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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.

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slide1

Pag-IBIG Fund

Cagayan de Oro Branch

Pag-IBIG Fund Building

JR Borja-Mortola Sts.,

Cagayan de Oro City

slide2

Pag-IBIG Fund Bukidnon Extension Office

TubeoBldg., Damasco Street

Malaybalay City Bukidnon

slide4

ACRONYM

  • Pagtutulungansakinabukasan
  • Ikaw
  • Bangko
  • Industriya
  • Gobyerno
slide5

TWIN MANDATES

Savings

  • Shelter / Housing
pag ibig fund history
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
slide8

MANDATORY MEMBERSHIP COVERAGE

  • All Private and Government Employees (SSS & GSIS members), as mandated under Republic Act 9679
slide10

MONTHLY CONTRIBUTION RATES

1%

2%

2 %

2%

+

P1,500 & Below

P1,500 toP5,000

+

Personal

Share

Monthly

Compensation

  • Employer
  • Counterpart

5,000.00 – maximum

compensation for

computing monthly

contribution

slide11

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%)

slide12

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.
slide14

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
slide16

MULTI – PURPOSE LOAN PROGRAM

  • Savings Based (Total Accumulated Value)
  • 24 monthly contributions
  • (2 years in residency)
  • Active
  • Member
  • Updated HousingLoanAccount
slide18

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
slide20

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
slide22

HOUSING LOAN PURPOSES

  • Lot Purchase
  • House Construction
  • Lot Purchase & House Construction
  • Purchase of a Residential Unit
  • Major Home Improvement
  • Refinancing of an Existing Loan
slide23

COLLATERAL

  • 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
slide24

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
slide25

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;
slide26

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
slide31

LOAN TERM

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.

slide32

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
slide33

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)
slide34

COMPARISON

MATURITY CLAIM

slide38

5. Termination from service due to health

  • - Employer Certificate that said employee was separated for health reasons duly notarized.
  • Physicians Certification
  • - SSS Disability Voucher
slide39

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
slide40

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)

slide41

Additional Requirements

  • Married Member
  • 1.Marriage Advisory of Deceased Member (NSO)
  • 2.2 valid ID’s
  • SSS ID, Voter’s ID,Company ID
  • Single
  • CENOMAR (NSO)
  • Funeral Receipt
  • 2 valid ID’s – SSS, Voter’s ID, Company
  • Birth Certificate of Member (NSO)
  • Joint Affidavit (2 witnesses) that the member died without children
slide42

Requirements for Retirement(Government Employees)

  • Application for Provident Benefits (3 copies )
  • GSIS Retirement Voucher (2 copies)
  • Retirement Order (PNP, PA, BFP, BJMP) (2 copies)
slide43

2 Different Unexpired Valid ID’s with clear signature (photocopy back to back) 2 copies

  • Primary ID : Employers ID
  • 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
  • PNP/AFP/PA/ BJMP/ BFP for all military members (AFPSLAI not valid ID)
slide44

Updated Service Record stating specific date of retirement (gov’t employees ) 2 copies

  • Statement or Certification of last payment (2 copies)
slide45

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.

slide46

FOR MORE DETAILS:

(08822) 726348/722800/721258 CDO

(088) 8561861 to 62 local 209 or 211 CDO

(088) 2214155 or (088) 8132701 Mlybly

cagayandeoro@pagibigfund.gov.ph

bukidnon@pagibigfund.gov.ph

Pag-IBIG Fund Bldg., JR. Borja

Mortola Sts., Cagayan de Oro City

Pag-IBIG Fund Bukidnon Ext Office

Tubeo Bldg., Damasco St.,

Malaybalay City

Visit us

www.pagibigfund.gov.ph