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 StreetMalaybalay City Bukidnon

Home Development Mutual Fund (HDMF)

Pagtutulungan sa kinabukasan

IkawBangko IndustriyaGobyerno

ACRONYM

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

CompensationPersonal

ShareEmployer

CounterpartP1,500 & Below

P1,500 to P5,000

1%

2%

2 %

2%

+

+

5,000.00 – maximum

compensation for

computing monthly

contribution

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 SAVINGSPROGRAM

SALIENT FEATURESDouble or triple your money benefit

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

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

PROVIDENT SAVINGS PROGRAM

MULTI-PURPOSE LOAN

PROGRAM

Savings Based (Total Accumulated Value)24 monthly contributions

(2 years in residency)

MULTI – PURPOSE LOAN PROGRAM

Active Member

Updated HousingLoan Account

MULTI – PURPOSE LOAN PROGRAM

Loan Amount REQUIRED NUMBER OF

CONTRIBUTIONSLOAN 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

Interest Rate - 10. 75 % per annum Loan Term - 2 years Loan Renewal - 6 monthsProcessing Time - 1 day or 2 daysLoan Release - Check or ATM (DBP/LBP) Payment Scheme – Salary deduction/OTCTAV Offset in case of the following:

- Unemployment- Total/Partial Disability or - Death of Member’s immediately

MULTI – PURPOSE LOAN PROGRAM

CALAMITY LOAN PROGRAM

Interest Rate - 5.9 % per annum Loan Term - 2 yearsLoan Release - Check or ATM (DBP/LBP) Payment Scheme – Salary deduction/OTC

CALAMITY LOAN PROGRAM

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 PhilippinesPermanent Total Disability/Insanity Termination from Service by reason of healthDeath 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 6,000Full Payment of the Housing Loan Account

(In case of death of the Principal Borrower)

COMPARISONMATURITY 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 Requirements1. 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 Member1.Marriage Advisory of Deceased Member (NSO)2.2 valid ID’s SSS ID, Voter’s ID,Company ID

• Single1. CENOMAR (NSO)2. Funeral Receipt3. 2 valid ID’s – SSS, Voter’s ID, Company4. 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

cagayandeoro@pagibigfund.gov.phbukidnon@pagibigfund.gov.ph

Visit us Pag-IBIG Fund Bldg., JR. Borja Mortola Sts., Cagayan de Oro CityPag-IBIG Fund Bukidnon Ext Office Tubeo Bldg., Damasco St., Malaybalay City

www.pagibigfund.gov.ph

Daghang Salamat!