Today’s Report – Housing Czar pushes for Pag-IBIG’s 70% investment in housing.

Vice President and concurrent Housing and Urban Development Coordinating Council (HUDCC) chairman Noli ‘Kabayan’ de Castro thanked the two Houses of Congress for pushing the amendments in the Charter of the Home Development Mutual Fund (HDMF) or Pag-IBIG Fund.

The Charter amendments seek to strengthen not only the Pag-IBIG Fund but the entire housing sector as well. He noted that the draft bills approved by the two Houses of Congress would restore the tax-exempt privilege of the Fund and authorize the board to set the contribution rates of members resulting in additional funds for the benefit of Pag-IBIG members.

However, De Castro objected to the deletion of the provision in the Pag-IBIG Fund’s existing Charter stating it should “invest not less than 70% of its investible fund to housing.” “Housing is one sector with a big multiplier effect on the economy.

Every P1 million invested in housing translates to P16.6 million of economic activity in the country. At this time of the global financial crisis, we need to put our funds on industries that would stimulate the economy and create more jobs for our people,” De Castro said.

He urged Congress to restore the said provision to realize the prospective law’s objectives of providing the Filipino citizens with sufficient shelter through the mobilization of funds for shelter finance.

De Castro’s call for the restoration of the above provision is consistent with his recent announcement that the Pag-IBIG Fund is putting in at least P82 billion as part of the stimulus package being worked out by the Arroyo Administration. Of this amount, 70% or about P57.4 billion would be invested in housing. (from the newsroom of Pag-IBIG Fund website)

how to become a member of Pag-IBIG Fund

ref: www.pagibigfund.gov.ph

 

MEMBERSHIP PROCEDURES AND REQUIREMENTS

I. FOR WORKERS WITH REGULAR EMPLOYMENT

Persuant to Republic Act 7742 which was fully implemented on January 1, 1995, membership to the Pag-IBIG Fund shall be mandatory for all employees covered by the Social Security System (SSS) and/or the Government Service Insurance System (GSIS) and who are earning at least P4,000.00 a month. This mandatory coverage is also extended to expatriates whose age is up to 60 years old and who are compulsorily covered by the SSS. In the absence of an explicit exemption from SSS coverage the said expatriate, upon assumption of office, shall be compulsorily covered by the Fund.

Membership for employees who are earning less than P4,000 a month, including those who belong to other working groups shall be on a voluntary basis.

Procedures on the Registration of Employers and it’s employees

1. Proceed to the Marketing and Enforcement Division of the concerned branch and request for a copy of the Membership Registration/Remittance Form (MRRF) [FPF060].

1. Accomplish and submit two (2) copies of the MRRF together with the following supporting documents to the Marketing and Enforcement Division:

Members Data Form (MDF) of the employees Certificate of SSS Coverage and Compliance (for the current year), if private employer GSIS Certificate of Membership, if government employer

For Sole Proprietorship DTI Registration Mayor’s Permit/ Business Permit For Partnership/Corporation SEC Registration Articles of Partnership/Incorporation and By-laws Notes: The original copy of the documents shall be presented for authentication. Upon submission of complete documents, the Marketing and Enforcement Division shall issue the Payment Order Form (POF).

1. Proceed to the Cash and Administrative Services Division and pay the 1st monthly membership contributions (MC).
2. Upon payment, present the Pag-IBIG Fund Receipt (PFR) to the Marketing and Enforcement Division.

Notes:

1. The succeeding remittances shall depend on the following schedule:

First Letter of Company Name	Remittance Schedule
A – D	10th to the 14th day of the month
E – L	15th to the 19th day of the month
M – Q	20th to the 24th day of the month
R – Z	25th to the end of the month

1. For the succeeding remittances, the MRRF may be submitted in diskette.

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Procedure of registration for first-time member-companies:

1. Accomplish two copies of the Membership Registration/Remittance Form (M1-1).
2. Prepare the following documents (2 photocopies):
   • SEC registration or the company’s DTI and SSS registration
   • R3 and R1A forms (SSS registration and remittance forms)
3. Present all documents (M1-1, registration and SSS forms) to the Marketing Division of the concerned Pag-IBIG branch office for verification (bring all originals for authentication). Secure referral slip from Marketing staff.
4. Proceed to the office’s Cash Division for payment of first monthly remittance.
5. Submit the “referral slip” prepared by the Marketing staff and all verified documents to the cashier.
6. Succeeding remittance date shall depend on the schedule of payment of the office (see below). Accomplished M1-1 shall serve as the remittance form for succeeding payments.
7. Submit to the Marketing office 2 copies of the accomplished Member’s Data Forms (MDF) of all qualified employees to the Marketing Division on the second month after the first payment of contributions.
8. The names of newly-hired employees that are covered by RA 7742 should be included in the accomplished M1-1 form and their corresponding contributions duly remitted to the Fund. The accomplished MDF of the new employees shall be submitted on the following month.

Schedule of Payments for Company-Members

First Letter of Company Name		Remittance Schedule
A-D		10th to the 14th day of the month
E-L		15th to the 19th day of the month
M-Q		20th to the 24th day of the month
R-Z		25th to the end of the month

–>II. INDIVIDUAL-PAYORS/VOLUNTARY MEMBERS

Employees who are not regularly employed and who belong to other working groups can join the Pag-IBIG Fund on a voluntary basis.

How to join Pag-IBIG:

1. Accomplished and submit two (2) copies of the MDF and all required supporting documents to the Marketing and Enforcement Division of the concerned Pag-IBIG branch office (bring all originals for authentication)
2. Secure Payment Order Form (POF) from Marketing and Enforcement Division and proceed to the Cash Division for payment of initial membership contributions (MC)
3. Present all verified/stamped documents to the Marketing and Enforcement Division.
4. Secure Payment Order Form before proceeding to Cash Division for payment of contribution

REQUIREMENTS FOR INDIVIDUAL PAYORS (IP)

SELF-PAYING (WAIVED COMPANY)

• Certificate of Employment & Compensation
• Latest Payslip
• Company ID

SELF-EMPLOYED

• Latest ITR

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• Latest Income Tax Return (ITR) with Financial Statement of the previous year certified by a CPA
• Certificate of Remittance/ESAV (for old members)
• Two 1×1 ID pictures
• SEC or DTI Registration (should be under the member’s name)
• Business Permit or Mayor’s Permit

–>

<!–OPERATORS OR FRANCHISE HOLDERS

• Franchise Permit (under the member’s name)
• Official Receipt or Car Registration (under member’s name)
• Latest ITR (previous year)
• Two 1×1 ID pictures

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• Certificate of Remittance or ESAV
• Two ID pictures

–>OVERSEAS FILIPINO WORKER (OFW) (For Reactivating Members only)

• Latest Contract of Employment
• Passport or any valid ID<!–
• Latest and valid Contract of Employment (with POEA original stamp)
• Certificate of Remittance or ESAV
• Passport or any Valid ID/POEA license
• Two 1×1 ID pictures
• Special Power of Attorney (SPA), in case a representative shall submit the documents and pay the member’s contributions

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<!–SELF-EMPLOYED PROFESSIONALS

• PRC/BAR License
• Latest ITR (previous year)
• Certificate of Remittance or ESAV (for old members)
• Two 1×1 ID pictures

–>UNEMPLOYED SPOUSE (For Non-Working Spouse)

• Written consent from member-working spouse
• Certificate of Employment and Compensation of member-working spouse
• Affidavit of Unemployment

For member-spouse with business:

• Latest ITR <!–
• Written consent from member-employed/working spouse
• Certificate of Employment and Compensation of member-working spouse (notarized)
• Affidavit of Unemployment
• Two 1×1 ID pictures
• If member-spouse has own business

• Latest ITR (previous year)
• Business Permit or Mayor’s Permit
• SEC or DTI Registration

Monthly contributions of unemployed members (reactivating or non-working spouse) shall be P100.00

The unemployed member has the option to upgrade his monthly contributions, but may not downgrade the amount

Unemployed members may avail of the Multi-Purpose Loan but not a housing loan from Pag-IBIG

Individual payors or voluntary members have the option to choose their terms of payment, e.g monthly, bi-monthly, quarterly, etc.

–>

UNEMPLOYED (For Reactivating Members only)

• Affidavit of Unemployment

Pag-IBIG extension office @ the mall …

   

Accessible and convenient, Pag-IBIG members of South Cotabato and Sultan Kudarat have better way of transacting business because services are brought to them while doing other transactions in the mall.

The only mall-basedin the south, Pag-IBIG Fund Southern Mindanao opened its newest extension office last January in Koronadal City.

The Pag-IBIG Fund Extension Office of Koronadal City is housed at Fitmart Mall in Marbel, Koronadal City and accepts among others payment of multi-purpose loans and housing loans.  It will also conduct housing loan seminar.  Schedule of the seminar is still being worked out.

The extension office is under the care of Manager Rodrigo Suemith.

Leading the inauguration ceremony were Governor Daisy Avance-Fuentes, Deputy Chief Executive Officer for Operations Tess Gonzales,  Vice President for Southern Mindanao Group Jose W. Banzon, Jr. together with other officers and staff of Pag-IBIG Fund other officials of private and government offices while Fr. Bonifacio Ampayas officiated the blessing of the new office.

We are sharing you some pictures provided by Pag-IBIG Fund General Santos City …. thanks ayengonzales and company