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Pag-Ibig fund offers optional withdrawal
Members of Pag-Ibig Fund who have continuously remitted contributions
for ten years from 1995 to 2004 can now withdraw their contributions.
The Pag-Ibig Fund has offered optional withdrawal of contributions for
members with ten years straight contributions provided the members are
not delinquent in the payment of their loans. Membership and
contribution division chief of Pag-Ibig Fund Bacolod office said that
what can be withdrawn include the employee’s share, employer’s share,
and the dividends. Stressed that contributions prior to 1995 will
remain as member’s savings in the Pag-Ibig Fund until the maturation
period.
Pag-IBIG Fund Overseas Program
The Home Development Mutual Fund or
known in the Philippines as Pag-IBIG Fund, established in 1980 as a
nationwide savings and home financing system, is now the major housing
finance institution in the country with an asset level of over P62
billion and an active membership of 4 million.
When can I withdraw my total Pag-Ibig
savings?
Your accumulated savings under the
Program may be withdrawn at the end of 5, 10, 15 or 20 years depending
on the membership term you choose and shall be in Philippine Pesos,
U.S. Dollars or Canadian Dollars depending on which form of currency
the contributions were remitted. Hence, all dollar contributions shall
be refunded in dollars, and all peso contributions in pesos.
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