The Board of Trustees of the Home Development Mutual Fund, better known as the Pag-IBIG Fund, has officially approved the postponement of the agency’s contribution hike in 2023—deferring the scheduled increase in the monthly premium for the third time.
The Board of Trustees of the Home Development Mutual Fund, better known as the Pag-IBIG Fund, has officially approved the postponement of the agency’s contribution hike in 2023—deferring the scheduled increase in the monthly premium for the third time.
In 2019, Pag-IBIG Fund obtained the concurrence of stakeholders to implement a planned contribution increase in 2021, from P100 to P150 for members. “We recognize that many of our members and employers are still in the midst of recovering from financial challenges arising from the effects of the pandemic on the economy,” Acuzar said.
For her part, Pag-IBIG Fund chief executive officer Marilene Acosta said the agency’s robust fiscal standing and strong collections driven by members opting to save more under the agency’s regular and MP2 Savings programs should allow it to address the growing loan demand of members even without a contribution rate increase this year.
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