“Our board approved the collection of higher contribution come January 2024,” chief executive Marilene Acosta said during the Kapihan with Pag-IBIG at Victorino’s Restaurant in Quezon City.
“Now, the contribution rate should be 2 percent. So 2 percent times P10,000, that is P200. The employee is now required to save P200, assuming that the salary is P10,000. If it is P7,500, that would only be P150. That should be matched by the employer with the same [contribution],” she said.Acosta said the higher contribution rate would allow Pag-IBIG Fund to lend more for the national housing program which aims to build six million housing units across the country.
Pag-IBIG Fund released a record P57.07 billion in home loans in the first half of 2023, an increase of P5.11 billion or 10 percent from P51.96 billion in the same period in 2022.
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