QUEZON CITY (PIA) -- The Home Development Mutual Fund (HDMF) also known as the Pag-IBIG Fund revealed the highly-anticipated Pag-IBIG Savings Dividend rates for 2022 during its Chairman's Report on March 28.
President Ferdinand R. Marcos, Jr., together with DHSUD Secretary Jose Rizalino L. Acuzar and Pag-IBIG CEO Marilene C. Acosta, unveiled the dividend rate of 6.53% per annum for regular savings while 7:03% per annum for Modified Pag-IBIG 2 Savings (MP2) Savings. Both rates are the highest dividend rates since the pandemic.
Pag-IBIG Fund posted its best-performing year in 2022 as the agency’s net income reached a record high of P44.50 billion, a 28% increase from P34.69 billion in 2021.
The agency also reported P117.85 billion released for home loans; total membership savings collected amounting to P79.90 billion and loan payments amounting to P127.42 billion.
The national savings program also assisted the highest number of members with 105,212 securing new homes from Pag-IBIG’s housing loan programs and over 2.61 million aided through its short-term loans.
The agency ended the year with total assets at their highest, amounting to P827.40 billion.
Secretary Jose Rizalino Acuzar of the Department of Human Settlements and Urban Development (DHSUD), who also heads the 11-member Pag-IBIG Fund Board of Trustees, explained that the dividend rates are the result of the agency’s record-high net income coupled with the highest dividend payout ratio approved by the Pag-IBIG Board.
Acuzar said that while the agency is required to give back to members only at least 70 percent of its annual net income as dividends, the Pag-IBIG Board approved a 97 percent payout ratio, resulting in a dividend amount to P42.70 billion - the highest in the agency’s history.
“We at Pag-IBIG do all that we can to keep the returns on our members’ savings high while ensuring the Fund’s sustainability and stability. With Pag-IBIG Fund capably led by its CEO 'Manang' Malen Acosta having its best performing year in 2022, we were able to declare the highest amount of dividends for our members’ savings in our 42-year history,” the DHSUD chief pointed out.
President Ferdinand R. Marcos Jr. lauded Pag-IBIG Fund for this performance and for achieving the highest dividend rates since the Covid-19 pandemic.
“It makes me proud that your agency’s stewardship of our national savings program has successfully provided affordable shelter financing for our people. Let me thank all of you, the members who are the owners of Pag-IBIG Fund, including concerned housing developers, partners, and other key stakeholders who have been instrumental in fulfilling the Pag-IBIG Fund’s mandate, of serving the Filipino workforce,” the President said.
He also expects that this performance will be sustained for the benefit of the Filipino people.
“As the Pag-IBIG Fund was established under the presidency of my father, I look forward to your efforts in continuing his legacy of quality public service into the future. I urge you to sustain transparency and accountability in all the work that you do. Thus, we are able to maintain the public's renewed trust in the government. Let us ensure that the Pag-IBIG Fund remains at the forefront of fulfilling our people’s aspirations,” the chief executive pointed out.
Secretary Acuzar then assures that “Pag-IBIG Fund shall be a reliable partner as Filipinos pursue a better and more secure future.” (KSAA – PIA CPSD with information from PCO and PAGIBIG Fund)
