Expect higher Pag-IBIG contributions beginning February this year. Expect higher dividends too.
The Home Development Mutual Fund, also known as the Pag-IBIG Fund, has announced its intention to raise member contributions in February 2024.
In a telephone interview with Pag-IBIG Fund by Inquirer.net on Tuesday, January 16, it was revealed that monthly contributions from both employees and employers will see an increase to P200, up from the current minimum of P100.
“Magiging 200 po for employees, and 200 po for employers, up to a total of 400 per month,” Pag-IBIG told INQUIRER.net. [“It will be raised to P200 for employees and P200 for employers, amounting to a total of P400 per month.”]
According to Pag-IBIG, this adjustment is aimed at “sustaining the needs of its members” and will have a positive impact on the benefits received by the members.
“Kung bakit po nag-increase po, para po ma-sustain ‘yong pangangailangan ng Pag-IBIG members so ‘yon naman pong for regular contributions na pag-iincrease, makikinabang pa rin naman po ‘yong mga Pag-IBIG members.”
Meanwhile, many OFWs are still banking on the MP2 savings scheme by Pag-IBIG as one of the beneficial investments. Click this link to know the reasons why.
As a member who is away from the Philippines, it is good to know that you can pay your Pag-IBIG contributions online. Have you opened your MP2 savings with Pag-IBIG already?