Pag-IBIG Monthly Contribution Increase May Be Put On Hold

Update on Pag-IBIG Monthly Contribution Increase Planned for Years Already

PAG-IBIG MONTHLY CONTRIBUTION INCREASE – The decade-long planned increase on the monthly remittance of Pag-IBIG Fund members may be put on hold.

One of the biggest government agencies in the Philippines is Pag-IBIG Fund. A lot of Filipinos most especially those who are working in public and private companies are members of this state-run institution.

Members of Pag-IBIG Fund pay a contribution every month. Usually, it is directly deducted from the monthly salary and is remitted by the company or employer directly to the government institution.

Accumulated monthly savings or contribution may qualify the member to benefits and offers like loans. Pag-IBIG Fund has a lot to offer and it is mainly known for its housing loan.

The Pag-IBIG Fund contribution is at Php 200.00 every month. It has been on that rate for several years already – in fact decades already according to the government institution.

There is a long-planned Pag-IBIG monthly contribution increase. Meanwhile, due to the COVID-19 pandemic now, it may be put on hold according to Department of Human Settlements and Urban Development head Secretary Eduardo del Rosario.

Del Rosario also said that the government agency will again meet and discuss with the stakeholders to delay the increase on the monthly remittance which is supposedly set starting January 2021.

Amid the COVID-19 crisis in the Philippines, a lot of people lost their jobs after several companies closed. Many businesses were not able to cope with months of having no income and just incurring expenses.

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