Pag-IBIG Fund may defer the increase of its members’ monthly contributions.
Citing the effects of the pandemic to workers and employers, Pag-IBIG chief executive officer
Acmad Rizaldy Moti said the strong performance of the Fund’s voluntary savings program (Modified Pag-IBIG 2 (MP2) will enable it to delay anew the increase originally set for January 2021 but was moved to next year as a relief to members and their workers.
November 2010, Pag-IBIG deferred the hike in the monthly contributions of its members — from P100 to P150 in 2021, and moved the implementation by one year to January 2022. The deferment also applied to the share of their employers.
“We can push it back for a few months or maybe another 12 months,” Moti said at a forum last week hosted by the Organization of Socialized Housing Developers of the Philippines.
In 2019, agency officials approved the increase of its members’ monthly contributions, which had remained unchanged since the 1980s.
The Fund’s financial position remains strong which Moti attributed to the record MP2 numbers that reached P13.23 billion as of the first half of 2021, almost equal that of the entire 2020.
Moti said Pag-IBIG projects MP2 to reach P24 billion to P26 billion this year. Irma Isip