Pag-IBIG doubles member contributions to P200/month

Alvin Elchico, ABS-CBN News

<p>MANILA — Pag-IBIG Fund has announced a 100-percent increase in member contributions starting in February 2024.</p><p>Pag-IBIG CEO Marilene Acosta said the new contribution will be P200, up from P100. Employers are mandated to match contributions, which means members will be saving P400 a month.</p><p>Acosta said the increase in contribution would eventually bring benefits to member workers since it would also increase the loanable amount for short-term loans, increase savings for when they retire and continue to lower interest for housing loans.</p><figure class="op-interactive"><iframe height="315" src="https://www.youtube.com/embed/h0_jzHxz4Kc?enablejsapi=1" width="560"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div><p>According to Acosta, Pag-IBIG Fund would raise around P38 billion per year in additional revenue with the increased contributions, which will let it keep interest for housing loans at 6 percent a year.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/01/12/24/philhealth-contribution-to-rise-to-5-pct-this-year">PhilHealth to push through with contribution hike this year</a></li></ul><div><strong>PHILHEALTH DEFENDS HIKE</strong></div><p>Meanwhile, state insurer Philippine Health Insurance Corp. (PhilHealth) spokesman Rey Balena said the increased contributions from its members would translate to better benefits.</p><p>He said benefits have already been increased for those suffering from colorectal cancer as well as ischemic and hemorrhagic strokes and high-risk pneumonia.</p><p>Soon, there will also be enhanced benefits for those suffering from dengue hemorrhagic fever, chemotheraphy, bronchial asthma and bacterial sepsis of newborns.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/01/04/23/philhealth-can-sustain-benefit-payouts-despite-hike-deferment-official">PhilHealth can sustain benefit payouts despite hike deferment: official</a></li></ul><p>But the Federation of Free Workers added its voice of dissent on the increase in Philhealth contribution.</p><p>The group appealed to President Ferdinand Marcos Jr to suspend the implementation of the higher Philhealth contribution.</p>

Pag-IBIG Fund said the increase will raise around P38 billion per year in additional revenue, which will let it keep interest for housing loans at 6 percent a year.

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Pag-IBIG doubles member contributions to P200/month

Pag-IBIG doubles member contributions to P200/month

Alvin Elchico,

ABS-CBN News

Published Jan 16, 2024 03:58 PM PHT

|

Updated Jan 17, 2024 05:53 PM PHT

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Pag-IBIG Fund

PhilHealth

Philippine Health Insurance Corp.

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