Handbook on Workers' Statutory Monetary Benefits (2024)

Pag-Ibig Benefits: Home Development Mutual Fund

The Home Development Mutual Fund (HDMF), also known as Pag-IBIG (Pagtutulungan sa Kinabukasan: Ikaw, Bangko, Industriya at Goberyno) Fund, is a Government-Owned and Controlled Corporation (GOCC) that provides the Filipino workers access to a secured savings and affordable home financing to improve the quality of their lives.

Pag-Ibig Benefits: Coverage

Pag-IBIG membership is mandatory for all employees covered by the Social Security System (SSS) and the Government Service Insurance System (GSIS); uniformed members of the Armed Forces of the Philippines, the Bureau of Fire Protection, the Bureau of Jail Management and Penology, and the Philippine National Police; and, Filipinos employed by foreign-based employers.

Pag-Ibig Benefits: Programs and Benefits

The Fund offers its members the following programs and benefits: 1. Provident Savings a. Pag-IBIG Regular Savings – The Pag-IBIG Regular Savings, or the monthly mandatory membership savings, is a savings facility that gives members high annual dividend earnings. Members who are formally employed contribute a minimum of ₱100.00 from their monthly income, while their employers also match their contributions with a share of ₱100.00. Self-employed members can contribute for as low as ₱100.00 per month. Members can withdraw their Pag-IBIG Savings and its dividend earnings upon retirement, or after 20 years, or equivalent to 240 monthly contributions. b. Modified Pag-IBIG 2 (MP2) Savings – A special voluntary savings facility that is open to all active Pag-IBIG Members who wish to save more and earn higher dividends, in addition to their Pag-IBIG Regular Savings. The MP2 Savings is an easy and flexible savings program with a five-year maturity period. Members can start saving for as low as ₱500.00 per remittance, making it more accessible. The dividends earned in the MP2 Savings are tax-free and can be withdrawn annually or after the five-year maturity period. 2. Short-Term Loans a. Pag-IBIG Multi-Purpose Loan – An affordable and easily accessible cash loan program offered by Pag-IBIG Fund. Qualified members can borrow up to 80% of their total Pag-IBIG Regular Savings, which includes their monthly contributions, employer's contributions, and accumulated dividends earned. The loan proceeds can be used to pay for tuition fees, medical expenses, minor home improvements, travel, or even as a capital for a small business. The loan is payable in 24 or 36 monthly installments at a low interest rate of 10.5% per year. b. Pag-IBIG Calamity Loan – The Pag-IBIG Calamity Loan aims to provide immediate financial assistance to Pag-IBIG members who have been affected by calamities and are residing in areas declared under a State of Calamity. Eligible members may borrow up to 80% of their total Pag- IBIG Savings, which consist of their monthly contributions, the counterpart employer’s contributions, and accumulated dividends earned. Pag-IBIG Calamity Loan is offered at a rate of 5.95% per annum, the lowest rate in the market and is payable over a period of up to three years, with a grace period of three months. 3. Home Financing a. Retail i. Pag-IBIG Housing Loan – Allows Pag-IBIG members to borrow up to P6 million at low interest rates with borrower-friendly terms, and a maximum repayment period of up to 30 years. ii. Pag-IBIG Affordable Housing Loan for Minimum-Wage Earners – Designed for minimum-wage and low-income members who earn up to ₱15,000.00 a month within the National Capital Region (NCR), and earn up to ₱12,000.00 per month outside the NCR. Under the loan program, Pag-IBIG Fund offers a subsidized rate of of 3% per annum for home loans up to ₱580,000.00 in socialized subdivision projects and special low rates for home loans of up to ₱750,000.00 for socialized condominium projects. iii. Pag-IBIG Home Equity Appreciation Loan (HEAL) – A low-interest loan available to all members with updated payments for their Pag-IBIG Housing Loan. With the Pag-IBIG HEAL, eligible members can borrow an amount based on the net value of their mortgaged property with Pag-IBIG Fund to help them fund their life goals – such as to renovate their homes, buy a car or purchase furniture and appliances. iv. Pag-IBIG Home Saver Programs – Provides options to Pag-IBIG Housing Loan borrowers who have missed payments to update their accounts and save their homes from foreclosure. b. Institutional i. Direct Developmental Loan [DDL] – Provides loan financing for property/real-estate developers/proponents to develop residential subdivisions or medium-rise residential buildings, and housing units eligible for mortgage financing under Pag-IBIG Housing Loan. ii. Direct Developmental Loan Program for the Pambansang Pabahay Para sa Pilipino Housing (4PH) Program [DDLP-4PH] – Encourages public-private partnership by providing access to affordable financing mechanism for property developers, Local Government Units (LGUs), contractors, and joint venture entities for the development of residential subdivision/condominium housing projects, and construction of housing units. Aims to support the national government and the Department of Human Settlements and Urban Development (DHSUD) to reduce the 6 million housing backlog of the country. iii. Rental Housing Construction Loan [RHCL] – A financing facility which may be used to fund the site development and construction of residential units meant for rental housing, which may include staff houses, dormitories, and other similar dwellings. This program is open to employers, whether private or from the government sector. 4. Other Programs and Benefits a. Pag-IBIG Loyalty Card Plus – The Pag-IBIG Loyalty Card Plus is a discounts and rewards card that allows members to enjoy exclusive offers from more than 380 Loyalty Card partner-establishments nationwide. Members can get discounts and reward points on their grocery purchases, furniture upgrades, tuition fees, hospital bills, fuel expenses, and many more. The Loyalty Card Plus can also be used as a Savings Account, and a means for members to receive their savings claims and loan proceeds more conveniently. b. Virtual Pag-IBIG for Members – An online platform that allows members to access Pag-IBIG services 24/7, anytime, anywhere. It also includes a 24/7 chat service where members can go to for their inquiries and concerns. c. Virtual Pag-IBIG for Developers – An online facility that aids partner- developers in evaluating borrowers’ eligibility. Through the Virtual Pag- IBIG for Developers, Pag-IBIG Fund is able to digitize and expedite housing loan applications. d. Virtual Pag-IBIG for Employers – The Virtual Pag-IBIG for Employers is an online facility that allows employers to enjoy Pag-IBIG Fund services for their businesses and employees safely and conveniently. e. Virtual Pag-IBIG Mobile App – The official mobile application of Pag- IBIG Fund that aims to bring its services closer to the members. With just a few taps on their smartphone and with the internet, members can conveniently access Pag-IBIG Fund’s services, such as keeping track of their savings and loan records, and online payments for their dues.

Pag-Ibig Benefits: Membership Contribution Contribution R

Fund Salary Employee Employer (if any) ₱1,500.00 and below 1.00% 2.00% Over ₱1,500.00 2.00% 2.00% “Fund Salary” shall refer to the basic salary and other allowances, where basic salary includes, but is not limited to, fees, salaries, wages, and similar items received in a month. It shall mean the remuneration or earnings, however designated, capable of being expressed in terms of money, whether fixed or ascertained on a time, task, or piece or commission basis, or other method of calculating the same, which is payable by an employer to an employee or by one person to another under a written or unwritten contract of employment for work done or to be done, or for services rendered or to be rendered. The maximum fund salary to be used in computing the employee and employer savings has been increased from ₱5,000.00 to ₱10,000.00 taking into consideration financial calculations and rates of benefits in accordance with Section 7 of Republic Act No. 8679. Employers shall remit two percent (2%) of the monthly Fund Salary of the contributing member as counterpart contribution. The employer is not entitled to deduct from the wages or remuneration of or, otherwise, to recover from the employee the employer’s contribution. In cases where employees have two or more employers, they shall contribute monthly to the Fund a percentage of their Fund Salary per employer, which shall be matched by the latter in accordance with the specified rates. For questions regarding the programs and benefits of the Fund, please contact the HOME DEVELOPMENT MUTUAL FUND Address: JELP Business Solution Center, 409 Shaw Boulevard, Brgy. Addition Hills, Mandaluyong City Call Center Hotline: (02) 8724-4244 Website: https://www.pagibigfund.gov.ph/ Facebook: www.facebook.com/PagIBIGFundOfficialPage E-mail address: contactus@pagibigfund.gov.ph See Pag-IBIG Fund Circular No. 460 issued on 15 January 2024. DIRECTORY OF DOLE REGIONAL OFFICES National Capital Region (NCR) Cordillera Administrative Region (CAR) DOLE-NCR Building, 967 Maligaya Street, DOLE-CAR New Building, Cabinet Hill, Malate, Manila 1004 Baguio City 2600 (02) 8400-6242 (074) 443-5339 ncr@dole.gov.ph car@dole.gov.ph http://ncr.dole.gov.ph/ https://car.dole.gov.ph/ Region I (Ilocos Region) Region II (Cagayan Valley) RSRK Bldg., Diversion Road, Brgy. Biday, DOLE-RO2 Bldg., Regional Government San Fernando, La Union 2500 Center, Carig Sur, Tuguegarao City, Cagayan 3500 (072) 607-9981 (078) 304-5085 ro1@dole.gov.ph ro2@dole.gov.ph http://ro1.dole.gov.ph/ http://ro2.dole.gov.ph/ Region III (Central Luzon) CALABARZON Diosdado Macapagal Regional 2/F - 4/F, Andenson Building II, Brgy. Government Center, Brgy. Maimpis, San Parian, Calamba, Laguna 4027 Fernando, Pampanga 2000 0968-850-0101; 0968-890-0202 (049) 545-7360; (049) 545-7362 ro3@dole.gov.ph ro4a@dole.gov.ph http://ro3.dole.gov.ph/ http://calabarzon.dole.gov.ph/ MIMAROPA Region Region V (Bicol Region) 2/F – 5/F CONFIL Building, Roxas Drive cor. Doña Aurora St., Old Albay, Legaspi City Sampaguita St., Brgy. Lumangbayan, 4500 Calapan City, Oriental Mindoro 5200 (043) 288-6078 0981-461-8788; 0912-330-4751 ro4b@dole.gov.ph ro5@dole.gov.ph http://mimaropa.dole.gov.ph/ http://ro5.dole.gov.ph/ Region VI (Western Visayas Region) Region VII (Central Visayas Region) Kuang Da Bldg., Dela Rama St., Brgy. 3/F & 4/F, DOLE VII Building, General Zamora-Melliza, Iloilo City 5000 Maxilom Avenue corner Gorordo Avenue, Cebu City 6000 (033) 320-8026; 0998-539-4757 (032) 266-2792; 0945-665-1871 ro6@dole.gov.ph ro7@dole.gov.ph http://ro6.dole.gov.ph/ http://ro7.dole.gov.ph/ Region VIII (Eastern Visayas Region) Region IX (ZamPen Region) DOLE Compound, Trece Martires St., Cortez Building, Evangelista Street, Sta. Tacloban City 6500 Catalina, Zamboanga City 7000 (053) 832-0433 (062) 991-2673; 0917-724-4334 ro8@dole.gov.ph ro9@dole.gov.ph http://ro8.dole.gov.ph/ https://ro9.dole.gov.ph/ Region X (Northern Mindanao Region) Region XI (Davao Region) Trinidad Building, Corrales-Yacapin Street, Quimpo Boulevard, Brgy. 74-A Matina Cagayan de Oro City 9000 Crossing, Davao City 8000 (088) 858-1658 (082) 227-4289 ro10@dole.gov.ph ro11@dole.gov.ph http://ro10.dole.gov.ph/ http://ro11.dole.gov.ph/ Region XII (SOCCSKSARGEN) Caraga Region 102 Acepal Building, Mabini Extension, Nimfa Tiu Bldg. III, JP Rosales Avenue, Koronadal City 9506 Butuan City 8600 (083) 826-1237; (083) 228-2190; (085) 817-2358; (085) 225-3229 (083) 520-0568 dole12.ro@gmail.com caraga@dole.gov.ph https://ro12.dole.gov.ph/ http://caraga.dole.gov.ph/ DIRECTORY OF DOLE-NCR FIELD OFFICES CAMANAVA Field Office MPFO Field Office (Caloocan, Malabon, Navotas, and (Makati and Pasay) Valenzuela) 3/F PPIA Building, 122 A. Del Mundo 2/F, ECC Building, Sen. Gil J. Puyat Street, between 10th and 11th Avenues, Avenue Extension, Makati City Grace Park, Caloocan City (02) 8282-1842, (02) 8283-5044 (02) 8772-8210, (02) 8800-7211 (02) 8367-3188 (02) 8336-5062 ncr_camanava@dole.gov.ph ncr_makatipasay@dole.gov.ph Manila Field Office MUNTAPARLAS Field Office (Muntinlupa, Taguig, Parañaque, Las Piñas) 4/F, DY International Building, 1650 3/F, Valenzuela Building, Alabang-Zapote General Malvar corner San Marcelino Road, Pamplona 3, Las Piñas City Streets, Malate, Manila 02) 8244-1532, (02) 8244-1318 (02) 8815-0086, (02) 8808-6165 (02) 5302-9269, (02) 5302-9270 (02) 8808-0422 ncr_manila@dole.gov.ph ncr_muntaparlas@dole.gov.ph PAPAMAMARISAN Field Office Quezon City Field Office (Pasig, Pateros, Mandaluyong, Marikina, San Juan) 4/F, Rudgen II Building, #17 Shaw 2/F Arcadia Building, 860 Quezon Avenue, Boulevard, Barangay San Antonio, Quezon City Pasig City (02) 8477-3630 (02) 8921-4973, (02) 8376-5983 ncr_papamamarisan@dole.gov.ph 0956-962-0982 ncr_quezoncity@dole.gov.ph For inquiries, please call the DOLE Hotline at 1349 or the DOLE Regional Office having jurisdiction over the workplace of the employee.