly notarized. - Physicians Certification - SSS Disability Voucher 6. Death • • • With additional Death Aid Benefit (DAB) of P6,000 DAB entitlement in full if member is active (w/ contributions within 6 months) based on date of death If inactive, up to the Total Savings accumulated, but not more than P6,000 Death Aid Benefit Documentary Requirements 1. NSO Death Certificate of Member 2. NSO copy of Birth, Death & Marriage Certificates of claimants/beneficiaries 3. Proof of Surviving Legal Heirs (PSLH) 4. Affidavit of Guardianship (for minors) 5. Discrepancies are supported by Affidavit from two disinterested persons 6. Latest Service Record(Authenticated) 7. Latest Payslip (Authenticatedby Office) Additional Requirements •Married Member 1.Marriage Advisory of Deceased Member (NSO) 2.2 valid ID’s SSS ID, Voter’s ID,Company ID •Single 1. CENOMAR (NSO) 2. Funeral Receipt 3. 2 valid ID’s – SSS, Voter’s ID, Company 4. Birth Certificate of Member (NSO) 5. Joint Affidavit (2 witnesses) that the member died without children Requirements for Retirement(Government Employees) • Application for Provident Benefits (3 copies ) • GSIS Retirement Voucher (2 copies) • Retirement Order (PNP, PA, BFP, BJMP) (2 copies) • 2 Different Unexpired Valid ID’s with clear signature (photocopy back to back) 2 copies a. Primary ID : Employers ID b. Secondary ID: Pag-IBIG ID Card, GSIS ID or E-Card ID, Voters Affidavit, PRC ID, Driver’s License, Passport, Senior Citizen ID , SSS ID , BIR ID, Postal ID c. PNP/AFP/PA/ BJMP/ BFP for all military members (AFPSLAI not valid ID) • Updated Service Record stating specific date of retirement (gov’t employees ) 2 copies • Statement or Certification of last payment (2 copies) REMINDER: Please bring all original documents for comparison and authentication. In all instances wherein photocopies are submitted, photocopied documents must be duly authenticated by the claimants Administrative Officer Filing/Submission must be on or after retirement date. FOR MORE DETAILS: (08822) 726348/722800/721258 CDO (088) 8561861 to 62 local 209 or 211 CDO (088) 2214155 or (088) 8132701 Mlybly [email protected] [email protected] Visit us Pag-IBIG Fund Bldg., JR. Borja Mortola Sts., Cagayan de Oro City Pag-IBIG Fund Bukidnon Ext Office Tubeo Bldg., Damasco St., Malaybalay City www.pagibigfund.gov.ph Daghang Salamat!