CEBU CITY, Cebu, February 1 (PIA) -- The PagIBIG Fund will implement a 100 percent increase on the monthly contribution of members starting February this year.

According to Pag-IBIG Fund, the increase is pursuant to Circular No. 460, which mandates the said adjustment on the savings rate.

The minimum Pag-IBIG monthly contribution that will be collected is now P400 from the previous P200 monthly contribution.

The P400 contribution covers the P200 employee share and the P200 counterpart from the employer.

For self-employed members who pay the voluntary contribution, the new amount will be P400 from the previous P200.

“Ang contributions mo vary depende sa member category and kining pag-taas sa contribution, mo resulta pud ni sa taas pud sa savings sa mga members (The contributions vary depending on the member category, and this increase in the contribution will result in more savings for the members),” said Pag-IBIG Fund Cebu Ayala Branch Member Services Officer IV Van Pepito during the recent Kapihan sa PIA program.

“Our members have the option to withdraw their contribution after 20 years, or equivalent to 240 monthly contributions,” said Pepito.

He added that PagIBIG Fund also grants dividends that are higher compared to other financial institutions.

PagIBIG Fund offers various loan programs, such as short-term loans, multi-purpose loans, calamity loans, and housing loans, where members can avail of up to 80 percent of their total contribution.

“Kay gisalig man sa mga members diri sa Pag-IBIG ang ilang contribution, ato gyud nang gipaningkamotan nga mapalambo og mapatubo gyud na (Since our members have trusted Pag-IBIG with their contributions, we try our best to make their money grow),” said Pag-IBIG Fund Cebu Ayala Branch Head Julio Carmel Alfarero Jr. in the same forum.

Pepito encouraged members who are employees to inform their employers who might not yet be aware of the increase in the monthly contributions.

“Sa katung mga members or employees nga adunay mga employers nga wala pa kahibalo kabahin sa increase sa contribution, pahibaw-a intawn ang inyung mga employers para ma deduct ang sakto nga contribution (Inform your employers in case they don’t know about the increase in the contribution so they can deduct the correct amount),” Pepito said.

Pag-IBIG Fund advised employees to reach out to contactus@pagibig.gov.ph should their employers fail to deduct the new monthly contribution.

Pag-IBIG Fund members are also encouraged to transact online and use the Virtual Pag-IBIG application for easier, more convenient, and more efficient transactions. (RGC/PIA7 Cebu)