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Recognizing the urgent need to address the concerns of overseas Filipino workers who were repatriated from Lebanon, the Pag-IBIG Fund, one of the country’s leading provident financial institutions, will allow affected members registered under the Pag-IBIG Overseas Program (POP) to withdraw their savings even prior to membership maturity. This was announced recently by Vice President Noli “Kabayan” De Castro, chairman of the Fund’s Board of Trustees and concurrent Head of Task Force Lebanon.

Per records, there are 681 registered Fund members affected by the Lebanon crisis, whose total savings are projected at around P9.5 million.

The Pag-IBIG Overseas Program is a voluntary savings scheme open to all Filipino overseas contract workers, immigrants, permanent residents and seafarers. Through the POP, Pag-IBIG offers Filipinos abroad a convenient way of saving for their future and an opportunity to build their homes through an affordable loan program.

Under POP guidelines, members can withdraw their total savings only after 5, 10, 15 or 20 years of continuous membership, depending on the term opted for at registration. “The Fund, however, recognizes the financial hardship being faced by our repatriated members now that they are out of work. It thus, becomes imperative for the Pag-IBIG Fund to do its share in addressing the immediate needs of OFWs affected by the crisis in Lebanon. It is our social and moral obligation to help alleviate the lives of our countrymen in need,” VP De Castro said.