Pag-IBIG Fund members save record-high P10.7B in MP2 Savings in Jan-May 2021, up 109%

UNTV News   •   June 23, 2021   •   1186

Pag-IBIG Fund members collectively saved P10.67 billion under the agency’s voluntary Modified Pag-IBIG 2 Savings program in the first five months of the year, setting another record-high despite the ongoing health crisis, top officials of the agency said on Monday (June 21).

“We are happy to report that despite the impact of the pandemic to our economy, the amount saved by our members in the MP2 Savings from January to May of this year has reached P10.67 billion. This amount is a record-high for any January to May period in our history and hence, speaks highly of the trust that our members have in Pag-IBIG Fund,” said Secretary Eduardo D. del Rosario of the Department of Human Settlements and Urban Development and Chairperson of the 11-member Pag-IBIG Fund Board of Trustees.

We would like to assure our members that we will continue to safeguard their savings and do our best to gain the best possible return for every hard-earned peso they save with us. This will also go a long way in helping us serve more members by providing funds for their cash loans and home loans, all in line with President Rodrigo Roa Duterte’s directive to help uplift the lives of more Filipinos especially during these difficult times,” he added.

The MP2 Savings is Pag-IBIG Fund’s voluntary savings program that has a 5-year maturity period and a minimum savings requirement of only P500. Made available to members in 2010, the MP2 Savings has seen phenomenal growth over the last 5 years due to the program’s consistently high dividends. In 2020, amid the pandemic-induced economic slowdown, the program still posted a 6.12% annual dividend rate.

Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti cited the MP2 Savings’ remarkable growth, noting that even in midst of the pandemic, more members continue to save in the program.

“It was only in 2017 when collections from our MP2 Savings surpassed the P1 billion-mark, which was then a historic feat. By the end of 2020, in a span of just three years, MP2 Savings reached a record-high P13.28 billion, surpassing the previous high of P12.01 billion saved by our members in 2019 – an 11% growth,” said Moti.

“This year, despite the ongoing health crisis, MP2 Savings continue to increase as collections in January to May are up by 109% compared to the same period last year. In fact, the amount of MP2 Savings collected in the first five months of 2021 is already equivalent to 80% of the P13.3 billion saved in MP2 for the entire year of 2020. We thank our members for their continued support and enduring trust that despite the challenging times, they opt to save voluntarily in our MP2 Savings Program,” he added.

Pag-IBIG Fund makes cash loans more affordable with longer payment period

Aileen Cerrudo   •   September 9, 2021

MANILA, Philippines — Pag-IBIG on Thursday (September 9) announced that it will lengthen its payment term to three years from the previous 24 months or two-year period.

Department of Human Settlements and Urban Development (DHSUD) Secretary Eduardo del Rosario said they provided a longer payment period to give borrowers more time to pay off their loans, and more importantly, to make monthly payments lower.

This is amid the difficulties faced by members during the coronavirus disease (COVID-19) pandemic.

“During these difficult times, we continue to improve our programs to respond to the needs of our members,” he said.

Pag-IBIG Fund’s cash loans come in the form of a Multi-Purpose Loan (MPL) and a Calamity Loan (CL) for areas under a state of calamity.

According to Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy Moti, with the extended payment period, members who will take a P20,000.00 loan amount can reduce their monthly payment to P734.57 a month for MPL, and P615.72 a month for a CL.

Previously, the payment for the said MPL and CL amount were P1,016.52 and P897.23 per month, respectively.

With payments spread out over a longer period, monthly payments were brought down by 28% for the MPL and 31% for the Calamity Loan.

“We recognize that these are challenging times, and we are doing all we can to help our members as the health emergency continues,” he said.

“We are poised to help more members in the coming months, now that the extended payment term has made our cash loans even more affordable,” Moti added.

From January to July alone, Moti reported that Pag-IBIG has released P25.42 billion in cash loans to aid more than 1.1 million members.

“We also made the process of applying for loans safer and more convenient by accepting loan applications online via the Virtual Pag-IBIG. This is Lingkod Pag-IBIG at work, especially when members need us most,” Moti further said. AAC

6.5 million housing units needed for informal settlers nationwide — DHSUD

Aileen Cerrudo   •   September 9, 2021

MANILA, Philippines — At least 6.5 million housing for informal settlers are needed nationwide, according to the Department of Human Settlements and Urban Development (DHSUD).

DHSUD Secretary Eduardo Del Rosario reported that the department already accomplished 1.07 million housing which is 89% out of the 1.2 million housing target for 2022.

Del Rosario said they are on track with the mission. However, he lamented that it is still far from the 6.5 million target units.

“Concerning the 6.5 million housing needed nationwide, medyo mababa ito (it is low) because that is only 20% of the total requirement,” he said.

Del Rosario said that from 2017 to 2021, the department’s budget is only ranging from about P4 billion to P5 billion, or only 10% of the recommended budget for their housing projects.

The official also added that the department needs P50 billion in order to address housing challenges in the country.

“Housing is capital intensive. Kailangan natin ng pondo (we need funds). We have been saying that we need P50 billion a year para makapagpagawa tayo and mai-transfer natin ang mga informal settler families to safer grounds (to build and transfer informal setter families to safer grounds),” he said.

Meanwhile, for the construction projects during the pandemic, Del Rosario reported that production decreased by 28% in 2020. However, he said the production this year has been improving. AAC

PAG-IBIG branches in NCR remain open under ECQ

Marje Pelayo   •   August 9, 2021

MANILA, Philippines – Offices of the PAG-IBIG Home Development Mutual Fund in the National Capital Region (NCR) will remain open but on a limited capacity even during the implementation of the enhanced community quarantine (ECQ) from August 6 to 20.

Also open is the agency’s NCR Housing Hub in Mandaluyong City.

“In compliance with Memorandum Circular 87 issued by Executive Secretary Medialdea, we shall continue providing service to our members in the safest way possible,” the agency said in its post.

PAG-IBIG branches in NCR will be open from 9:00 AM to 3:00 PM on weekdays to serve members with the following transactions:
Scheduled Releasing of Checks;
Acceptance of Payments; and
Issuance of Pag-IBIG Loyalty Card Plus (for MPL and Calamity Loan applicants only)

For Pag-IBIG Savings claims which include retirement claim for ages 60 to 64; early retirement claim; by beneficiaries due to member’s death; and MP2 Savings pre-termination, applicants may place their applications in drop boxes outside the PAG-IBIG branch premises.

Virtual Pag-IBIG service will always be open for membership registration; business registration; and claim of Pag-IBIG Savings.

To apply for Multi-Purpose Loans or Calamity Loans, applicants may use drop boxes or visit the Virtual Pag-IBIG.

Meanwhile, the NCR Housing Hub in Mandaluyong City is open from 9:00 AM to 3:00 PM on weekdays until August 20.

Payments may be done online via Virtual Pag-IBIG, or through the agency’s accredited collecting partners’ outlets and online payment channels.

For submission of documents, drop boxes are provided for:
Submission of Bid for Acquired Asset
Submission of Housing Loan Application and Notice of Approval or Notice of Disapproval compliance
Submission of Requirements of Winning Buyer of Acquired Asset

Transactions about release of checks, acceptance of post-dated checks, and reservation of acquired assets, the agency will call members concerned for appointments.

Public auctions, property appraisals, and borrower validation will all be done online.

For your safety and convenience, the public may transact with the agency via online through its 24/7 Contact Channels:
Dial 8PagIBIG or (02)87244244
Chat via www.pagibigfund.gov.ph
Email contactus@pagibigfund.gov.ph

For more information, visit the Virtual Pag-IBIG at www.pagibigfundservices.com/virtualpagibig.

REACH US

The Philippine Broadcast Hub

UNTV, 915 Barangay Philam,

EDSA, Quezon City M.M. 1104

(+632) 8396-8688 (Tel)

info@untv-newsandrescue.com (General inquiries)

ABOUT UNTV

UNTV is a major TV broadcast network with 24-hour programming. An Ultra High Frequency station with strong brand content that appeal to everyone, UNTV is one of the most trusted and successful Philippine networks that guarantees wholesome and quality viewing experience.