Summer Outing published @ the Mindanao Times … full page @ Lifestyle by Marilyn Roque

May 15, 2012


Pag-IBIG Fund to lend P50-B for 60,000 housing units in 2012

May 14, 2012

DAVAO CITY, March 16 (PNA) — The Pag-IBIG Fund is targetting 60,000 housing units with loan facility totaling P50 billion by yearend, this was disclosed by its Chief Executive Officer lawyer Darlene Marie Berberabe.

Berberabe made the announcement Thursday during the inauguration of the Fund’s Tagum Branch new office building.

She also led the signing of memorandum of agreements between market vendors association, operators and tricycle drivers associations of Mati City, Davao Oriental.

The MOA signing between the local government units of the cities of Tagum and Mati will facilitate implementing a scheme making registration and membership of Pag-IBIG Fund a pre-requisite for renewal of business permits.

The CEO reported that as of the first three months this year they were already able to lend P12 billion even as she explained that peak of housing projects will come towards the second of the year.

She admitted that with the stricter implementation of policies last year after the Globe Asiatique controversy, there were developers which stopped contracting with Pag-IBIG Fund.

But slowly they started coming back, after seeing a more defined and clear implementation of policies.

This year’s target she said is of 10 percent increase from last year’s target of 55,631 units valued at P38.3 billion.

Cumulative figure of the Fund’s housing program totalled to 841,661 housing units amounting to P313.4 billion.

Berberabe is hopeful about their program, given varied strategies through housing fairs and fora in coordination with the Subdivision and Housing Developers Association and Organization of Socialized Housing Developers Association of the Philippines.

“We will match their projects with the funding of Pag-IBIG Fund,” she said.

She said they are also supported by big developers like the DMCI, Megaworld, Filinvest, Rockwell and Ayala’s Avida.

There are still foreclosed properties she said where 60 percent of these units are occupied by the buyers themselves “and we are offering condonation of penalties until June 2012.”

She said they want these home borrowers to avail themselves of the offer and later become real home owners of the property they occupy.

Meanwhile, Berberabe said the Fund’s gross income amounted to P24.8 billion in 2011 which is 11 percent higher than in 2010 and the biggest in 31 years.

The net asset last year was pegged at P11.959 billion making the Fund’s total asset now of over P302 billion.

“But the growth of the Fund is not restricted to its finances. The past year was a year of changes, growth and action,” she said.

Berberabe said their efforts to provide quality service to our members have been recognized when Pag-IBIG Fund became ISO 9001-2008 Certified in 2011, the first among key shelter agencies in the country.

And we will continue to work hard and act on concerns that would benefit the members.

She said they are looking at 200,000 employers who did not register their employees even as she said that they already filed 167 cases against them (employers).

With the Fund’s program dubbed as “Be A Responsible Employer”, they are offering condonation of penalties for those who have not registered or those delinquent employers where condonation of penalties is pegged at P1.2 to P1.8 billion, she added. (PNA)

Pag-IBIG signs deal with Mati City’s tricycle drivers, market vendors

May 14, 2012

DAVAO CITY, March 16 (PNA) — Pag-IBIG Fund chief executive officer Atty Darlene Marie B. Berberabe led the signing of memorandum of agreement (MOA) with Mati City’s associations of tricycle drivers and fish vendors. The signing was held on Thursday in Tagum City which coincided with the inauguration of Pag-IBIG Fund Tagum Branch new office building.

However, Berberabe said they wanted to reach out also to all informal sectors as they wanted them to benefit from the Fund’s program on provident savings and home financing.

Republic Act 9679 requires for universal coverage including those informal groups even as Berberabe said those earning P1,000 up can become Pag-IBIG Fund members.

Berberabe was joined by the Fund’s Southern Mindanao Group vice president Jose W. Banzon, Jr. in singning the agreements and witnessed by Tagum Branch manager Cesar Labuguen. The affair was also graced by Davao Oriental Governor Corazon Malanyaon, the officers of Pag-IBIG Fund, housing developers and representatives of other government agencies and private offices.

Among those who entered into an agreement with Pag-IBIG Fund were the Mati Market Vendors Association led by its president Jerome A. Gupit, Mati Science College Tricycle Operators and Drivers’ Association (MASTODA) with its president Romel Matapid and Badas Tricycle Operators and Drivers Association headed by Santiago Alberto, Jr.

The City Governments of Mati (Davao Oriental) and Tagum (Davao del Norte) also signed separate memorandum of understanding with the Fund represented by Mati City Mayor Michelle Rabat and Tagum City Vice Mayor Allan Rellon for implementing a scheme where registration and membership with Pag-IBIG Fund is a pre-requisite for renewal of business permits.

Meanwhile, Rabat said they wanted their job order employees of about 900 workers who are street sweepers, canal cleaners, civil security unit staff, traffic aids become members.

“We wanted these job order workers be covered and able of the benefits of Pag-IBIG Fund,” she said.

Romel Matapid, president of MASTODA said for our members not to be burdened by one time payment of the P200 monthly contribution, they designed a scheme to pay it daily at P7.

He said they learned of the membership coverage through flyers and posters and they were interested on the savings benefit of the program kay ang kwarta nga among ihulog naa may interest ug dibidendo (the money that we save will earn interest and dividends).

Speaking of dividends, Berberabe said that Pag-IBIG Fund’s board of trustees chair Vice President Jejomar Binay declared some P8.491 billion worth of dividends, equivalent to 71 percent of the Fund’s net income for 2011 and to be divided among the 102 million members.

She said dividend rate was pegged at 4.13 percent, the highest so far.

Berberabe said they took pride in the fact that Pag-IBIG Fund continued to sustain its financial growth through the years, making it one of the strongest and most stable institutions in the country today. (PNA)
RMA/Prix Digna D. Banzon/ldp

BusinessWorld Online Edition: HDMF eyes more payment centers in South Mindanao

January 4, 2011

BusinessWorld Online Edition: HDMF eyes more payment centers in South Mindanao.

Pag-Ibig Fund posts P7.3-B collection in 2010 | Sun.Star Network Online

January 3, 2011

Pag-Ibig Fund posts P7.3-B collection in 2010 | Sun.Star Network Online.

The CEO is a woman

December 18, 2010

It’s a woman again for Pag-IBIG Fund and this time Atty. Darlene Marie B. Berberabe is the new Chief Executive Officer who hails from Batangas City vice Jaime A. Fabiana of Davao City. The first woman head was Zorayda Alonzo, the CEO who, during her time, checks on us if time warrants, while Joe was assigned in Cotabato to open the Branch Office there in the late 80s. Like a Mom, CEO Alonzo by then was concern of the family with Kim at 3 and I was preggy with Joe3 and Joe’s sick father (bed-ridden) left under my care at home. The transfer of work assignment was untimely “sana” with the family situation that time. But after about four years in the wartorn Cotabato the CEO surprised me on my birthday with his transfer to Davao City. The four long years were hard but the transfer was indeed a great relief. I will never forget Mrs. Alonzo in my life time and with a woman again i could only anticipate no less but the good and the best for the workers of Pag-BIG Fund and the members of the Fund … kasali ako dyan sa members. The men (leaders) were exceptionally good but there is something in women perhaps (because of the hand that rocks the cradle). I am not being biased, with this writer being a woman too.

I’ve heard of the new CEO from my hubby and his first meeting with her upclose was when he defended at the SM (senior management) a project for southern Mindanao. The meeting was good and the discussion was comprehensive, he said. The more that he was impressed during the corporate officers meeting where she stressed about strict adherence to government rules and policies and to stick to what is right. I am also impressed with this.

I’ve read about her in the papers and online and here are some interesting information (that were earlier reported) for a law professor appointed as PAGIBIG chief.

Atty. Darlene Berberabe is a professorial lecturer in the College of Law, UP Diliman.

She earned a Bachelor of Arts degree, summa cum laude and valedictorian from UP in 1989. She graduated salutatorian from the College of Law in 1999. She is an associate lawyer in Quisumbing Torres (Baker & Mckenzie) Law Office and was a professor in the Department of Philosophy, UP Diliman. In the College of Law, she is a professorial lecturer who teaches Legal Theory. Her MA thesis in 1995 was on the Divine Command Theory. She wrote “Retail Trade Liberalization” which was published in the Asia Pacific Legal Bulletin in 2000. She is described as a labor law specialist.

Prior to her appointment as Pag-IBIG chief, Berberabe was the head of the Corporate Legal Department of multinational company Procter & Gamble (P&G) Distributing (Phils.), Inc. She joined P&G in 2004. Before that she was a Labor Associate at the Quisumbing Torres (Baker & McKenzie International) Law Office from 2000 to 2004. An academician, Berberabe was also a Professor of Philosophy for 10 years at UP Diliman, the first female Philosophy Professor; and Professorial Lecturer of Labor Law, Legal Method and Legal Theory at the UP College of Law from 2002 to 2008.

The above data is so rich and tough but I think she’s one good person by heart. She even asked Joe about us and the children and when she was in Davao City, December 15 to lead the loyalty service awarding of employees from Southern Mindanao, Northern Mindanao and the Visayas Group she took time for foto opportunities not once but many times with the employees which she readily obliged herself.

I know there are more good things to come to HDMF (with credit of course to the former bosses), the office is my husband’s bread and butter even as we are equally proud to be part of that one big family now stronger at 30.

I am looking forward to my first interview with the woman who is the boss of my husband together with my Davao business reporters friends.

Photo courtesy of Eric Morales.

This may not be biz story … but i want to share this coz all of us have older persons in the family ….

September 21, 2010

Nonagenarian Duterte speaks about Alzheimer’s disease in Davao City

DAVAO CITY, Sept. 20 (PNA) – The 90-year-old Soledad Duterte will be one of the speakers in the 8th Annual convention of the Alzheimer’s Disease and Related Disorder here from Oct. 7 to 8 at the Marco Polo Hotel Davao.

Nanay Soleng, as fondly called by Dabawenyos, is the grandmother of Mayor Sara Duterte-Carpio, the mother of Vice Mayor Rodrigo Duterte.
The old Duterte will talk about “How Ready Are We with Nursing Homes in the Philippines”. Vice Mayor Duterte is the Keynote Speaker.
Dr. Eva Aranas-Angel, member of the board of Dementia Society of the Philippines (DSP), said the convention would center on the Holistic Dementia Care where topics would include, among others, The Molecular Basis of Learning and Memory, Medical and Environmental Conditions That Affect Memory, Cognitive Symptoms of Dementia, Activities of Daily Living in Dementia, Neurobehavioral Indicators of Dementia, Diagnosis of Dementia Syndrome, Pharmacologic Strategies in the Management of Dementia, Music Therapy, Aromatherapy, Reality Orientation, Interdisciplinary Approach to Dementia Care, The Community Awareness Program of the DSP, Dementia Care Pinoy Style, Dementia Policies in the Philippines.
The convention is also organized by the Allied Specialist Group in cooperation with the Philippine Neurological Association.
On the other hand, Angel said cases of alzheimer’s disease in the Philippines has become alarming to family members.

However, she said they did not have yet data as to number of cases, but she got at least two new cases a week in her clinic.

Their data show that about 70 percent of Filipinos 60 years old and above manage to live good quality of life while the remaining 30 percent of them are vulnerable to dementia.

“It is sad to note that many don’t get to see a doctor. And this can be prevented,” she said.
Angel is the only doctor in Davao City that practices Geriatric Medicine and gets patients from as far as Lanao and the different parts of Mindanao.
Angel also said the higher the age the more dementia cases would be, adding that among the 70 years old, about 30 percent of them suffered dementia; while for the 80 years old, around 40 percent and in the 90 years old bracket, about 50 percent of them have dementia.

Aside from the attitude of not seeing a doctor, the other problem would be economic because of the difficulty of convincing the family to see a doctor as most of them declined due to the high cost of treatment.

Seeking treatment could reduce the problem but sustaining the treatment in order to bring back quality of life was another thing, she said.

“There is no price tag for quality of life but we could put price tag to bringing back memory of the patient,” she said.
She advises people, who have the option to retire, not to proceed unless they have other similar activities outside of their usual routine while still working.
She said when out of work because of retirement, reading was not enough because what the person read had to be communicated to others for actual interaction.
She said one has to have continued intellectual stimulation and it was not enough by just watching TV or by reading.
The mind, she said, had to be active as what the Europeans popularized through the University of Life Long Learning.
There is one in the Philippines handled by St. Escolastica through the University of Life where their teachers are retired professors, career executive officers (CEOs) and other executives.
She said this kind of activity could help a lot because having an alzheimer patient in the family was painful.
“Many of the family members of my patients would say they pity their parents seeing them losing their memory,” she said. (PNA)
RMA/Prix Digna D. Banzon/lvp

High demand for environment friendly appliances noted in Davao

September 16, 2010

Buyers of appliances here now opt to purchase low power consuming units.Alex Bautista, store manager of SM Appliance Center, said there is now a market demand for environment-friendly appliances both for the brown and white lines units.Brown lines refer to audio/video units while the white lines are refrigerators, airconditioning units and ranges. Other items are referred to as small appliances. Bautista said there are a thousand codes but these three are the common and basic.

He also said the brown lines are the bread and butter of the appliance stores.

Meanwhile, he said they need to adjust to the market demand by providing consumers ample choices of energy saving appliances.

He explained that five years ago buyers looked at the cooling capacity as far as airconditioning units were concerned but now the buying choice is directed to how much energy is saved.

He said their latest is the 1 HP split type aircon where savings generated is 40 to 60 percent of the energy used.

“Although the cost is higher than the conventional type but we noticed that buyers do repeat purchases of the same kind,” he said.

Bautista also said that with the booming construction of real property here be it in hotels or condominium, the purchases of these type of units also contributed to the increase in high demand.

He said it has been the company’s mandate to promote environment-friendly appliances to their customers and this is being carried out in their 48 branches nationwide. (PNA)
LAP/Digna D. Banzon/lvp

August 7, 2010

source :


a. If Employed or Self-employed:

* Community Tax Certificate

* Proof of Billing (original)

* T.I.N. (Tax ID Number)

* Latest pay slip of borrower and spouse (original)

* 2 pcs HDMF Premium Contribution Certificate (original)

* Marriage Contract or Birth Certificate (Photocopy)

* W2 BIR form (photocopy)

* 2 pcs Notarized Certificate of Employment with Compensation (original)

* Post dated checks for down payment

* 24 month Pag-ibig contribution for members. For non-members, pay 24 months contribution upon reservation

b. If OCW:

* All of the above plus the following:

* 3 pcs Notarized Special Power of Attorney (SPA)

* Income Tax Return and W2 confirmation receipt for the last 2 years immediately preceding date of loan application

* Notarized Employment Contract and Employer’s Certificate of Income duly certified by employer.

Note: All original


a. If in the Philippines:

* Income Tax Return (latest)

* Certificate of employment with compensation

* Business Permit (if self-employed)

* Community Tax Certificate

* T.I.N. (Tax identification Number)

* Bank Statement (for the last 6 months)

* Marriage Certificate (if married) (Photocopoy)

* Proof of Billing

* Post Dated Checks

Note: All original except marriage certificate, Business Permit, Community Tax Certificate.

b. If Borrower is permanently abroad:

* Federal Income Tax Return (latest)

* Bank Statement (for the last 6 months)

* Special Power of Atty. (SPA) (consul authenticated)

* Certificate of Employment with compensation (consul authenticated)

* Proof of remittance

* Business Permit (if self employed)

* Marriage Certificate (if married)

* Post Dated Checks

Note: All original except marriage certificate


In-house financing requirements is similar to bank financing.

Thank you learn-finance …

July 26, 2010

learn-finance says:
July 24, 2010 at 3:32 pm  (Edit)

Hi this is amazing site! it is very well put together and the information that you have shown here is also top notch and a powerful read for me. Please keep creating such super material to learn finance. Thanks alot..This the best article I have never seen before….I like this post.

DTI Davao eyes development of Sasa Wharf as key tourism destination

July 22, 2010

The Department of Trade and Industry (DTI)-Davao is looking at developing the Sasa Wharf as key tourism destination in the region.Trade Undersecretary Merly Cruz said Sasa Wharf was one of the areas in the city where tourists and businessmen were taking banca rides in going to the Island Garden City of Samal in Davao del Norte; and Mati City in Davao Oriental.

Cruz said DTI also planned to put up a port of international standards in Samal as part of the tourism corridor being developed in the Davao Region.

“What we are looking at is the establishment of a gantry crane and a passenger terminal that will be at par with international standards,” she said.

A fast craft now traverses the route between Davao City and the town of Lupon, Davao Oriental, shortening the travel time between the two destinations to one hour from a previous three-hour travel time.

“This is in line with our bid to showcase Brunei, Indonesia, Malaysia and the Philippines-East ASEAN Growth Area (BIMP-EAGA) as a single window for tourism,” Cruz said.

She said negotiations with the management of Ekran Berhad wre in its final stage, where visitors from all over Asia were expected to converge in the region once the five-star casino resort re-opens its doors. (PNA)

Davao dailies continue to carry the Pag-IBIG story and Dee’s foto

July 20, 2010

The Mindanao Times gave the Pag-IBIG story a big space of more than half-page  July 19, 2010 issue (FOC)

while  EdgeDavao : The Business Paper … weekly issue July 19 to 25, 2010 carried the foto (also FOC)

News, advertisements, and entertainment –, Philippine News for Filipinos

July 18, 2010

VIEW THIS …..Column of Randy David PUBLIC LIVES re foto of Globe Asiatique President Delfin Lee @ Pag-IBIG. Please click the link below

News, advertisements, and entertainment –, Philippine News for Filipinos.

@Inquirer’s Opinion Page July 18, 2010 …Public Lives of Randy David

July 18, 2010

Davao daily carried this foto …..

July 18, 2010


VP Binay as the country’s housing czar

July 16, 2010

Malacanang spokesperson Edwin Lacierda said Thursday night that President Benigno Aquino III welcomed Vice President Jejomar Binay’s acceptance of the chairmanship of the Housing and Urban Development Coordinating Council (HUDCC).

Binay as  the new HUDCC chair will oversee operations of all of government’s shelter agencies.  As HUDCC chair he also sits as chair of the Board of  Pag-IBIG Fund.

Globe Asiatique President Delfin Lee apologized to Pag-IBIG

July 16, 2010

Pag-IBIG Fund chief cries foul over housing developer’s accusations

July 16, 2010

Pag-IBIG Fund chief executive officer Jaime Fabiaña yesterday slammed a housing developer for berating Fund officials for “losing the vision to serve,” saying Pag-IBIG “continues to be a strong and viable institution because of its hardworking and dedicated men and women.” Fabiaña was reacting to a report published in the Philippine Star that quoted Globe Asiatique Realty Holdings Corporation owner and president Delfin Lee as saying Pag-IBIG officials “have been there too long … they have become lazy and have lost the vision to serve.” “Pag-IBIG continues to be a strong and viable institution because of its hardworking and dedicated men and women whose focus to serve the Fund’s more than eight million members nationwide remains unwavering,” Fabiaña said. He cited statistics that showed housing loan approvals grew at an average of 42 percent for the last three years – P22 billion in 2007, P34 billion in 2008, and P46 billion in 2009. “Every day, 300 families are able to acquire homes through Pag-IBIG’s housing loan program. In times of calamity, Pag-IBIG provided an immediate lifeline to 800,000 calamity-stricken members through loans amounting to P14.7 billion. On a daily basis, the Fund releases P185 million in short-term loans which helped finance the emergency needs of 10,454 members,” he said. Fabiaña also belied Lee’s accusation that a memo providing that a member applying for a housing loan must have complied with the twelve-month residency requirement beginning July 1 of this year was unusually timed. “It was not unusually timed. To properly disseminate the new requirement, the Fund has undertaken intensive consultations with developer groups including the Subdivision and Housing Developers Association (SHDA) and the Organization of Socialized Housing Developers of the Philippines (OSHDP) as well as with the Fund Coordinators who serve as liaisons of Pag-IBIG with employer-companies,” he said. “We also made sure that the Fund included this policy in all its housing loan briefings both here and abroad. It was thoroughly discussed in a lot of meetings,” he added. Fabiaña said the amendment was duly approved by the Pag-IBIG Board headed by former Vice President and HUDCC chair Noli de Castro. “However, in a recent memo, the Senior Management of the Fund heeded the request of developers and members to defer its implementation and allowed the payment of 24 monthly contributions until September 30 of this year, provided housing loan applications are submitted not later than December 29, 2010,” Fabiaña said. According to Fabiaña, the 12-month residency requirement was established under HDMF Circular No. 55 to build up more funds for re-lending. “In March 2000, the residency requirement was two years. In 2001, Pag-IBIG lifted the two-year residency requirement allowing members to pay in lump sum, the 24 monthly membership contributions to avail of a housing loan because there were only a few borrowers then. At that time, total housing loan approval was only P3.5 billion,” he said. “Following the reduction in interest rates and lengthening of loan term to 30 years, Pag-IBIG has experienced immense growth in loan approvals recording an average growth rate of 42 percent for the last three years – P22 billion in 2007, P34 billion in 2008, and P46 billion in 2009. At this rate, it is no longer sustainable for Pag-IBIG to finance the growing demand for housing,” he added. Fabiaña also observed that instant membership has been prone to abuse, citing monitoring reports that indicated that abuses have been committed, particularly in the Pampanga area, “including Mr. Lee’s Xevera Projects, where almost 400 approved accounts were confirmed to be doubtful because the borrowers denied they availed of the housing loans.” Fabiaña said Lee himself “confirmed the existence of these problematic approved accounts.” “In a letter to Pag-IBIG, Lee wrote that ‘based on our internal monitoring, there are buyers who have not been paying since take-out (loan approval). We are closely monitoring some 1,000 accounts which we suspect are of questionable buyers. We have since cancelled 400 of these accounts…’,” Fabiaña said Fabiaña also took exception to Lee’s statement that HDMF officials are “lazy… they put the money in treasury bills and avoid innovative and challenging work that can fulfill the mission to provide low-cost housing to Filipinos”. He said according to the agency’s figures, Pag-IBIG has long surpassed its mandate to provide 70 percent of its funds for housing. “In 2009, 78 percent of the P256 billion total assets of the Fund are housing- related. For the first five months of the year, this has already reached 80 percent representing P204 billion out of the P271 billion total assets,” he said. Emma Linda Faria, Deputy Chief Executive Officer for the support services cluster, said Pag-IBIG “we cannot put all our funds in housing as we must be able to pay our members’ Provident claims on time. Plus we must always be liquid.” On Lee’s estimate that 70 percent of low-cost housing clients of real estate developers would be affected by the policy, Fabiaña said out of the 8 million members of Pag-IBIG, only around 800,000 members have housing loans. There are more than seven million remaining members who have made 24-monthly membership contributions who have not yet availed of a housing loan. “If sales agents are not lazy, they can easily tap this potential,” he said. Fabiaña said the Fund is what it is today – “one of the top government corporations and the leading financier of the government’s housing program” – because of the singular dedication and hard work of its 5000-strong work force of the Fund. “As a result, Pag-IBIG has been recognized locally and internationally for its contribution in housing. To cite a few: a Triple A minus (Aaa) rating from PhilRatings in 2005 for creditworthiness; UN-Habitat Scroll of Honour in 2006 for providing affordable home financing, making the Fund the first government agency to receive such commendation; Congressional Citation in 2008 for its exemplary contribution in the government’s battle against homelessness and poverty; and Civil Service Commission PASADA Awardee since 2007 for exhibiting the value of customer care and meeting the expectation of the transacting public for prompt, courteous, and responsive service,” he said. Fabiaña assured the Fund that he will continuously refine its housing program to ensure that the dream of homeownership can be easily attained by every Filipino worker. (with ref. Margie Jorillo at 811-4198)

“We had fun, fun, fun” @ Pearl Farm (Summer Outing 2010)

March 26, 2010


They had fun n the sun and the sand … while we rated their performance in a unique show of talents, guts, poise, pose and grace …. then they ate , played fun games, they swim, toured the place, talked, laughed, laughed and laughed.

Twas one event in March they will continue to recall with matching laughter … als…o because of Lady Gaga. I too didn’t miss that. i had my foto taken with the red hair lady. The winners of the hunk and the babe in bikini were also equally exciting so with the different group presentations.

Joe and I had fun and enjoyed the day with the Pag-IBIG Tagum branch, the group headed by Beth. Kudos to you all. Thank you guys … for the invites … twas indeed a fun day.

The kids were there too not only to enjoy but cheer to their Moms and Dads, Titos and Titas.

Everyone were in their summer get ups plus accessories of colored hats, bags, flip flops, different shapes and colors of shades, shorts and swimsuits.

Foreign visitors were there too to have fun.

well … it’s facebook time so i’m sharing to you some fotos I took in between my task as one of the judges along with Joe and a Daddy …all because of “The Heat Is On” Summer Outing on March 20, 2010.

March 25, 2010

Pag-IBIG Southern Mindanao conducts saturation drive for RA 9679

DAVAO CITY, Feb. 10 (PNA) – The Home Development Mutual Fund otherwise known as Pag-IBIG Fund is now conducting a massive saturation drive in order to reach out to all sectors that will be covered by Republic Act 9679 or the Home Development Mutual Fund (HDMF) Law of 2009.

Pag-IBIG Fund vice president for Southern Mindanao operations Jose W. Banzon, Jr. said they expect an additional 85,000 new members with the passage of the new law in their area of responsibility covering four branches namely the Davao that includes Davao City and Davao del Sur; Tagum branch including Tagum City, Island Garden City of Samal, Compostela Valley Province, Davao del Norte and Davao Oriental; General Santos branch comprising the cities of General Santos and Koronadal, South Cotabato Province and Sarangani; and the Cotabato branch covering the cities of Cotabato, Tacurong and Kidapawan and the provinces of Maguindanao, North Cotabato and Sultan Kudarat.

He said with their ongoing drive, many showed interests as their offices receive several queries daily from those sector formerly not covered and are now included in the coverage.

“We do door to door visits to establishments, offices and companies and send letters to homeowners associations and those self-employed entrepreneurs and other sectors if only to reach out to these people for them to be covered by the new law so they could avail of the services and benefits due them once they are covered by the HDMF law,” he said.

Meanwhile, Banzon said total membership for the Fund corporate wide in 2009 accounted to 7.5 million and target for 2010 is pegged at 9.5 million. The Southern Mindanao Group membership in 2009 totaled 484,302 or an increase of 3.2 percent in 2008 or 469,020 active members.

He said with their target of 85,000 for new members this year, their total Pag-IBIG members by end of 2010 would be about 569,302.

He said the new law has a universal or expanded members coverage where it becomes mandatory for all employees covered by the Social Security System (SSS) provided “that actual membership in the SSS shall not be a condition precedent to the mandatory coverage in the Fund and shall include but are not limited to private employees regardless of income, whether permanent, temporary or provisional and is not over 60 years old.

A household-helper earning at least P1,000 a month, a Filipino seafarer upon signing of the standard contract of employment between the seafarer and the manning agency. Self-employed person regardless of trade, business or occupation, with an income of at least P1,000 a month or not over 60 years old.”

Also covered are self-employed professionals such as doctors, lawyers, dentists, Certified Public Accountants (CPAs), architects, engineers, and others, business partners and single proprietors, actors, actresses, directors, scriptwriters, news reporters, professional athletes, coaches, trainers, jockeys, individual farmers and fishermen.

He said all employees under the Government Service Insurance System (GSIS) are also covered regardless of their status of appointment and income.

He said coverage for those Filipinos employed by foreign-based employers or the Overseas Filipino Workers (OFWs) is now mandatory.

Voluntary coverage, he said will only apply to barangay officials, non-working spouses of Pag-IBIG member, leaders and members of religious groups, Filipino government or international organization and self-paying individuals.

The contribution rate with monthly compensation of P1,500 and below for the employee is 1.0 percent and the employer at 2.0 percent. Those over P1,500 would have equal contribution of 2 percent for both the employee and the employer.

He said the maximum monthly compensation to be used in computing the employee and employer contributions shall not be more than P5,000.

Banzon said the employees’ Pag-IBIG contribution will earn dividends even as he said that in 2009 they paid five-percent dividends to the Fund members that go to their accumulated savings which they can withdraw among others upon maturity of 20 years, or retirement from the service. The savings thru the Fund is tax-free, meaning the members get 100 percent equivalent amount. (PNA)
LAP/Prix Digna D. Banzon/lvp


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