Maintaining affordable rates

Pag-IBIG Fund remains steadfast in its commitment to providing affordable rates for its members. Despite the increase in contributions, Secretary Jose Rizalino Acuzar assures that this move is aimed at improving member benefits and meeting the growing demand for home loans while keeping rates within reach.

“By implementing the new Pag-IBIG Monthly Savings Rates of both members and employers originally scheduled in 2021, not only would we be able to improve the benefits of our members, we would also be better equipped to finance the growing demand for home loans of our members while maintaining our affordable rates,” said Acuzar, who heads the Department of Human Settlements and Urban Development (DHSUD) and the 11-member Pag-IBIG Fund Board of Trustees.

Increased savings and loanable amounts

Pag-IBIG Fund Chief Executive Officer Marilene Acosta highlights the profound impact of this adjustment on members' financial portfolios. Higher Pag-IBIG Savings mean increased annual dividends, adding an extra layer of financial growth. Additionally, members will enjoy elevated multi-purpose and calamity loan amounts, ensuring that your financial needs are met with flexibility and ease.

“Under our new rates, they will have higher Pag-IBIG Savings that earn annual dividends, which they shall receive upon membership maturity or retirement... Because of their higher savings, they shall also be entitled to higher multi-purpose and calamity loan amounts to help them with their financial needs,” Acosta said.

A long-overdue adjustment

The decision to increase the contribution rate comes after a significant period, with the last adjustment taking place in 1986. Recognizing the evolving financial landscape, Pag-IBIG Fund emphasizes that this change is not only necessary but long overdue.

Deferred implementation and compassionate considerations

Pag-IBIG Fund's decision to defer the planned increases in 2021, 2022, and 2023 showcases its sensitivity to the prevailing socio-economic challenges, particularly those exacerbated by the COVID-19 pandemic. This compassionate approach aligns with the call of President Ferdinand R. Marcos Jr. to alleviate the financial burden of fellow Filipinos during these challenging times.

In conclusion, the double delight of increased Pag-IBIG contributions heralds a new era of financial empowerment. As we embrace these changes, let us look forward to a future where our savings flourish, our loan opportunities expand, and our financial well-being takes center stage. This month of hearts marks not just an adjustment in numbers but a transformation that doubles the joy in our financial journey. Get ready to embrace the abundance that comes with doubling your Pag-IBIG! (JEG/PIA-NCR)