Year 2016 Press/Photo Release

“One of the biggest reasons for the increased net satisfaction in the area is the opening of more branches in Regions 6 to 8, or Western, Central, and Eastern Visayas, respectively. From five branches in 2010, we now have 19 branches and three service offices all over the Visayas,” said Ms. Victoria dela Pena, Vice President for Member Services Operations in the Visayas and Mindanao.

She also attributed members’ awareness to the increased visibility of various Pag-IBIG teams who are aggressive in marketing the Fund’s Loyalty Card program.

Among the respondents, 84% answered that they are aware of Pag-IBIG Fund and its programs. This is a 5-point increase from the previous 79% awareness score.

“Constant exposure of our membership and housing programs on TV and social media also contributed to the high net satisfaction,” Ms. Dela Pena added.

Availment of services also increased, up by 8% to 24% in September 2016 from 16% in December 2015.

The biggest jump in services was noted for membership and employer registration, showing a 29% increase from 36% in December 2015 to 65% in September 2016. This was followed by verification of membership or loan records at 24%, up by 9% from 13% in December 2015.

Starting last year, Pag-IBIG initiated to engage a third party survey to track how members are impacted by its programs. Pag-IBIG continues to implement reforms and enhance its programs, and makes sure that these improvements are felt by its 16.9 million members worldwide.

Pag-IBIG branches increased nationwide from 38 in 2010 to 117 to date.(end)

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Pag-IBIG Fund recently inaugurated its new Batangas office located at the 2nd floor ATDRMAM Building, Kumintang Ibaba. It transferred from its old office in Bo. Calicanto.

The branch covers the eight municipalities in the 1st district, seven municipalities in the 2nd district, four municipalities in the 3rd district, and three municipalities in the 4th district of the said province. It serves more than 2,300 employers and 87,000 employees.

“In 2010, Pag-IBIG only had 38 branches nationwide. Today, we have 117, making our services and programs more accessible to members in the country,” Pag-IBIG Fund President and CEO Atty. Darlene Marie B. Berberabe said.

She also shared about the Fund’s accomplishments for the past six years. “We have increased our membership base instead of hiking our monthly contribution of PhP 100,” Atty. Berberabe emphasized. The Pag-IBIG head also said that the lowered interest rates on the Housing and Calamity Loan programs have helped the lives of many members.

Services offered by Pag-IBIG Batangas Branch include issuance of membership identification (MID) number, online membership registration assistance, provident benefit claims, and receiving of monthly membership contributions and members’ savings under the Modified Pag-IBIG 2 Program. Members can request their records & loan details transfered here. Members who have availed of the multi-purpose loan and calamity loan can claim their proceeds through Pag-IBIG Citi Prepaid Card or LANDBANK Cash Card. Members can also enroll here for the Pag-IBIG Loyalty Card where they can avail of the privileges from partner-establishments nationwide.

Batangas City Mayor Beverly Rose A. Dimacuha, represented by City Administrator

Atty. Narciso Macarandang, congratulated Pag-IBIG for the inauguration of its new office in the city. “The City Government of Batangas has a strong faith in Pag-IBIG, as it is also one of the most reliable institutions today. Both government and private sectors can trust Pag-IBIG for their financial and housing needs. The Pag-IBIG management steadfastly protects and accommodates the needs of our constituents. Again, we would like to extend our warmest congratulations,” Atty. Macarandang said. Atty. Berberabe also mentioned that the Batangas Branch features the “new office look.”

“Our branches are the first point of contact of our members. Apart from improving our services, we are also changing the way we deal with our members and valued clients. Comfortable yet faster transactions attribute to better and more convenient Pag-IBIG services,” she said

The branch is near the Batangas Capitol site and right beside the Mabuhay Auto Car Shop. It is headed by Thelma Acosta, with the help of 22 employees.

Currently, Pag-IBIG has eight branches in Southern Tagalog serving 771,542 members in the area. (JRS/Faye)

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“Winning the Most Outstanding Accounting Office Award for two years in a row is an invaluable feat for us in Pag-IBIG. We thank AGAP and the auditors in COA for recognizing our efforts in complying with the highest standard of quality and transparency in reporting our financial performance,” said Pag-IBIG President and CEO Atty. Darlene Marie B. Berberabe.

The Most Outstanding Accounting Offices are chosen yearly by AGAP based on the recommendations from the Commission on Audit (COA). State auditors evaluate nominees based on the timeliness of submission of financial reports and the accuracy in reporting the financial statements.

“Gaining this back-to-back recognition from government auditors and accountants from peer agencies is truly an honor for us. We were told that the list of awardees this year was shorter compared to last year’s. We are grateful that we made the list again. As administrators of the Filipino workers’ fund, nothing is more important to us than the trust of every Pag-IBIG member in the way we manage their fund. Our second Most Outstanding Accounting Office Award is another recognition that we go to great lengths to safeguard our members’ savings,” said Atty. Berberabe.(end)

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"Reduced interest rates will result in lower monthly amortizations, and that means more affordable housing loans to Pag-IBIG members," Moti said.

"From as high as 11.5% before Pag-IBIG converted to full risk-based pricing, the interest rates now is as low as 5.5% per annum for a one-year repricing period," he added.

The new rates under the risk-based pricing carry an interest of 5.500% for a 1-year fixed-pricing period, 6.500% for a 3-year fixed-pricing period, 7.270% for 5 years, 8.035% for 10 years, 8.585% for 15 years, 8.800% for 20 years, 9.050% for 25 years, and 10% under a 30-year fixed-pricing period.

Since the Fund shifted to full risk-based pricing in the middle of 2012, it lowered its rate for five consecutive times according to Moti.

Moti explained that the new rates, except for the 5.5%, is open to existing borrowers whose housing loan accounts carry interest rates more than the prevailing market rates. Only housing loan borrowers whose application was approved starting July 1, 2016 onwards may avail of the 5.5% rate.

"A borrower who availed of a PhP 1 Million loan prior to adoption of the full risk-based pricing was charged an interest rate of 8.5% per annum, with a monthly amortization of PhP 7,689. But by shifting to the lowest allowed interest rate of 6.5% under a 3-year repricing period, the monthly amortization would go down to PhP 6,320, or a monthly savings of PhP 1,369. And for the same loan amount, a new borrower who got his housing loan approved after July 1, 2016 at an interest rate of 5.5% would only have a monthly amortization of PhP 5,677, or a savings of about PhP 2,000 per month," explained Moti.

The Fund’s risk-based pricing framework covers all costs, risks, and a reasonable spread, making the pricing more competitive with other institutional lenders. This framework is the platform of all reforms for financial sustainability of the Fund, demonstrating an innovative use of analytical techniques and showcasing results of collaboration within the Fund towards all reforms and improvements in its loan programs.

But for Pag-IBIG housing loan borrowers, Moti emphasized, this only means more affordable monthly amortization and additional savings. (end)

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Services offered include issuance of membership identification (MID) number, online membership registration assistance, provident benefit claims, and receiving of monthly membership contributions and members’ savings under the Modified Pag-IBIG 2 Program. The transfer of member’s records & loan details can also be accomplished here. Members who have availed of the multi-purpose loan and calamity loan can claim their proceeds through Pag-IBIG Citi Prepaid Card or LANDBANK Cash Card.

“We are bringing Pag-IBIG services closer to more members in Metro Manila. Before, our clients from Marikina would go to our Cubao Branch just to transact or avail of our programs. Now that we have opened the doors of our Marikina Branch, they won’t have to commute far and brave the traffic just to utilize the benefits. We serve an average of 250 clients daily in our new branch,” said Pag-IBIG Fund Deputy Chief Executive Officer Ophelia L. dela Cerna.

According to Ms. dela Cerna, members can also apply for the Pag-IBIG Loyalty Card at this branch. “Through the Loyalty Card, members can enjoy privileges and discounts from our partner-establishments nationwide such as schools, hospitals, restaurants, and merchants, among others,” she added.

To date, there are 24 Pag-IBIG branches in the NCR serving 6.7 million members in the area. From 38 branches in 2010, Pag-IBIG now has 114 branches nationwide to serve almost 17 million members. The newer branches feature the “one look” that Pag-IBIG has been implementing to provide convenience and better experience to our members when they transact with government. (end)

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In a statement, Ms. Marilene C. Acosta, Pag-IBIG Fund Senior Vice President for Home Lending Operations Sector, said that the collection agencies collected P11.26 Billion while the tele-collection firm collected another P5.23 Billion, both from housing loan accounts.

"From January to August this year alone, we have already collected housing loan payments worth P5.11 Billion because of these partnerships, or P2.21 Billion from collection agencies and P2.90 from our tele-collection service partner," Ms. Acosta said.

Pag-IBIG records showed that the collection agencies started its services for the Fund in 2013 while it was just in 2015 that the tele-collection outsourcing began.

Pag-IBIG reaped several benefits from the partnerships according to Ms. Acosta.

"On top of the additional collections, Pag-IBIG also saved on administrative cost, including salaries and logistics, by about P50 Million a year. We also put at P1.57 Billion yearly our savings on loan loss provisioning," said Ms. Acosta.

"These partnerships also contributed to the increase of the Fund's performing loans ratio, which now stands at 91%, net of impairment allowance. This means that out of 10 housing loan borrowers, 9 are paying," explained Mr. Benjamin R. Felix, Jr., Pag-IBIG Vice President for Loans Remediation Group. He added that Pag-IBIG tapped the expertise of these collection firms to help them collect from housing loans accounts that are already past due.

Mr. Felix also emphasized that the objective of the partnerships is not merely for the benefit of the Fund but to help delinquent Pag-IBIG members as well.

"Since we tapped the services of the collection agencies, we have helped 210,650 housing loan borrowers save their properties by offering them settlement options acceptable both to the Fund and the borrower," Mr. Felix said. (end)

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Pag-IBIG Fund recently opened the doors of its San Francisco branch located at the Ground Floor, Gaisano Capital, Barangay 4, National Highway. Pag-IBIG Fund’s Deputy CEO (DCEO) Ophelia L. dela Cerna, Vice President Victoria dela Pena, Area Head Ferdinand Saniel, and Branch Head Noly Quimbo, together with San Francisco Mayor Jenny D. de Asis and Sangguniang Panlalawigan Member District II Agusani A. Ananoria, led the opening of the new branch.

It serves 47,715 members and covers the cities of Bislig, Bayugan, and Tandag, 25 municipalities, and the provinces of Agusan del Sur and Surigao del Sur. Previously, members and employers had to go to Butuan Branch in Agusan del Norte.
“We opened the San Francisco branch to make our services and programs closer to more than 47,000 members here in Agusan del Sur,” DCEO dela Cerna said.

Mayor de Asis shared that Pag-IBIG Fund has been partners with the San Francisco local government unit. “I am also a Pag-IBIG housing loan borrower,” she said. The mayor also commended the branch employees for being committed in their service to members. “They are very accommodating and pleasant to transact with,” Mayor de Asis emphasized.

Services offered that members can avail at the Pag-IBIG San Francisco Branch include issuance of member’s identification (MID) number, online membership registration assistance, provident benefit claims, and receiving of membership contributions and members’ savings under the Modified Pag-IBIG 2 Program. The transfer of member’s records & loan details can also be accomplished here.

Members who want to apply for the Pag-IBIG Loyalty Card can apply at the branch. Through the Loyalty Card, members can enjoy privileges and discounts from partner-establishments, schools, hospitals, restaurants, and merchants.

Members who have availed of the multi-purpose loan and calamity loan can claim their proceeds through Pag-IBIG Citi Prepaid Card or Land Bank Cash Card.

Partner-banks and their respective online facilities include Land Bank (wePay Access), Union Bank (Pag-IBIG Hub), Bank of the Philippine Islands (ExpressLink), and Security Bank (Pag-IBIG RealTime). They can also utilize BancNet’s E-Gov Facility which is participated by the following banks: Metro Bank, RCBC, China Bank, Citibank, Asia United Bank, DBP, CTBC Bank, East West Bank, PNB, Standard Chartered Bank, PBCom, Phil Trust Bank, Bank of Tokyo, and Bank of Commerce.

Members can inquire about their accumulated savings and details on their membership and loan via the Pag-IBIG 24/7 Hotline at 02-724-4244.

To date, there are 114 branches across the country. “Five years ago, we only had 38 branches. With our expansion, we bring Pag-IBIG benefits and services closer to members,” DCEO dela Cerna said in closing. (end)

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“TUV SUD, one of the world’s leading technical service organizations, informed us that our 17 branches in the NCR remain to be ISO-compliant. These are: Antipolo in Rizal; Ayala, Buendia I, Buendia II, and Guadalupe in Makati; Binondo and Manila in Manila; Caloocan; Commonwealth, Cubao, Kamias, and Quezon Avenue in Quezon City; Imus in Cavite; Muntinlupa; Ortigas in Pasig; Pasay; and SM Aura in Taguig,” said Vice President for Management Services Group and Head of the ISO Compliance Team, Voltaire M. dela Rosa.

Last December 2014, TUV SUD granted Pag-IBIG Fund an ISO 9001:2008 certification for the second time. The certification falls under the Advocacy and Capability Building Component of the Government Quality Management Program. This component is expected to promote awareness, generate support, harness resources, and develop organizational capabilities in establishing, implementing, and continuing improvement of quality management system in public sector organizations.

The German firm’s Philippine office reviewed Pag-IBIG’s membership registration processes and found it to be worthy of the world-class certification. The ISO certification further boosts the agency’s credibility and adds value to its services. The firm gave Pag-IBIG Fund its second ISO certification that now covers all 17 NCR branches to date. This was maintained in December 2015.

Pag-IBIG Fund is the first key shelter agency in the Philippines to receive such certification in December 2011. The agency earned the certification at a record time of three months and 19 days at that time. (end)

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The multi-awarded chorale was also chosen as the Best Regional Entry from the National Capital Region. Its musical director, Mr. Anthony Villanueva, also received the special award for Best Conductor.

The Pag-IBIG Fund Chorale had its beginnings in the early 1990s to initially sing at Fund Coordinators’ Club meetings and other corporate occasions. It was then formally organized in September 2005. The group has become Pag-IBIG’s ambassador, performing in events of other companies, both public and private. It has joined and won in various singing competitions within and outside the country.

The Chorale supported Pag-IBIG Fund’s quest for excellence, proving that Pag-IBIG Fund employees are not only capable of providing exceptional service to the members, but also dazzle in arts and culture, particularly music.

Other winners were Tagum City Chamber Choral (Grand Champion), Bayugan City Educators Chorale (2nd), and Pangasinan Provincial Chorale (4th).

At the 8th Grand Prix Pattaya International Choir Festival in Thailand last year, the Pag-IBIG Fund Chorale won Gold Medals in Folklore A Capella, and in Spiritual, Gospel, and Jazz; and a Silver Medal in the Adult Mixed Category. It was also the 2014 Grand Champion at the Civil Service Commission’s Government Choral Competition.

The group made its public debut at the “Liwliwa: Konsierto ng mga Bayani” held at the Cultural Center of the Philippines. It also participated in various music festivals including the Madz Et Al Choral Festival from 2007 to 2011 and in Maestro Ryan Cayabyab’s Thousand-Voice Choir Project. It has also guested in several TV shows and has spearheaded several outreach activities. (end)

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“We know that it would be difficult for them to come to Tuguegarao to file their Calamity Loan applications and claim for Allied peril insurance. So we went to them instead,” says Ophelia dela Cerna, Deputy Chief Executive Officer for Member Services Cluster.

“We hope that the proceeds of their Calamity loans can help them in repairing their homes destroyed by typhoon Ferdie, even provide them with a start-up capital for a small business, or for their medical needs,” Ms. dela Cerna continues.

To date, the roving team has already received some 165 applications for Calamity Loan. Still they continue to go around the different Local Government Units in the province to collect more Calamity Loan applications earlier distributed to members. There are 1,984 active Pag-IBIG members in Batanes.

Meanwhile, appraisers from Pag-IBIG Tuguegarao have inspected all 38 units covered by Pag-IBIG housing loans finding no major damages. The appraiser’s inspection report is required in filing claims for Allied Perils Insurance. Affected members can also apply for the End-User Home Financing Program for major home repairs

The Pag-IBIG Calamity Loan is offered to active members who are residing in areas placed under a state of calamity. They can borrow up to 80% of their total savings with Pag-IBIG, payable in two years through salary deduction, with a grace period of three months. Interest rate is a low 5.95% per annum. Members can still apply for the Calamity Loan even if he has an outstanding Multi-Purpose Loan or Calamity Loan. In no case, however, will the aggregate loans exceed 80% of the borrower’s Total Accumulated Value (TAV).

From January to August 2016, Pag-IBIG Fund has approved 96,051 calamity loan applications and has disbursed more than PhP 1.26 Billion. (end)

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The Employees Provident Fund, an ASSA member from Malaysia, introduced the ASSA Recognition Awards at the 32nd ASSA Board Meeting and Conference in Singapore last year. The Awards aim to recognize outstanding projects and spur innovation among member-agencies for them to continue doing more for their respective clients.

Pag-IBIG Senior Vice President for Financial Services Sector Florentino E. Espana, Jr. received the awards on behalf of the Fund. Mr. Ng Chee Peng, ASSA Chairman and Chief Executive Officer of the Central Provident Fund Board in Singapore, presented the awards to the following Pag-IBIG projects: Pag-IBIG Loyalty Card and Group Housing Loan Program (GHLP) under Innovation; Outsourcing of Collections of Delinquent Accounts through Collection Agencies under Transformation; Pag-IBIG Overseas Filipino Worker (OFW) Center under Customer Service; I Do, I Do! Araw ng Pag-IBIG and Alam mo ba? Series under Strategic Communication, and OFW Dagdag-Ipon Raffle Promo under Financial Literacy.

The GHLP and Outsourced Collections of Delinquent Accounts are under Pag-IBIG’s home lending operations that make the purchase of homes easier for prospective homeowners. Through the GHLP, Pag-IBIG partners with LGUs, employers, and associations to make home finance more accessible to their respective constituents or beneficiaries. On the other hand, by outsourcing collections through accredited collection agencies, Pag-IBIG guided borrowers on the prompt payment of their home loans and increased its performing loans portfolio, leading to more funds for home finance.

The Loyalty Card, OFW Center, Araw ng Pag-IBIG, and OFW Dagdag-Ipon Raffle Promo are under member services operations that promote membership and savings. The Loyalty Card specifically offers discounts and peso points from partners nationwide. The Araw ng Pag-IBIG is an annual event every February where Pag-IBIG conducts mass weddings for its members and prospective members. The OFW Center offers a one-stop shop to Pag-IBIG OFW members, while the OFW Dagdag-Ipon Raffle Promo encourages them to upgrade their monthly savings.

Alam mo ba? is a series of infographics posted at Pag-IBIG’s official Facebook page to update its 16.4 million members on Pag-IBIG’s programs and services.

Two other projects from the Philippines were also recognized, one each from PhilHealth and Government Service Insurance System. The awarded projects came from ASSA members in 8 countries.

The ASSA Executive Board also approved Pag-IBIG’s recommendation to include Good Governance as a new category in next year’s awards. Mr. Ng Chee Peng agreed that good governance is a very important component in provident fund and social security administration. (end)

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Through the partnership, participants attending the Pre-Departure Orientation Seminar (PDOS) conducted by PASEI are required to register with Pag-IBIG and be active Pag-IBIG members. During the PDOS, Pag-IBIG personnel gave briefings to OFW applicants on Pag-IBIG’s programs and services. Pag-IBIG members and prospective members can also inquire on Pag-IBIG member benefits, register or update their membership, pay their Pag-IBIG savings, inquire on Pag-IBIG’s short-term loan or housing loan, and apply for the Pag-IBIG Loyalty Card at the Pag-IBIG kiosk set up at the PDOS venues.

Atty. Berberabe added, “We encourage our OFWs to register with Pag-IBIG, not just because it is required by law, but more importantly because it offers programs that are beneficial to them. Our savings programs give them an effective mechanism to save their hard-earned money. Our members’ savings are tax-free and government-guaranteed, and earn annual dividends at rates higher than other savings facilities. Our housing programs offer competitive interest rates, as low as 5.5% for the one-year repricing period. In 2015, our OFW members who availed of Pag-IBIG’s housing loans borrowed a total of P12.151 Billion, which is almost 28% of the total corporate loan amount of P43.932 Billion. The average housing loan take-out of an OFW was P993.44 Million, higher than the corporate average of P771.57 Million.”

OFW members can continue remitting their savings with Pag-IBIG even when they already reside in the country of their work, or when seafarers are aboard their ships, through partner collecting agents located worldwide or via credit cards issued by Visa or MasterCard.

As of June 2016, OFWs comprise 27% of total Pag-IBIG membership, or 4.4 million of the total 16.6 million members worldwide. (end)

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“We want to maximize the value of Pag-IBIG membership through the Pag-IBIG Loyalty Card. The project is our way of showing loyalty to our 16.4 million members, as it makes Pag-IBIG more relevant in the lives of Pag-IBIG members through benefits that they can enjoy more frequently. What we did was to tie up with private sector entities that can offer discounts and privileges to our Pag-IBIG members. One such benefit is earning Peso points on groceries that this partnership with Puregold will provide,” said Florencio O. Galang, Jr., Officer-in-Charge of the Office of the Vice President for Public Relations and Information Services Group of Pag-IBIG Fund.

Galang added that the Loyalty Card is also the best way for Pag-IBIG members to have their permanent Membership Identification (MID) numbers at hand because it will be printed on the card. As of July 2016, there are more than 2 million Pag-IBIG Loyalty Card holders in the country.

Pag-IBIG Loyalty Card holders will earn one (1) point for a minimum purchase worth P400.00 of any item, paid in cash or credit card, at any Puregold store. Each point is equivalent to P1.00 which they can use to purchase items at Puregold. Pag-IBIG Loyalty Card holders must have at least 50 points to use or redeem earned points at any Puregold store.

As of June 2016, more than 94,000 points were granted to Loyalty Card holders who shopped at Puregold.

Puregold has 260 outlets nationwide, offering a wide range of consumer products, furniture, and appliances.

Pag-IBIG members who are interested to avail of the Loyalty Card can proceed to the nearest Pag-IBIG Fund branch nationwide. Those who are employed can coordinate with their company’s Human Resources Department for enrollment kiosks to be deployed to their offices.

The Pag-IBIG Loyalty Card also provides additional benefits to Pag-IBIG members in the form of special discounts and rewards when they pay for medicine, groceries, tuition, fuel, travel, and many more at any of the 119 partner-merchants in the country. (end)

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In a statement, Florencio O. Galang, Jr., Officer-in-Charge of the Office of the Vice President for Public Relations and Information Services Group of Pag-IBIG Fund, said that Pag-IBIG has online facilities for the housing transactions of Pag-IBIG members.

"Pag-IBIG housing loan borrowers may now apply for a housing loan through the Fund's Online Housing Loan Application (OHLA) in the convenience of their own homes, offices, or practically any place where they have access to the internet," said Galang.

OHLA works like an appointment schedule system. Members who lodged their application online are still required to bring the complete requirements at their designated Pag-IBIG offices on their scheduled date. They will be given priority through a dedicated window for online applicants.

Another system for developers called Developers' Online Housing Loan Application (DOHLA) is also available and works just like OHLA.

According to Galang, Pag-IBIG members can expect further improvements from these services.

"Some enhancements for the online services are in the works. More than an appointment scheduler, we hope to provide efficient, convenient, and complete online housing loan transactions to our members," he said.

The Fund also launched recently the online retrieval of the Confirmation of Coverage (COC) of loan insurance of Pag-IBIG housing loan borrowers.

The COC is an electronic copy of the details of the housing loan borrower's coverage for Mortgage Redemption Insurance (MRI) or Sales Redemption Insurance (SRI). It may be downloaded and printed directly from the Fund's website.

The MRI and SRI secure the full payment of the housing loan in case of death or permanent disability of the borrowers, provided that they are updated in their monthly amortization payments.

"The COC confirms the borrower’s insurance coverage which is renewable every year. It also contains important information about the policy, such as the name of the insurance company, the amount of insurance, the policy period, and the plan of insurance," Galang explained.

A very small fraction of the monthly amortization of a housing loan borrower goes to the payment of MRI or SRI.

Eligible housing loan borrowers may get a copy of the COC by visiting the Pag-IBIG website. Just click the "e-services" icon, log-on using the housing loan account number, choose "Online Service" option from the menu where they can download, then print or view the COC as desired. (end)

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Last June, Pag-IBIG successfully renegotiated the increase of the burial benefit under the Mortgage Redemption Insurance (MRI) of Pag-IBIG housing loan borrowers by 10% to P22,000, up by P2,000 from the previous P20,000 burial benefit.

The burial benefit is just one of the many features of the MRI offered by the Fund's new life insurance provider after Pag-IBIG conducted a successful bidding process in 2014, ending the almost 30-year negotiated insurance coverage of all Pag-IBIG home loan borrowers since the 1980s.

The MRI renders the housing loan fully paid upon death of the borrower provided the amortization payments are up to date.

The new insurance also pays the loan in full upon determination of total permanent disability, provides amortization support of up to P500,000 in case of terminal illness, and grants experience refund wherein 20% of the insurer’s profits are refunded to the insured borrower. All these features were not present under the MRI of the previous insurance provider.

The new contract also removed the additional premiums for OFWs and those classified as "medically sub-standard," which were charged by the previous insurance provider.

Processing time for claims have also been reduced to as fast as 24 hours from the previous 30 days.

Even with these apparent superior features, premiums were cut by half from P0.41 per P1,000 to only P0.23 per P1,000.

Next to be bidded out will be the Fire and Allied Perils insurance for properties subject of Pag-IBIG housing loans.

In a statement, Pag-IBIG Fund President Atty. Darlene Marie Berberabe said that "Pag-IBIG Fund is continuously implementing reforms and introducing innovative programs that would ensure the provision of more benefits to Pag-IBIG members." (end)

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Pag-IBIG Fund is the first institution granted an eCAR arrangement by the BIR.

Pag-IBIG Fund and BIR previously signed a Memorandum of Understanding authorizing the Fund to use eBIRForms and secure the eCAR, which is aimed at improving the services of the two agencies for the benefit of their common clients. Former BIR Commissioner Kim S. Henares issued Revenue Memorandum Order No. 28-2016 for the policies, guidelines, and procedures in the implementation of the agreement, which was affirmed recently by current BIR Commissioner Caesar R. Dulay.

"Some of our member-borrowers are on a no work-no pay employment and skipping work just to complete the housing loan requirements will have an impact on their salary. With this arrangement, Pag-IBIG housing loan borrowers will no longer have to personally go to the BIR to apply for the issuance of CAR, saving them precious time and resources," said Pag-IBIG Fund President and CEO Atty. Darlene Marie B. Berberabe.

"We are now working double time crafting the Business Rules on this and we assure our members that this will be operationalized the soonest," added Atty. Berberabe.

The partnership of Pag-IBIG and BIR will significantly reduce to five days the processing time on the release of eCAR.

"We are glad that this agreement between Pag-IBIG and BIR complies with the directive of President Rodrigo Roa Duterte to significantly cut government processes for the benefit of the transacting public," Atty. Berberabe said.

The government-to-government partnership with BIR is the second of Pag-IBIG’s efforts to streamline its processes for the benefit of the public, by partnering with government agencies issuing documents that form part of the Pag-IBIG housing loan requirements. This process improvement culminates the full implementation of the arrangement with the Land Registration Authority (LRA), which is aimed at facilitating the issuance of the Titles covering the property subject of the housing loan of its member-borrowers. (end)

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“Our continuous expansion is in line with our Bigger, Better, Faster mantra, in which we offer better services and faster operations to a bigger Pag-IBIG Fund family. To achieve this, we have expanded our presence in Mandaluyong to reach out make our services more accessible to members and employers in the city,” said Pag-IBIG President and CEO Atty. Darlene Marie B. Berberabe.

Business owners registered in Mandaluyong used to remit their contributions at the Pag-IBIG branch in Pasig. “With the opening of our Mandaluyong Branch, they do not have to travel far to transact with us,” Atty. Berberabe added.

Pag-IBIG strengthened its presence in the NCR by increasing its branches from 11 six years ago, to 30 branches and service offices. It now has 113 branches nationwide, up from only 38 in 2010.

Services offered by the Pag-IBIG Mandaluyong Branch include issuance of member’s identification (MID) number, membership registration and receiving of membership contributions from employers, individual payors, and self-employed members, as well as members’ savings under the Modified Pag-IBIG 2 Program. Loan-borrowers can update their housing or short-term loan amortization payments and file their applications for membership, housing, multi-purpose loan (MPL), and calamity loan (CL).

The branch disburses MPL and CL proceeds through Pag-IBIG Citi Prepaid Card or Land Bank Cash Card. Members can request their statement of accumulated value (MSAV) and can be assisted in the transfer of their records & loan details here. They can also inquire about their membership and loan details. The branch also issues Pag-IBIG Loyalty Card wherein members can enjoy privileges and discounts from partner schools, establishments, and merchants.

Pag-IBIG Fund has declared P14.24 Billion worth of dividends for 2015, the highest ever in the agency’s history. It has also doubled its housing loanable amount to P6 Million from P3 Million. (END)

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The figure is also 20% higher compared to the first quarter collections average covering the period 2011 to 2015.

"Pag-IBIG Fund intensified its collection efforts which are essential in ensuring that our housing funds are replenished regularly. Thus, more and more Filipino workers will be given a chance to acquire affordable and decent homes," said Pag-IBIG Fund President Atty. Darlene Marie B. Berberabe.

The amount, according to Atty. Berberabe, does not include yet the P1.8 Billion collections generated from asset recovery.

"Adding up the asset recovery collections will bring to P10.9 Billion the total collections of the Fund in the first quarter of 2016," Atty. Berberabe added.

She explained that the collections from asset recovery come from the successful disposition of the Fund's acquired properties, which are offered to the public at very affordable rates.

Pag-IBIG's partnership with collection agencies also generated an additional P822.4 Million collections for the Fund during the same period.

Pag-IBIG tapped the expertise of these agencies for the delinquent accounts of the Fund. The agencies have collected a total of P9.9 Billion for Pag-IBIG from January 2013 to March 2016.

"It is Pag-IBIG Fund's duty to collect from its borrowers. The Fund has an obligation to protect and manage well the money of Pag-IBIG members," Atty. Berberabe said. (end)

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On Friday (June 30), the Commission on Audit (COA) transmitted a copy of the Annual Audit Report on Pag-IBIG Fund for 2015 and 2014. In the attached Independent Auditor’s Report penned by Supervising Auditor Julia Ella Moreno, she stated that “in our opinion, the financial statements presented fairly, in all material respects, the financial position of the Home Development Mutual Fund (Pag-IBIG Fund) as of December 31, 2015 and 2014, and of its financial performance and its cash flows for the year then ended in accordance with Philippine Financial Reporting Standards.”

An Unqualified Opinion is the best opinion that the agency can get. According to COA’s Guidelines on the Preparation, Submission, and Transmittal of the Annual Audit Report, an Unqualified Opinion is given when the auditor is satisfied in all material respects, such that: the financial statements have been prepared using acceptable accounting bases and policies, which have been consistently applied; the statements comply with statutory requirements and relevant regulations; the view presented by the financial statements is consistent with the auditor’s knowledge of the audited entity; and there is adequate disclosure of all material matters relevant to the financial statements.

COA’s latest unqualified opinion for Pag-IBIG’s financial statement is the sixth overall unqualified opinion received by the state-owned housing agency in recent years. In 2007 and 2008, it received back-to-back unqualified opinions, then for four consecutive years since 2012. (END)

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“With Teleperformance’s expertise in the Business Process Outsourcing (BPO) industry, the partnership between Pag-IBIG and Teleperfomance is another realization of the Pag-IBIG Fund mantra of bigger, better, faster. Last December 14, 2015, we launched the new Pag-IBIG Fund Contact Center in time for our 35th anniversary. We now provide our 16.4 million members with better access to Pag-IBIG by increasing the active phone lines and contact agents, improving the management of members’ queries and concerns through the Customer Relationship Management System (CRMS) of Teleperformance, and hastening the response rates to queries as more calls, chat messages, and emails can be received and resolved by Teleperformance agents and support staff from Pag-IBIG,” said Pag-IBIG Fund President & CEO Atty. Darlene Marie B. Berberabe.

She added that outsourcing contact center activities enabled Pag-IBIG to save almost P136 Million in operational expenses. Pag-IBIG is the first government agency that Teleperformance engaged with.

Services cover the following contact points: calls at the Pag-IBIG hotline 724-4244, chat at the chat link located at www.pagibigfund.gov.ph, and email to

[email protected].

The Pag-IBIG Contact Center has received favorable feedback from members. Commendations ranged from the agents being courteous and patient when dealing with members, and for their thorough and accurate explanations and instructions when asked for details on Pag-IBIG’s programs and services.

Of the inquiries received, queries on member identification (MID) number and short-term loans topped the list. These were followed by queries on member contributions, general information, and housing loans; then requests for consolidation of records, claims inquiry and request, billing statement for housing loans, Pag-IBIG Loyalty Card, and status of housing loan application. (END)

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When the new rates take effect on July 1, Pag-IBIG Fund’s End-User Financing Program will come with rates of 5.500% for a 1-year fixed-pricing period, 6.500% for 3 years, 7.270% for 5 years, 8.035% for 10 years, 8.585% for 15 years, 8.800% for 20 years, 9.050% for 25 years, and 10.000% under a 30-year fixed-pricing period.

The new 1-year fixed-rate can be availed by new home loan borrowers. To avail of the lowest rate of 5.5% per annum, borrowers must meet the following criteria: the monthly amortization should not exceed 30% of the borrower's gross monthly income; and the ratio of the loan amount to the appraised value of the collateral shall not exceed 75%.

“We hope to entice our members who are eyeing home packages that are priced more than socialized housing. To give our members an idea of how affordable our housing loan package is, the monthly amortization for a P2 Million home loan will be P11,355.78 at 5.5% and P12,641.36 at 6.5%. The computed amortization consists of the principal and interest,” said Atty. Berberabe.

This is the fifth time that Pag-IBIG Fund has cut its rates in its home loan programs in the last 5 years. “We have made this possible by improving our fundamentals, that is, by improving underwriting as well as collection. We are focused to further enhancing our housing program to pursue our vision of providing decent shelter for our Filipino workers,” Atty. Berberabe shared.

“We also offer our Affordable Housing Program, where minimum-wage earners can borrow up to P450,000 for only 4.5% per annum. The rate is good for the first 10 years of the loan term which term can go up to 30 years. This is exclusively for minimum wage earners to help them buy a home for the price of renting one. Now our kasambahays and drivers can actually own homes for monthly amortization of P2,280.08, which include the principal and interest,” Atty. Berberabe said.

In 2015, Pag-IBIG Fund approved P55.76 Billion in home loans to finance the construction or the acquisition of 72,270 homes. For 2016, the agency targets to approve more than P60 Billion in home loans, to finance over 76,000 homes.

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“Our Iloilo Branch used to serve the whole Panay Island. With the increased membership base in the island and transactions with the Fund, we expanded our presence in the district of Molo to bring Pag-IBIG Fund’s programs closer to our members. We also have branches in Aklan and Capiz,” said Pag-IBIG Fund President and CEO Atty. Darlene Marie B. Berberabe.

The new office is near Plaza Molo and the historic Molo Church. It covers the districts of Molo and Arevalo, Iloilo City proper, Southern Iloilo, Aleosan, and the provinces of Antique and Guimaras.

The services of Pag-IBIG Molo Branch include membership registration, consolidation and transfer of records, and issuance of Member’s Identification (MID) card and Member’s Statement of Accumulated Value (MSAV). Members may also file multi-purpose, calamity, and housing loan applications, and pay their loan amortizations and monthly savings. In addition, Pag-IBIG Loyalty Card may be availed of at this branch so that members may enjoy the privileges and discounts from our partner-merchants.

The Pag-IBIG Fund Molo branch serves around 89,000 members and more than 2,000 employers. It has received more than 600 housing loan applications in the first five months of 2016.

In 2010, Pag-IBIG Fund had only five branches in the Visayas. Now, it has 17 branches, serving more members in the islands. Nationwide, the number of branches increased from 38 to 113, as Pag-IBIG expanded its presence for its 16 million members to better access its services.

The Pag-IBIG Fund President also shared that the agency posted a net income of P20.52 Billion in 2015. “We also declared P14.24 Billion as dividends, the highest in Pag-IBIG’s history. This was credited proportionately to our members’ savings,” Atty. Berberabe added. (end)

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Pag-IBIG Fund President and CEO Atty. Darlene Marie B. Berberabe presented Pag-IBIG updates to 200 corporate executives and members of the Employers Confederation of the Philippines (ECOP) at their 19th members general meeting (MGM) held at the Henry Sy, Sr. Auditorium, St. Luke’s Medical Center, Global City, Taguig.

She talked about how Pag-IBIG’s Institutional Housing Program (IHP) has helped employees of partner-employers in availing of its Housing Loan (HL) program. “We are bringing our programs closer to employees. They won’t have to take a day off just to avail of our services. Through the IHP, we can assist them in their housing needs. We doubled the loanable amount from P3 million to P6 million, lowered HL interest rate from 11.5% to 6.5%, and offered a subsidized rate of 4.5% to minimum wage earners,” she said.

Atty. Berberabe also discussed the Short-Term Loan Program, the increase of members saving under the Modified Pag-IBIG 2 Program, and the improvement of Pag-IBIG services with the implementation of the “new office look.”

“We maintained our ISO 9001 Certification, passed the Anti-Red Tape survey with flying colors, and gained Commission on Audit’s Unqualified Opinion for three consecutive years already,” she added.The CEO further encouraged the attendees to avail of the Pag-IBIG Loyalty Card. The Loyalty Card is a benefits card exclusive for Pag-IBIG members who can enjoy perks and privileges including up to 50% discount on medicines from partner-pharmacies, up to 20% discounts from partner-schools, and P10.00 discount on LPG, among others.

“All of these were achieved without increasing the monthly contribution of P100,” she said.

After her presentation, Atty. Berberabe answered questions from attendees of the MGM. She was joined by her counterparts from Social Security System (SSS), PhilHealth, and Employees’ Compensation Commission (ECC) in their dialog with ECOP members. (end)

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“We at Pag-IBIG Fund make sure that we practice prudent fund management of the money of our 16 million members by managing our foreclosed assets portfolio through proper disposal and effective collection. Disposal refers to accounts with paid reservation or down payment but awaiting housing loan take-out or full payment. On the other hand, collection refers to the amount collected, either cash or non-cash through housing loan take-out, that are related to the accounts disposed and other related non-performing accounts,” said Pag-IBIG Fund President & CEO Atty. Darlene Marie B. Berberabe.

She added, “For Pag-IBIG to achieve high disposal and collection of foreclosed assets, we used traditional and new media in informing the buying public of the available properties for sale and the processes to acquire these. Face-to-face communication was employed during housing fairs and public auction.

Invitations to bid were posted in the Pag-IBIG offices and printed in newspapers. The list of available properties for sale was posted in the Pag-IBIG offices and regularly updated in the Pag-IBIG Fund website, www.pagibigfund.gov.ph. Notices of public auctions and pictures of the sample properties offered were also posted in the Pag-IBIG Fund official Facebook page.

The number of accounts disposed in 2015 increased by 92% to 19,567, from 10,170 in 2014. The book value increased by 171% to P6.951 Billion, up from P2.565 Billion in 2014.

The increase in disposal of foreclosed assets is attributed to the following: National Capital Region’s marketing strategies like the immediate issuance of Invitation To Purchase; conduct of four Public Auctions monthly; uploading of new inventories in the Pag-IBIG website, www.pagibigfund.gov.ph; strong relationship with existing brokers; conduct of housing fairs to subdivisions with large concentration of assets; and coordination with the Pag-IBIG branches to ensure standard and smooth implementation of disposal guidelines.

In 2015, Pag-IBIG conducted 33 public auctions at its Acquired Assets office in Mandaluyong City.

Pag-IBIG increased its collection from foreclosed assets by 122% to P4.168 Billion, compared with 2014 collections worth P1.877 Billion.

Starting in 2013, a large percentage of the housing loan-related income of Pag-IBIG was sourced from acquired assets. In said year, income from acquired assets soared to P608 Million, from the recorded P7 Million in 2012, representing an 8,586% growth. Income stayed at the P600 Million bracket in the following years, at P627 Million in 2014 and P623 Million in 2015.

From 2013 to 2015, a total of 12,625 foreclosed assets have been bought through the Pag-IBIG Fund housing loan program, with a total loan value of P3.51 Billion.

Production workers/operators/specialists comprise the highest number of workers at 1,381. They are followed by 800 security guards/personnel/officer, 774 drivers/conductors/dispatchers, 755 self-employed workers, and 678 sales/customer representatives. (end)

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“The recognition from ADFIAP affirms that Pag-IBIG Fund is on the right track in its good governance initiative, as we are guided by excellence and integrity in our performance and dealings with our stakeholders. We work on reaching and even exceeding our targets with utmost regard to doing the work with integrity of the agency and its people. We have been institutionalizing measures that promote good governance, among them our three projects that bagged the Gold Award,” Pag-IBIG Fund President & CEO Atty. Darlene Marie B. Berberabe said.

Integrity Pledge for Pag-IBIG Fund Stakeholders

In 2015, Pag-IBIG Fund conducted a series of Signing of the Integrity Pledge and Governance & Integrity Forum for Pag-IBIG Fund stakeholders in five venues nationwide. The series of signings gathered a total of 251 stakeholders who signed the Integrity Pledge on behalf of their respective companies, agencies, or associations. Through the Signing and Forum, Pag-IBIG Fund widened the reach of the Integrity Pledge by gathering its stakeholders and orienting them on the concepts of Governance & Integrity and on the importance of giving their commitments to practicing Integrity when dealing with Pag-IBIG Fund, starting with their recitation and signing of the Integrity Pledge.

The Integrity Pledge is part of the Integrity Initiative campaign being implemented by the Makati Business Club and the European Chamber of Commerce of the Philippines.

Improved Terms of Insurance Coverage for Housing Loan Borrowers

Pag-IBIG Fund bidded out in 2014 the contract for the life insurance coverage for housing loan borrowers. This was previously provided for years by an insurance pool whose contract did not have a period, and did not undergo any type of public bidding. Pag-IBIG was firm in its stand to bid it out, and closely coordinated with the Department of Finance, the Insurance Commission, and the Governance Commission on GOCCs (GCG), to be correctly guided as to the process that should be followed. As a result, the new insurance provider was able to reduce the premiums by half from P0.41 per P1,000 to only P0.23 per P1,000. For the first time, burial benefit up to P20,000 will be given to the heirs in case of the borrower’s death, full payment of loan in case of borrower’s permanent total disability, amortization support up to P500,000 in case of terminal illness, and 20% are of the insurer’s profits by way of Experience Refund. The previous additional P2 per P1,000 OFW premium and additional medically-substandard premium rate have also been scrapped under the new arrangement. Processing time for claims has also become faster.

Proper Management of Acquired Assets

Pag-IBIG Fund continued to practice prudent fund management of the money of its 16 million members by managing its foreclosed assets portfolio through proper disposal and effective collection. In 2015, Pag-IBIG achieved the highest recorded corporate disposal of acquired assets in the last five years, comprising of 19,567 accounts with a total book value of P6.951 Billion. For the same year, Pag-IBIG also collected P4.168 Billion, the highest collection from the sale of its acquired assets since 2011.

The ADFIAP is an international NGO that is in consultative status with the United Nation’s Economic and Social Council and a founding member of the World Federation of Development Financial Institutions. It currently has 100 member-institutions in 39 countries. ADFIAP gives out Outstanding Development Project Awards to recognize and honor ADFIAP members which have undertaken and/or assisted projects that have created a development impact in their respective countries. This year’s judges include ADFIAP officials and officers of top development financial institutions in the Philippines. (END)

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Employees of the local government unit (LGU) of Tanauan City in Batangas can look forward to a more efficient and convenient means to avail of the Pag-IBIG housing loan programs, as the Tanauan LGU recently entered into a Memorandum of Agreement (MOA) with Pag-IBIG Fund under the Fund's Employer Accreditation Program (EAP).

The agreement was signed on March 7, 2016 at the Speaker Belmonte Gymnasium in Tanauan City by Pag-IBIG Fund Vice President for Home Lending Operations Luzon Group Engr. Chito L. Enciso and Tanauan City Mayor Antonio C. Halili.

The EAP aims to provide employees with easier access to Pag-IBIG housing loan programs that are within their affordability level and preferences.

Part of the MOA is the Collection Servicing Agreement wherein the employees' monthly obligations will be paid through salary deduction.

"Automatic salary deduction of your Pag-IBIG payments will translate to ease and convenience on your part, since you no longer have to go to payment centers to fulfil your monthly obligations. And we appreciate Mayor Halili's commitment to remit your payments on time," Engr. Enciso told the employees.

The LGU employees of Tanauan immediately experienced the beneficial effects of the agreement when the city government and Pag-IBIG jointly conducted a housing fair complemented by a housing loan orientation for the LGU employees, right after the MOA signing. Employees of other government agencies like the Philippine National Police and the Department of Education were also invited to the Housing Fair.

Eleven accredited developers of the Fund with housing projects within Tanauan City and neighboring municipalities participated in the Fair. Pag-IBIG also offered its acquired properties for sale. Some employees who expressed interest in the properties offered for sale paid their reservations right away, while several others requested site trips.

Mayor Halili thanked Pag-IBIG Fund for the partnership and expressed the support of the city government to the Fund's programs. "The LGU has long been thinking of a housing project for the employees. Through this partnership, we can further explore to attain this goal," he said.

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“Members and employers from Valenzuela used to transact with our Caloocan Branch. Now that our Valenzuela branch has opened its doors, our services are made more accessible to members in the area. Our clients don’t have to travel far or brave the rush hour traffic,” said Pag-IBIG Fund President and CEO Atty. Darlene Marie B. Berberabe.

When in the branch, prospective members can register, while employers, individual payors, and self-employed members can pay their membership contributions. Members can also pay their additional savings under the Modified Pag-IBIG 2 Program. Loan-borrowers can file their application for Multi-Purpose Loan (MPL) and Calamity Loan (CL), and update their housing, MPL, or CL amortization payments. The branch also disburses MPL and CL proceeds through Pag-IBIG Citi Prepaid Card or Land Bank Cash Card. Issuance of Member’s identification (MID) number, Member’s Statement of Accumulated Value (MSAV), and facilitation of transfer of member’s records & loan details can also be accomplished in the branch.

The branch also issues Pag-IBIG Loyalty Card wherein members can enjoy privileges and discounts from partner schools, establishments, and merchants. Employers can also request for a Loyalty Card Kiosk deployment so that their employees can enroll for the Loyalty Card in the convenience and comfort of their own offices.

Atty. Berberabe shared that Pag-IBIG continues to bring Pag-IBIG services to more members in various areas in Metro Manila through branch expansion.

“We continue to improve our service by making transacting with Pag-IBIG easier for our members.

We have also instituted reforms by reducing interest rates in housing and calamity loans, and insurance premiums as well. Pag-IBIG did these for its members without increasing the monthly contribution of P100,” she added.

From only 11 in 2010, Pag-IBIG branches in the NCR has increased to 30. Pag-IBIG has 113 branches nationwide, up from 38 six years ago.

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The said briefings were arranged by the respective Philippine Consulate Generals in the said cities where there is a concentration of Filipino workers and permanent residents.

There are about 700 thousand Filipinos in Canada consisting of Overseas Filipino Workers (OFWs), permanent residents and immigrants. Worldwide, Canada ranks 6th among countries with Filipinos in terms of Pag-IBIG housing loan availments.

"With the sizeable number of Filipinos in Canada and their strong demand in Pag-IBIG housing loans, we deemed it opportune to open a Pag-IBIG service desk in Canada so we can provide better access for our members," Atty. Berberabe said.

Atty. Berberabe also paid a courtesy call on Consul General Neil Frank Ferrer of the Philippine Consulate in Vancouver, and Consul Shirley Banquicio of the Philippine Consulate in Toronto, to present the program for overseas Filipinos.

"We are honored to be here with you and excited as well to share with you the products and services that the Fund offers to Pag-IBIG members all over the world," said Atty. Berberabe.

She said that the total number of Pag-IBIG members as of December 2015 already reached 15.9 million, 30% of which or around 4.4 million are OFWs.

The Pag-IBIG President also explained that the reforms implemented by the Fund in the last five years made possible the doubling of benefits, including doubling of loanable amount from P3 Million to P6 Million, and reducing interest rate by half from 11.5% to now 5.5% per annum.

Pag-IBIG is currently one of the best performing Government-Owned and Controlled Corporations in the Philippines with P398 Billion total assets and a net income of P20.52 Billion in 2015. In the same year, Pag-IBIG declared P14.24 Billion in dividends, which will be proportionately credited to the accounts of Pag-IBIG members at a dividend rate of 4.8% –significantly higher than the interest rates of other savings products.

"With Pag-IBIG's robust financial standing and transparent fiscal management, you can be assured that your savings with Pag-IBIG is secure and grows faster. OFWs are mandatorily covered by Pag-IBIG while Filipino immigrants and permanent residents are welcome to become voluntary members," Atty. Berberabe added.She also said that Pag-IBIG offers online services to provide convenience to payment transactions with the Fund.

Pag-IBIG's website is capable of processing online membership registration and can accept payments for membership dues using MasterCard and Visa credit cards. Tracking of a member's savings is also possible via the site's online verification system for membership savings.

Atty. Berberabe also met with Mr. Evan Siddall, President of the Canada Mortgage and Housing Corporation (CMHC). In the said meeting arranged by the Philippine Embassy in Ottawa, Mr. Siddall and Atty. Berberabe exchanged best practices in their respective institutions to address the concern of providing affordable housing to its members.

The Members Services Desk will be set up in Toronto. Overseas Filipinos may now avail of the Pag-IBIG services and benefits by getting in touch with our Information Officer Ms. Elizabeth Borres at (647) 642-3694 or [email protected].

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Teachers and non-teaching staff of the Department of Education Regional Office No. 5 (DepEd-RO V) may now conveniently increase their savings with Pag-IBIG Fund through salary deduction.

This was made possible through a Memorandum of Agreement (MOA) signed on March 1, 2016 at The Concourse Convention Center in Legazpi City, by DepEd-RO V Regional Director Ramon Fiel G. Abcede, and Pag-IBIG Fund Legazpi Branch Head Mr. Roberto A. Salvosa and Area Head Ms. Ma. Luisa P. Barcebal.

The increase in savings may be done through the Fund's Upgraded Savings Program, which allows Pag-IBIG members to save over and above the mandatory monthly savings of P100, or through savings in the Modified Pag-IBIG II (MP2) Program of the Fund – an additional savings facility which yields higher annual dividends than Pag-IBIG 1 savings and has a fixed maturity period of five years.

"We are happy to enter into this partnership with DepEd-RO V as this will enable our teachers and other DepEd personnel in the Bicol Region to save for their future," Ms. Barcebal said.

Under the MOA, availment of the programs will allow employees to effect the increase of their savings through salary deduction.

Director Abcede lauded the said undertaking, saying "this would re-awaken and re-integrate the culture of savings amongst its personnel."

He immediately issued Regional Memorandum Circular No. 29 (s.2016), instructing all DepEd divisions under the Bicol Region to allow the conduct of Benefits Orientation by Pag-IBIG Fund during Management Committee Meetings of Division officials.

DepEd Bicol Region has, at present, under its employ more than 50,000 personnel including teachers.

In response, Pag-IBIG Fund Legazpi committed to conduct financial literacy briefings highlighting the savings products of Pag-IBIG.

Pag-IBIG Fund President & CEO Atty. Darlene Marie B. Berberabe congratulated both parties for their efforts in promoting saving for the DepEd personnel and teachers, who are all Pag-IBIG members.

"The savings program of the Fund is designed to help Pag-IBIG members prepare for their future. Pag-IBIG savings are government guaranteed, have higher yield than other savings instruments, and the yield is tax free" Atty. Berberabe said.

In 2015, Pag-IBIG declared its highest-ever dividends amounting to P14.24 Billion, with a dividend rate of 4.83%.

In the past five years, the annual dividend rate of the Fund has not gone down below the 4% level.

Meanwhile, Pag-IBIG records show that from 2013 to 2015, 457 DepEd personnel in the Bicol Region availed of Pag-IBIG housing loans worth P253.043 Million. Over the same period, 11,449 DepEd personnel nationwide availed of housing loans with a loan value of P7.58 Billion

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Pag-IBIG Fund and the National Bureau of Investigation (NBI) recently sealed their partnership through a Memorandum of Understanding (MOU) that will assist NBI employees in their housing needs. Pag-IBIG Fund President and CEO Atty. Darlene Marie B. Berberabe, NBI Director Atty. Virgilio L. Mendez, and NBI Employees Association (NBIEA) President Arch. Domingo LL. Tablizo, Jr.led the signing event.

“Atty. Chito Cruz, Chairman of the Housing and Urban Development Coordinating Council (HUDCC) and Pag-IBIG Chairman of the Board of Trustees, has directed for our proactive coordination with National Government Agencies (NGAs) to bring Pag-IBIG programs and services closer to government employees. Since we launched our Institutional Housing Program in 2013, Pag-IBIG has touched base with various NGAs to offer our housing programs and services. We are now looking into two housing projects in Cavite for NBI employees, one in Bacoor and the other one in Tanza,” Atty. Berberabe said.

Through the MOU, home ownership will be made more accessible to the NBI employees wishing to avail of housing units from the bureau’s proposed housing projects. Atty. Berberabe also mentioned that NBI employees can also be assisted in acquiring their preferred housing unit outside the proposed housing projects or be home-matched if they wish to avail of a house from the inventories of accredited developers.

NBIEA President Arch. Tablizo was grateful that the forged partnership with Pag-IBIG has finally turned into reality. “When I assumed office as the President of NBIEA, I dreamed that someday, NBI would have its own shelter program, particularly for rank and file employees. With high hopes, inspiration, and ultimate goal to help our colleagues in the bureau to provide decent and affordable housing, we met with people and entities that are willing to help us in this endeavor. The rest was history,” he said.

NBI Director Melendez thanked Pag-IBIG Fund for this opportunity, saying, “We are so happy and joyful that in the near future, the employees of NBI will have a house of their own through Pag-IBIG Fund.”

To date, Pag-IBIG Fund has forged partnerships with 11 NGAs nationwide. (End)

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In his report to the Fund stakeholders during the Pag-IBIG State of the Fund Address on January 2016, Cruz said that since 2013, more than 12,000 acquired properties with a loan value of P3.5 billion have been acquired by informal sector workers through Pag-IBIG housing loans.

"Ikinagagalak ko po na ibalita sa inyo na ang ating mga drivers, mga nag-aalaga sa ating mga anak, ating mga cook sa bahay, mga naglilinis ng ating opisina – ay mayroon nang pagkakataon na magkaroon ng sariling bahay sa pamamagitan ng acquired assets disposal program ng Pag-IBIG," Cruz said.

Cruz also reported that 185 house helpers or Kasambahay are now proud homeowners.

"House helpers have very low probability, if not nil, of being approved of a housing loan by private banks. With Pag-IBIG programs, owning a home is now possible for a Kasambahay," Pag-IBIG President Atty. Darlene Berberabe said, adding that the unserved sectors of our society, when empowered, can contribute so much more.

Atty. Berberabe also announced the partnership between Pag-IBIG Fund and the Philippine Association of Detective and Protective Agency Operators, Inc. (PADPAO) for the development of an 822-unit housing project in Davao City for security guards.

Aside from the Kasambahays and security guards, drivers of public utility vehicles have also availed of the housing program of Pag-IBIG.

She explained that some acquired assets of the Fund went through improvement works before being turned over to the driver-borrowers. The improvement works were done by a Pag-IBIG accredited contractor and is part of the agreement with the borrowers.

She said that the availment of Pag-IBIG acquired properties by informal sector workers consistently increased since 2013. From 1,652 units availed of by non-formal sector-workers in 2013, it climbed to 3,448 the following year (2014), then rose to 7,525 in 2015.

"We are now seeing the results of the innovative reforms and inclusive programs introduced over the past five years. More importantly, the non-formal sector-workers benefit from all these, allowing them to make the most out of their Pag-IBIG membership," Berberabe said.

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Every year, Pag-IBIG Fund credits dividends to members’ accounts. This year’s dividend is more than 25 percent, or P 2.89 billion, higher compared to the P 11.35 billion declared last year. Since 2010, Pag-IBIG has declared more than P 61.33 billion in dividends.

“Remember that the members’ monthly contributions are the members’ savings, and their savings earn dividends each year. The dividend rate this year is 4.83 percent, which is much higher compared to interest rates on other savings instruments. The best part is that Pag-IBIG dividends are not subject to withholding tax kaya walang kaltas kahit isang sentimo,” said Pag-IBIG President and CEO Atty. Darlene Marie B. Berberabe.

She also reminded members aged 65 and above to claim their matured Pag-IBIG savings, otherwise known as their Total Accumulated Value (TAV). The TAV comprises of the member’s contributions, the employer counterpart share, and Pag-IBIG dividends earned throughout the years of one’s membership.

In December 2014, the agency launched its BalikSavings65 program which simplified the savings withdrawal process for elderly Pag-IBIG members. About 7,662 members who are 65ers have received their TAV as of December 31, 2015. Their savings total to more than P 301 million pesos that were claimed.

“There are still many 65er-members who have yet to withdraw their TAV. Their TAV is money which they saved and now is the time to reap the benefits. The TAV usually ranges from P40,000 to P70,000 but some members upgrade their monthly contribution so they can have a much bigger TAV. Some of the biggest TAVs I’ve seen ranged from P 532,000 to more than P 733,000. I’m calling our retired members to claim their matured savings to help with their finances. It’s time for them to enjoy their hard-earned savings,” said Berberabe.

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Cruz reported that Pag-IBIG in 2015 collected a total of P4.2 billion from the upgraded savings program of Pag-IBIG members, up by 8% from the P3.9 billion collected in 2014. In 2013, the Fund collected P3.5 billion from the same program.

"Upgraded savings" refers to the voluntary contribution by Pag-IBIG members over and above the mandatory monthly contribution of P100.

"Pag-IBIG offered this upgraded savings option to encourage more Pag-IBIG members to save for their future. Aside from bigger savings upon retirement, Pag-IBIG members who opt to increase their savings also get the benefit of higher dividend earnings – which are tax-free, and bigger loanable amounts in case they need to borrow," Pag-IBIG President & CEO Darlene Berberabe said.

She pointed out that Pag-IBIG's yearly dividend is significantly higher than the interest rates offered by other savings instrument, adding that in the last five years, Pag-IBIG's dividend rate has not gone down below the 4% level.

"For 2015, we declared a total of P14.2 billion in dividends, with a rate of 4.8%, which will be proportionately distributed and credited to the accounts of Pag-IBIG members," Atty. Berberabe said.

She added that the upgraded savings program is beneficial to both the Fund and the Pag-IBIG members.

"Campaigning for upgraded savings has been our strategy to generate more funds. Instead of increasing the mandatory monthly contribution, we decided that we will instead campaign for members to voluntarily upgrade their contributions. We had hoped that if members knew that Pag-IBIG is managing their money well, and they feel the benefits of their membership, members will see the value of increasing their contributions, which are actually their savings, and then they will actually save more," Beberabe said.

Pag-IBIG has the twin mandates of savings generation and provision of affordable housing for its members.

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Pag-IBIG Fund recently established its presence in General Santos (GenSan) City by opening its branch along Santiago Boulevard. Pag-IBIG President and CEO Atty. Darlene Marie B. Berberabe, Maasim Mayor Aniceto P. Lopez, Jr., and General Santos City Mayor Ronnel C. Rivera led the inauguration of the branch. The branch, which has 30 employees headed by Mr. Domingo Cania III serves the Pag-IBIG members and employers in General Santos City, Polomolok, South Cotabato, and seven barangays in Sarangani Province – Alabel, Malapatan, Glan, Malungon, Kiamba, Maasim, and Maitim.

“The directive given to us by Atty. Chito M. Cruz, Chairman of the Pag-IBIG Board of Trustees, is to continuously cultivate good client relationship through the delivery of excellent customer service. Our GenSan branch has adopted the “new office look” – a new standard in Pag-IBIG offices where the layout and design will make our valued clients feel important and comfortable when transacting with us,” Atty. Berberabe said.

Employers, individual payors, and self-employed members, as well as Modified Pag-IBIG 2 savers can remit their membership contributions or savings at the Pag-IBIG GenSan Branch. The branch also accepts housing and short-term loan amortization payments, applications for membership, and applications for housing, multi-purpose (MPL), and calamity loans (CL). Other services offered by the branch include releasing MPL and CL proceeds through Pag-IBIG Citi Prepaid Card or LandBank Cash Card, issuance of member’s identification (MID)/transaction card and members’ statement of accumulated value (MSAV), and transfer of members’ records and loan details.

Pag-IBIG has 112 branches nationwide as of January 2016, nine of which are located in South Mindanao.

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Pag-IBIG Fund and the Philippine Association of Detective and Protective Agency Operators, Inc. (PADPAO) started the housing project for security guards in Sitio Ilam, Mulig Toril, Davao City through a groundbreaking ceremony led by Pag-IBIG President & CEO Atty. Darlene Marie B. Berberabe and PADPAO National President Ramon D. Bergado. Beneficiaries of the project are PADPAO security guard members and operators.

Atty. Berberabe said that the project is expected to generate 748 socialized housing units.

"Our Chairman of the Board of Trustees and also the Chairman of the Housing and Urban Development Coordinating Council, Atty. Chito M. Cruz, acknowledges the efforts of our members, especially low wage earners, to ensure a quality life for their families. He is pleased with our partnership with PADPAO, as the project will definitely benefit security guards. They will be reporting for work, particularly those in night shift, with peace of mind, knowing that their families are in the comforts of their own homes located within a safe community," Atty. Berberabe said.

Pag-IBIG and PADPAO signed a Memorandum of Understanding in 2012 that aims to provide assistance to PADPAO members in their home financing needs.

Mr. Bergado thanked Pag-IBIG Fund for the assistance extended to PADPAO members saying, “PADPAO’s corporate life is already 57 years. This is not just a historic event for us but also a breakthrough. We would like to thank Pag-IBIG Fund for affording our security guards a decent shelter. This was just a dream before, now it’s a reality.”

The event was also attended by 40 of the initial 53 pre-qualified security personnel who earlier signified interest in the project.

PADPAO has 1,800 operator-members, with a total manpower complement of 664,000 security guards to date. In Davao alone, there are around 30,000 security guards under the employ of about 100 PADPAO operator-members.

The 748-unit housing project within an area of 71,887 sq.m. will be developed by PrimeWorld Construction and Development Corporation (PWCDC). The developer will build 641 units of Arianna Model and 107 Brianna Model units. The Arianna Model, with a size of 48 sq.m. lot area and 25.15 sq.m. floor area, will cost P450,000. Brianna units will cost higher at P550,000 but the units have slightly bigger dimensions, with a lot area of 54 sq.m. and floor area of 29.85 sq.m.

"Pag-IBIG recognizes the significance of decent shelter in the lives of Filipino families. That is why we have been actively collaborating with both the private and public employers of Pag-IBIG members in order to make the Pag-IBIG housing loan programs more accessible to our members," Atty. Berberabe said.

Prospective projects of PWCDC in Butuan City and General Santos City will also be intended for PADPAO beneficiaries.

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Job order employees of the Local Government Unit (LGU) of Maasim in Sarangani Province are now assured of their membership with Pag-IBIG Fund after Pag-IBIG Fund President and CEO Atty. Darlene Marie B. Berberabe and Maasim Mayor Aniceto P. Lopez, Jr. signed an agreement on the employees’ registration. Pag-IBIG Deputy CEO Ophelia L. dela Cerna and Mr. Caesario Cagas, representative of Sarangani Province Governor Steve Chiongbian Solon, witnessed the event.

111 Maasim LGU employees are currently under job orders.

“Republic Act No. 9679 mandates all Filipino workers to register with Pag-IBIG so that they can enjoy the benefits granted to its members. By partnering with LGU Maasim, more workers now have the chance to avail of Pag-IBIG’s provident and housing programs. Pag-IBIG Chairman of the Board of Trustees Atty. Chito Cruz supports this continuing activity to engage LGUs in the registration of their job order employees,” said Atty. Berberabe.

The Fund will also conduct and initiate information campaign such as seminars, fora, meetings, briefings, and other information dissemination drive to all employees under job order and contract services, as well as those hired as project employees whose income comes from the Maasim LGU.

During the signing ceremony, Atty. Berberabe also presented Pag-IBIG’s accomplishments such as the increase of loanable amount for Housing Loan (HL) from P3 million to P6 million, lowering of HL interest rates, higher annual dividend rates, upgraded contributions, and increase in the membership level.

“All of these were achieved without increasing the monthly savings of P100,” Atty. Berberabe said.

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