Pag-IBIG Fund allocates P5 B in Calamity Loan to help members in Odette-hit areas

22

December
2021

Pag-IBIG Fund has allocated P5 billion in Calamity Loans to help its members affected by typhoon Odette, its top executives announced on Wednesday (Dec. 22).

“In times like these, Pag-IBIG Fund is always ready to help members through our Calamity Loan Program. That is why the Pag-IBIG Board has allocated a calamity loan fund of P5 billion as aid for our members in Visayas and Mindanao to help them recover from the devastation caused by typhoon Odette,” said Secretary Eduardo D. del Rosario, who heads the Department of Human Settlements and Urban Development (DHSUD) and the 11- member Pag-IBIG Fund Board of Trustees.

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Under the Pag-IBIG Calamity Loan Program, eligible members may borrow up to 80% of their total Pag-IBIG Savings, which consist of their monthly contributions, the counterpart employer’s contributions, and accumulated dividends earned. And in consideration of the plight of the members, the Calamity Loan is offered at a rate of 5.95% per annum which is the lowest rate in the market. The loan is payable over a period of up to three years, with a grace period of two months so that initial payment is due only on the third month after the loan is released. Qualified borrowers may apply for the Calamity Loan within 90 days from the date when an area has been declared under a state of calamity.

Meanwhile, Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti added that as of November this year, more than P1.15 billion in Calamity Loans have been released by the agency to help 76,521 members in calamity-hit areas. He also added that the program has been made more affordable as borrowers now have the option to choose a longer 3-year term to reduce monthly payments by up to 31%. This means that for a Calamity Loan worth P20,000, monthly payments will be reduced from P897.23 to only P615.72.

“Members in affected areas who have access to internet service and have a Pag-IBIG Loyalty Card Plus, Land Bank of the Philippines or United Coconut Planters’ Bank (UCPB) cash card, may file their Calamity Loan applications online via Virtual Pag-IBIG. This would allow them to file and receive their loans safer and faster, so that they can continue to tend to the needs of their families as they recover from the effects of the typhoon. And, even while our own offices and personnel in typhoon-hit areas have also been affected, our branches are open and ready to receive loan applications. Your Lingkod Pag-IBIG is committed to deliver service that matters, always and in all ways,” said Moti. (END)

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Pag-IBIG Fund is most trusted GOCC in 2021 Philippine Trust Index

06

December
2021

Pag-IBIG Fund is the most-trusted government-run corporation according to a nationwide trust survey of key institutions in the Philippines.

This is according to the 2021 Philippine Trust Index (PTI), a nationwide survey by the EON Group that cuts across backgrounds to measure Filipinos’ trust in the government, the business sector, the media, non-governmental organizations, the Church, and the academe.

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“We are truly honored to be included in the list of most trusted government agencies. The latest results of the Philippine Trust Index and our 9th straight unmodified opinion from COA show that we have fulfilled our duties during the pandemic while still maintaining the highest standards of transparency and integrity in our work. This is aligned with President Duterte’s vision of clean government with heart for service,” said Secretary Eduardo D. del Rosario, who heads the Department of Human Settlements and Urban Development (DHSUD) and the 11-member Pag-IBIG Fund Board of Trustees.

The 2021 PTI noted that “in terms of government agencies, departments that got the highest trust are those whose functions require them to remain engaged with the public, even during the pandemic such as online learning, finance regulation, loan assistance and aid distribution.”

The Department of Education earned the highest trust rating of 91% followed by Pag-IBIG Fund at 89% – the highest among GOCCs on the list.

“On behalf of all Lingkod Pag-IBIG, thank you for your trust, our dear members! As you know, we never stopped providing service even during the lockdown and community quarantines. Instead, we improved our digital assets so you can continue transacting with us online. We have proven that during this health crisis, you can always count on our Lingkod Pag-IBIG brand of service. And, while we have previously received awards and recognition, we are even more grateful that it is the public itself, the people we serve, that ranked us as the most trustworthy GOCC in the country for 2021,” Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti said. (END)

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Pag-IBIG Fund finances 17,268 socialized homes in Jan-Oct 2021, up 49%

06

December
2021

Pag-IBIG Fund financed over 17,000 socialized homes for low-income earners in the last ten months, a figure that grew by almost 50% from the previous year even amid the ongoing pandemic, top executives said on Monday (November 21).

From January to October, the number of socialized housing units funded by the agency grew 49% to 17,268 compared to the 11,560 socialized units in the same period in 2020. In terms of amount, socialized housing loans amounted to P7.54 billion, which is 59% higher than the P4.75 billion released last year.

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“We are happy to announce that the number of members from minimum-wage and low-income sectors who were able to buy or build their homes continues to increase. Even during the pandemic, Pag-IBIG Fund’s Affordable Housing Program provides opportunities for the underserved to secure a home of their own. This is our contribution to the recovery of our country, which is being led by President Rodrigo Duterte,” said Secretary Eduardo D. del Rosario, Chairman of the Department of Human Settlements and Urban Development (DHSUD) and the 11-member Pag-IBIG Fund Board of Trustees.

Pag-IBIG Fund’s Affordable Housing Program (AHP) is a special home financing program that caters to the needs of minimum-wage and low-income members who earn up to P15,000 a month within the National Capital Region (NCR) and members who earn up to P12,000 per month outside the NCR. Under the AHP, Pag-IBIG Fund offers a subsidized rate of 3% per annum for socialized home loans worth up to P580,000, which is the most affordable rate in the market today.

So far this year, socialized units make up 24% of the total 72,301 homes funded by Pag-IBIG while socialized home loans comprise 10% of the P74.61 billion in home loans released as of October, according to Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti.

“Our approach to housing has always been comprehensive. And because Pag-IBIG Fund is exempt from tax under its Charter, we were able to create this special home financing program for our low-income members. With the AHP, monthly payments can be as low P2,445.30, which is lower than the cost of rent. And qualified borrowers will never have to put out cash for equity. Even during this difficult time, the AHP provides minimum-wage workers the opportunity to become homeowners. Our housing program is inclusive such that we have the AHP specifically to address the needs of our underserved sector. That is the Lingkod Pag-IBIG brand of service,” said Moti. [END]

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Members save record-high P52.5 B in Pag-IBIG Fund in Jan-Oct, up 35%; MP2 Savings breach P21 B, up 110%

06

December
2021

Pag-IBIG Fund members have saved more than P52 billion in the last 10 months, breaking yet another record for the period and exceeding full year figures from before the pandemic, top agency officials announced on Wednesday (Nov.24).

From January to October, the amount collectively saved by members with the agency totaled P52.47 billion – the highest for any 10-month period. The savings collected so far this year grew 35% from the same period in 2020 and 26% higher compared to figures from 2019, which is the agency’s best performing year yet.

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“Even during these challenging times, we are happy to see that members are still keen on growing their savings with Pag-IBIG Fund. With the amount of savings increasing by P13.66 billion compared to last year and P10.81 billion compared to our best year in 2019, these numbers clearly show that Pag-IBIG Fund has already recovered from the effects of the pandemic. In fact, the P52 billion savings collected as of October this year already exceeds the amount of savings collected for the whole 12 months in all previous years. With more savings, Pag-IBIG now has more funds for its programs to help more members in the coming months and even years. This is our contribution to the recovery of the nation, which is being led by President Duterte,” said Secretary Eduardo D. del Rosario, who heads the Department of Human Settlements and Urban Development (DHSUD) and the 11- member Pag-IBIG Fund Board of Trustees

Driving the growth is the agency’s voluntary savings program, the Modified Pag-IBIG 2 or MP2 , according to Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti. He said that in the last 10 months, MP2 savings amounted to a record-breaking P 21.43 billion or 41% of the total savings collected for the period.

“We have seen the dramatic increase in MP2 in the last five years. In fact, the MP2 is the only figure that did not show signs of slowing down, and even grew during the pandemic. But the growth in 2021 is truly remarkable. The P21.43 billion MP2 savings as of October is more than double the P10.21 billion collected in the same period last year and is already P8.16 billion more than the P13.27 billion collected for the whole 2020. To put it into another perspective, MP2 has grown so much this year that savings as of October is higher than the total amount collected from 2012 to 2019 combined!,” said Moti.

The agency added that the increase in purely voluntary savings corroborates the results of the 2021 Philippine Trust Index that ranked Pag-IBIG Fund as the most trusted GOCC.

“We thank our members for their continued trust in Pag-IBIG Fund and in choosing to rely on us to grow their hard-earned savings. We still have a few more weeks before we end the year, and with numbers such as these, I am optimistic that 2021 will be another milestone year and the start of another wave of ‘best year evers’ as we help even more members securely save for their future goals,” said Moti. (END)

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Pag-IBIG Fund releases record-high P65.48 B home loans in Jan-Sept 2021; up 80%

11

November
2021

Pag-IBIG Fund again surpassed its own record amid the ongoing pandemic by releasing more than P65 billion in home loans in the last nine months, agency officials announced on Friday (Nov. 5).

From January to September, the agency released home loans worth P65.48 billion, which is the highest amount ever released compared to any previous nine-month period. Compared to recent years, the amount disbursed so far this year grew 80% from the P36.43 billion released during the same period in 2020 and is 11.5% higher than the P58.73 billion released in the same period in 2019, which is the Fund’s best performing year.

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“Even as the country continues to face the challenges posed by pandemic, Pag-IBIG Fundwas able to set a new record in terms of housing loan takeouts by the end of the third quarter. This means that more and more Filipino workers are becoming homeowners which is good news as this growth contributes to the economic recovery efforts of the government led by President Rodrigo Duterte,” said Secretary Eduardo D. del Rosario, who heads the Department of Human Settlements and Urban Development (DHSUD) and the 11-member Pag-IBIG Fund Board of Trustees.

Meanwhile, Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti noted that the amount released as of September financed the acquisition of 77% more homes this year - totaling so far to 63,765 units for its members.

He added that out of the P65.48 billion released, over P6.71 billion went to finance the acquisition of 15,456 socialized housing units for the minimum- wage and low-income sectors and that these socialized housing units make up more than 24% of the entire number of homes financed from January to September.

“We have one more quarter left before 2021 ends and judging by our home loan releases in the previous three quarters, I am confident of achieving another banner year. So far, our average monthly home loan releases hovers around P7 billion. It even peaked at over P9 billion in June. In the third quarter alone, our home loan releases amounted to P21.14 billion. If this trend holds, home loan releases by the end of the year will likely breach the P90 billion mark and may even reach P100 billion. This shows the grit and resilience of Pag-IBIG to serve our members no matter the circumstance,” said Moti. (END)

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Pag-IBIG, Muntinlupa City launch housing project for LGU employee

28

October
2021

Pag-IBIG Fund launched another housing project under its Countryside Housing Initiative, this time in partnership with Muntinlupa City, to provide affordable homes to employees of the local government unit.

The BALAI Munti Housing Project, which consists of 35 medium-rise buildings providing 668 condominium units, shall be made available for employees of the city government who may purchase these units through a Pag-IBIG Housing Loan.

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Pag-IBIG Fund’s cash loans come in the form of a Multi-Purpose Loan (MPL), and a Calamity Loan (CL) for areas under a state of calamity. Also known as Short-Term Loans (STL), the MPL and CL serve as affordable and readily accessible sources of funds for its members. Qualified members can borrow up to 80 percent of their total Pag-IBIG Regular Savings, which consists of their monthly savings, their employer’s counterpart contributions, and dividends earned annually. The proceeds can then be used to pay for tuition fees, medical expenses, minor home improvement, as capital for small businesses, or as emergency fund during calamities.

“Pag-IBIG cash loans are paid over the course of 24 months. And now, our members have the option to extend the term to 36 months. By choosing the longer payment period, members can enjoy significantly lower monthly payments,” said Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti.

“With the partnership between the Department of Human Settlements and Urban Development, Pag-IBIG Fund, and the City Government of Muntinlupa, we have made this housing project possible. This launch is a timely event because we are celebrating the National Shelter Month this October. This is also a historic event because the BALAI Munti is the first DHSUD-BALAI-funded project in the NCR and is part of Pag-IBIG Fund's Countryside Housing Initiative. The CHI brings together project proponents to bring quality and affordable housing projects to more Filipinos, as we continue to implement our nation's shelter program as led by President Rodrigo Duterte,” said DHSUD Secretary Eduardo D. del Rosario, who also chairs the 11-member Pag-IBIG Fund Board of Trustees.

Pag-IBIG Fund established the Countryside Housing Initiative or CHI in 2017 as a strategy to provide better access to homes for its members through partnerships with government and private institutions, employers, and other organized groups. Such partnerships reduce costs in building the housing projects and provide the beneficiaries with homes that are much more affordable compared to similar projects.

“If you notice, the units in the BALAI Munti normally costs about P1.2 million each. But since this project is under our Countryside Housing Initiative, beneficiaries can buy units there for only P750,000. That’s the major benefit of CHI. Because of the partnerships we create, we are able to save on additional costs like marketing and promotions for a housing project. This then leads to a quality home that is more affordable than what’s available in the market,” said Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti.

He added that since 2020, despite the pandemic, Pag-IBIG Fund has been able to sign partnerships worth P1.08 billion with nine different LGUs and institutions all over the country through the CHI, which shall bring 3,638 housing units for their respective beneficiaries.

“With CHI, our main target is to bring development and provide better access to homeownership for our members in areas in the countryside. We are happy that we are able to apply the same strategy in bringing affordable homes for our members residing in cities such as Muntinlupa. We shall continue to do our best in partnering with more organizations so that we can provide more affordable homes to members, wherever they choose to live,” Moti said (END)

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Pag-IBIG Fund makes cash loans more affordable with longer payment period

10

September
2021

Pag-IBIG Fund has made its cash loans more affordable by lengthening its payment term to three years, its top officials announced on Thursday (September 09).

“During these difficult times, we continue to improve our programs to respond to the needs of our members. Last year, we launched special programs such as a payment moratorium and grace periods in accordance with the Bayanihan Acts, to help our borrowers with their finances. This year, we are lengthening the term of our cash loans from two years to three years to give borrowers more time to pay off their loans, and more importantly, to make its monthly payments lower. This is our response to the call of President Duterte to provide the necessary services to help more Filipinos to recover from the pandemic,” said Secretary Eduardo D. del Rosario, Chairman of the Department of Human Settlements and Urban Development (DHSUD) and the 11-member Pag-IBIG Fund Board of Trustees.

Read more.

Pag-IBIG Fund’s cash loans come in the form of a Multi-Purpose Loan (MPL), and a Calamity Loan (CL) for areas under a state of calamity. Also known as Short-Term Loans (STL), the MPL and CL serve as affordable and readily accessible sources of funds for its members. Qualified members can borrow up to 80 percent of their total Pag-IBIG Regular Savings, which consists of their monthly savings, their employer’s counterpart contributions, and dividends earned annually. The proceeds can then be used to pay for tuition fees, medical expenses, minor home improvement, as capital for small businesses, or as emergency fund during calamities.

“Pag-IBIG cash loans are paid over the course of 24 months. And now, our members have the option to extend the term to 36 months. By choosing the longer payment period, members can enjoy significantly lower monthly payments,” said Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti.

He added that by their calculations, they have reduced monthly payments by almost a third. With the average cash loan amounting to P20,000, members pay P1,016.52 per month for an MPL, and P897.23 per month for a calamity loan under a two-year payment term. However, with the new three-year payment term option, the amount of each monthly payment will be reduced to only P734.57 a month for an MPL, and P615.72 a month for a calamity loan. With payments spread out over a longer period, monthly payments were brought down by 28% for the MPL and 31% for the Calamity Loan

“We recognize that these are challenging times, and we are doing all we can to help our members as the health emergency continues. From January to July alone, we have released P25.42 billion in cash loans to aid more than 1.1 million members. We are poised to help more members in the coming months, now that the extended payment term has made our cash loans even more affordable. We also made the process of applying for loans safer and more convenient by accepting loan applications online via the Virtual Pag-IBIG. This is Lingkod Pag-IBIG at work, especially when members need us most,” Moti said. (END)

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Pag-IBIG posts P16.11 B net income in H1 2021; up 14%

1

September
2021

Pag-IBIG Fund posted earnings of P16.11 billion in the first half of 2021 amid the challenges posed by the continuing health crisis, a 14% increase compared to the same period last year, its top officials reported on (Wednesday, 25 August).

From January to June, Pag-IBIG Fund’s gross income reached P27.14 billion while its net income amounted to P16.11 billion. Compared to the same period last year, gross income grew 13% and net income increased increased 14%, driven mainly by earnings from its housing and short-term loans (cash loans), and trading gains.

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“We are happy to report that Pag-IBIG Fund remains strong amid the pandemic. The double-digit increase in our income figures proves that we remain as one of the best performing government corporations corporations in the country today. This places us in a strong position to continue providing social services to more Filipino workers, in line with President Duterte’s directives as we continue to recover from the challenges caused by the pandemic,” said Secretary Eduardo D. del Rosario, Chairman of the Department of Human Settlements and Urban Development (DHSUD) and of the 11-member Pag-IBIG Fund Board of Trustees.

He added that as of July, Pag-IBIG Fund has so far released P52.22 billion to finance the acquisition of 51,206 homes for its members. During the same period, the agency released P25.42 billion in cash loans, helping over 1.18 million members answer their immediate financial needs as the health crisis continues. Savings from its members also reached P37.46 billion as of July, strongly driven by the agency’s popular MP2 Savings where members members have collectively saved P15.83 billion.

Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti, meanwhile, emphasized that the agency’s gains shall redound to the benefit of its members. He noted that under its charter, Pag-IBIG Fund is mandated to return at least 70% of its annual net income to its members in the form of dividends which are credited to their savings.

“The true owners of Pag-IBIG Fund are the Filipino workers.That is why it is our responsibility, as the administrators of the Fund, to manage their contributions prudently and excellently. Last 2020, we gave back 92.15% of our net income to members in the form of dividends, even though our Charter mandates only a 70% minimum. With our strong fiscal standing, our members can rest assured that our programs shall remain available to help them recover from the pandemic and that each hard-earned peso they save with us remains secure and continues to grow,” Moti said.

Earlier this month, the agency received its 9th consecutive unmodified opinion from the Commission on Audit (COA) for its financial statements for year 2020. This is the highest rating that state auditors give to a government government agency or corporation, to mean that the financial statements of an agency are presented, in all material respects, in accordance with applicable financial reporting frameworks. (END

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Pag-IBIG Fund earns COA’s highest audit rating for 9th straight year

10

August
2021

Pag-IBIG Fund has earned the Commission on Audit’s highest audit rating for the ninth consecutive year even amid the pandemic, top officials announced on Friday (Aug.06)

In a letter dated July 29, COA informed the agency that it has rendered an unmodified opinion – its highest rating - on the fairness of the presentation of Pag-IBIG Fund’s financial statements for the year 2020.

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“We faced many challenges last year. However, we remained committed in managing the Filipino workers’ fund excellently. We implemented a number of loan payment reprieves and stimulus programs to help our members and stakeholders during the lockdown while ensuring that these did not affect our robust financial standing. Our ninth straight top rating from state auditors is a milestone for us as an organization and serves as proof that even amid the health emergency, we heed the call of President Duterte in ensuring that government offices like ours are run professionally and remain corruption-free,” said Secretary Eduardo D. del Rosario, Chairman of the Department of Human Settlements and Urban Development (DHSUD) and of the 11-member Pag-IBIG Fund Board of Trustees.

From 2012 to 2017, Pag-IBIG Fund earned COA’s unqualified opinion and from 2018 to 2020, it has gained its unmodified opinion. Auditors use both the unqualified opinion and unmodified opinion, which are the highest ratings that COA gives to a government agency or corporation, to mean that the financial statements of an agency are presented, in all material respects, in accordance with applicable financial reporting frameworks.

Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti added that even while they rapidly responded to the needs of members, stakeholders, and their own personnel through numerous programs and interventions, the agency made sure that all requisite processes were strictly followed ensuring that all were above-board prior to implementation.

In 2020, Pag-IBIG Fund aided 4.8 million borrowers by automatically providing them with grace periods totaling 6 months in accordance with the Bayanihan I and II Acts. The agency also aided 320,406 borrowers through its own 3-month loan payment moratorium program. Home loan borrowers were also offered a special loan restructuring program, which resulted in 85,440 members gaining better payment terms on their home loans during the health crisis.

The agency also deployed programs to aid in the recovery of the Philippine economy through a stimulus in the housing industry. A P10 billion home construction fund was made available to accredited developers to encourage production and boost supply of housing units, while home loan promo rates were offered to members to encourage demand. These allowed housing industry players to maintain operations and continue generating jobs.

These responses to aid members and stakeholders cope with the Covid-19 pandemic won the agency a gold award under the Most Valuable Government Response category in the recently concluded 2021 Asia-Pacific Stevie Awards

Internally, Pag-IBIG Fund adopted a blended working arrangement and provided more transportation to ferry its workforce. These ensured that the agency remained in full operations while minimizing the risk of the spread of the virus among its personnel. Staff were provided personal protective gear, supplies to maintain hygiene, and improved medical coverage – all to protect its workforce so that they can continue to serve members.

“In 2020, the economic slowdown may have dampened our performance, but it did not stop us from extending benefits to our members and stakeholders. It was an extraordinary year which necessitated extraordinary steps to help. Prior to the pandemic, we achieved record-highs year after year in terms of loans released, collections and net income. Last year, our record-high was the number of members we helped cope and recover from the effects of the pandemic. Our latest unmodified opinion from COA shows that we have achieved three things last year. First, we were able to safeguard the health and welfare of our workforce which was necessary for the Fund’s continued service to the public. Second, we took good care of our members through the speedy deployment of programs responsive to their needs. And lastly, we were able to do all these while still maintaining the highest standards of financial integrity. That is Lingkod Pag-IBIG service at work,” Moti said. (END)

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Pag-IBIG’s Pandemic Response Wins Gold at 2021 Asia-Pacific Stevie Awards

05

August
2021

Pag-IBIG Fund’s response to aid members and stakeholders cope with the Covid-19 pandemic won a gold award under the Most Valuable Government Response category in the recently concluded 2021 Asia-Pacific Stevie Awards.

The agency also bagged two bronze awards for its efforts to protect its employees’ welfare amid the pandemic under the Most Exemplary Employer category, and for the Pag-IBIG Fund 2019 Digital Corporate Annual Report under the Innovation in Annual Reports category.

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The Stevie Awards is considered as one of the world’s premier business awards which honors innovations and achievements of organizations worldwide. It includes among its judges many of the world’s top business leaders, entrepreneurs, educators, innovators, and executives. The Asia-Pacific Stevie Awards recognize innovation in the workplace in all 29 nations of the Asia-Pacific region. Over 900 nominations were received by the award-giving body for this year.

"We at Pag-IBIG Fund recognize our mandates and the role we play in helping our members, stakeholders and the nation cope and recover from the challenges brought about by the pandemic. That is why we immediately moved to implement programs and policies to respond to their needs, while taking care of our own employees’ welfare. These are Pag-IBIG Fund’s contributions to our nation’s recovery efforts, led by President Duterte, during these challenging times,” said Secretary Eduardo D. del Rosario, head of the Department of Human Settlements and Urban Development, and the 11-member Pag-IBIG Fund Board.

Pag-IBIG Fund’s gold Stevie Award was for its Alagang Pag-IBIG: Helping the Nation Recover from COVID-19 campaign, in recognition of the agency’s Covid-19 response to help address the needs of its members and stakeholders amid the health crisis.

The agency’s response to the health crisis in 2020 aided nearly 4.8 million members with home loans and cash loans by automatically providing them with grace periods totaling 6 months in accordance with the Bayanihan I and II Acts. The agency also aided 320,406 borrowers through its own 3-month moratorium on loan payments, offered a day after an Enhanced Community Quarantine (ECQ) was initially implemented in the country. The agency also offered a Special Housing Loan Restructuring Program which allowed 85,440 members to get better payment terms on their home loans.

Pag-IBIG’s response was not limited to benefit its existing borrowers alone. The agency deployed programs to aid in the recovery of the Philippine economy through a stimulus in the housing industry. A P10 billion home construction fund was made available to accredited developers to encourage production and boost supply of housing units, while home loan promo rates were offered to members to encourage demand. These allowed housing industry players to maintain operations and continue generating jobs.

Meanwhile, its Pag-IBIG You Can Count On: The Pag-IBIG Fund Covid-19 Communication Program was recognized with a bronze award for its achievements in keeping the agency’s employees safe while delivering service to members during the pandemic. The Pag-IBIG Fund 2019 Digital Corporate Annual Report: Serving the Nation with Excellence and Innovation, also bagged a bronze award for its innovative features and as the first-ever virtual annual report among government institutions in the Philippines.

“We have always committed ourselves to bring the Lingkod Pag-IBIG brand of service – Tapat na Serbisyo, Mula sa Puso - to our members and stakeholders. We are honored to have been recognized by the Asia-Pacific Stevie Awards for our COVID-19 response, as well as for our efforts to keep our employees safe amid the pandemic and in bringing forth innovation in our annual report. These awards are a testament to our commitment to continuously provide excellent and innovative service, especially during these challenging times,” said Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti. (END)

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Pag-IBIG Fund finances 10,640 homes for low-wage earners in H1 2021, up 99%

22

July
2021

Pag-IBIG Fund extended socialized housing loans to 10,640 members from the minimum-wage and low-income sectors in the first half of 2021 despite the continuing pandemic, top officials announced Wednesday (July 21).

The number of socialized home loans make up 24% of the total 43,573 home loans released by the agency from January to June this year. The number is equivalent to P4.66 billion or 11% of the P44.34 billion home loans released by the agency during the first half of the year. Amid the health crisis, the number of socialized home loans increased by 99% - nearly double the 5,357 socialized home loans granted during the same period last year, while the amount released also grew by 111% from P2.21 billion in 2020.

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“We believe that home ownership is a right of every Filipino family. With the Affordable Housing Program of Pag-IBIG Fund, achieving the dream of homeownership is made possible especially for minimum-wage workers . The program’s lowest rates and longest term allow our members from the low-income sector to buy or build a home of their own. This is our way of adhering to President Rodrigo Duterte’s call for government institutions to carry out programs that address the needs of the underserved sector,” said Secretary Eduardo D. del Rosario, Chairperson of the 11-member Pag-IBIG Fund Board of Trustees and Secretary of the Department of Human Settlements and Urban Development (DHSUD).

The agency’s Affordable Housing Program (AHP) is designed for members who earn up to P15,000 a month within the National Capital Region (NCR) and members who earn up to P12,000 per month outside the NCR. Under the AHP, Pag-IBIG Fund offers a subsidized rate of 3% per annum for socialized home loans up to P580,000.

Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti said that the 3% rate offered by Pag-IBIG Fund is the lowest in the market, and has been made available to eligible members since May 2017.

“During this difficult time, Pag-IBIG Fund’s Affordable Housing Program has become the means to support our low-income members in helping them acquire their own homes. Because we are exempt from tax under our Charter, Pag-IBIG Fund can afford to offer the lowest rates for the home loans of minimum and low-wage workers. Aside from keeping our interest rates low, we also reduced its insurance premiums, which keeps the monthly amortization at an affordable P2,445.30 for a socialized home loan of up to P580,000. And what’s more, qualified borrowers will never have to put out cash for equity under the program. All of these are part of our efforts to provide the best home financing program for our members who earn minimum wage,” Moti said. (END)

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Pag-IBIG Fund releases record-high P44B home loans in H1 2021, up 113%

09

July
2021

Despite the pandemic, Pag-IBIG Fund achieved another record by releasing over P44 billion in home loans in the first half of 2021, top officials announced on Friday (July 9).

From January to June, the agency released home loans worth P44.34 billion - the highest amount ever released during the first half of the year - and more than double the P20.80 billion it released during the same period in 2020.

Read more.

Compared with the P37.07 billion released during the pre-pandemic period of January to June 2019, when strict community quarantines in Metro Manila and parts of Luzon had yet to be implemented, disbursement in the first half of 2021 is higher by nearly 20%.

“This is an indication that the number of Filipino workers who are able to become homeowners via the Pag-IBIG home loan programs continues to grow. In these tough times, we remain steadfast in our commitment to answer President Rodrigo Duterte’s call for government agencies to provide social benefits to more Filipinos,” said Secretary Eduardo D. del Rosario, who heads the Department of Human Settlements and Urban Development (DHSUD) and the 11-member Pag-IBIG Fund Board of Trustees.

Meanwhile, Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti said that the P44.34 billion released in the first half of 2021 enabled 43,573 members to acquire their own homes. Out of the total amount, P4.66 billion was released to finance the acquisition of socialized housing. Of the total number of members who benefited from the agency’s home loan programs in the first half of the year, 10,640 or 24% belong to the minimum-wage and low-income sectors.

He added that with its home loan disbursement reaching a record high over the past six months, he expects to exceed by yearend the P86.74 billion home loans released in 2019, which is the highest amount ever released by the agency in a single year.

"With the way things are going, I’m very optimistic that by the end of 2021, we will surpass the total home loan releases of 2019, which is our best year yet. The P44.34 billion disbursed is especially important because we achieved higher figures this year compared to the same period before the pandemic happened. On average, we released over P7 billion in home loans every month in the first half of the year. If this trend holds and succeeding monthly releases remain higher than usual, home loan releases by the end of the year will likely breach the P90 billion mark and may even reach P100 billion. This translates to another ‘best year ever’ for us and, more importantly, even more members having a home of their own where they can be safe as the health emergency continues,” Moti said (END)

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Pag-IBIG MP2, home loans hit record-high in Jan-Apr 2021

08

June
2021

Pag-IBIG Fund achieved milestones in the first four months of the year as members availed of its voluntary savings program and housing loan program in record numbers despite the ongoing health crisis, top officials of the agency said on Friday (June 04).

From January to April, members’ savings under the voluntary Modified Pag-IBIG 2 (MP2) Savings program reached P8.65 billion. On the other hand, home loans released during the period amounted to P27.39 billion, helping 27,041 members realize their dream of homeownership.

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"We are happy to report that we were able to achieve two ‘highest-ever’ numbers early on in 2021. The strong showing of our MP2 and housing loan programs is a testament to the trust of Filipino workers in Pag-IBIG Fund. Our members can rest assured that we will continue doing our best, so that we can provide them high earnings on their savings while maintaining the low interest on our loans. These are our contributions to the national government’s efforts towards economic recovery under the lead of President Duterte," said Secretary Eduardo D. del Rosario of the Department of Human Settlements and Urban Development (DHSUD) who also chairs the 11-member Pag-IBIG Fund Board of Trustees.

In 2020, members saved P13.3 billion in MP2, growing 11% from the previous year and setting the record for the highest amount saved in one year. Pag-IBIG Fund’s home loans also reached a record-high in December last year when the agency released P12.11 billion, which is the highest amount disbursed in a single month.

Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti expressed optimism that the agency’s strong performance will continue throughout the year, especially as the restrictions are being eased to help the economy. He noted that the phenomenal performance of its MP2 last year and the increasing amount of home loans released in the last quarter of 2020 continued until the beginning months of 2021. He said that even amid the ongoing health crisis, MP2 Savings collections in January to April grew 81% while home loan releases rose 64% compared to the same period in 2020.

"Even with the ongoing pandemic, the amount of home loans released and MP2 Savings collections for the first four months of 2021 are not only record-highs but are higher than what we achieved during the same period in 2019, prior to the pandemic. In the case of our MP2 alone, the amount our members voluntarily saved from January to April this year is already equivalent to two-thirds or 65% of the amount saved in MP2 for the whole year of 2020. We thank our members for their continued trust in Pag-IBIG Fund and in choosing to rely on us for their home financing and savings needs. These give us hope that, barring another black swan event, we are on our way to another best year in fulfilling our mandates to Filipino workers here and abroad," said Moti. (END)

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Pag-IBIG Fund grants 5,074 socialized home loans to low-wage earners in Q1 2021, up by 25%

22

April
2021

Pag-IBIG Fund granted socialized home loans to 5,074 members from the minimum-wage and low-income sectors totaling P2.2 billion in the first three months of 2021 despite the continuing pandemic, according to the top executives of the agency.

Socialized home loans make up about 25% of the 20,712 total number of loans financed by the agency in the first quarter of 2021. The amount, meanwhile, is equivalent to 11% of the P20.94 billion it disbursed. Amid the health crisis, the number of socialized home loans granted grew by 25% from the 4,045 loans extended during the same period last year, while the amount increased by 34%.

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“In the wake of the pandemic, Pag-IBIG Fund’s Affordable Housing Program has become the means for minimum-wage and other low-income workers to achieve their dream of homeownership. The program’s lowest rates and longest term allow them make buying a home within their reach. Offering affordable home financing to our members is our way of adhering to President Rodrigo Roa Duterte’s directive to government institutions to provide programs that serve the needs of the underserved sector, especially during these challenging times,” said Secretary Eduardo D. del Rosario, Chairperson of the Department of Human Settlements and Urban Development (DHSUD) and the 11-member Pag-IBIG Fund Board of Trustees.

With Pag-IBIG Fund’s Affordable Housing Program (AHP), members can borrow up to P580,000 to buy socialized house and lot packages, or up to P750,000 for socialized condominium units at a special rate of 3% per annum.

The AHP is specifically made for members earning not more than P15,000 per month within the National Capital Region, and not more than P12,000 per month for members outside of NCR, who intend to buy socialized housing units. This loan program also features a 100% loan-to-value ratio allowing borrowers to purchase homes without spending for equity.

Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti said the agency has been offering the special 3% rate under the AHP since May 2017 and has kept the subsidized rate since, thanks to Pag-IBIG Fund’s tax-exempt status provided under Republic Act No. 9679.

“Because of our Charter, Pag-IBIG Fund can afford to offer the lowest rates for home loans of minimum and low-wage workers. And, with President Duterte recently signing into law the CREATE bill, the tax-exempt status of Pag-IBIG Fund has been maintained. What this means to our members from the minimum-wage and low-income sectors is that they can continue to enjoy these lowest rates. To put things into perspective, with our Affordable Housing Program, qualified borrowers will only pay around P2,445 per month for a home loan worth P580,000 - which is almost equivalent to the price of rent. This low amortization allows more of our members to gain homeownership, as we recognize that the home is the safest place to be during these difficult times. We look forward to helping more low-income members become homeowners in the months to come,” said Moti. (END)

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Pag-IBIG Fund home loan releases reach P20.94B in Q1 2021; up 33% despite pandemic

13

April
2021

Pag-IBIG Fund released P20.94 billion in home loans in the first quarter of 2021 despite the pandemic, an increase of 33% or P5.17 billion compared to the P15.77 billion released during the same period in 2020, its top officials announced Tuesday (April 13).

“We are happy to report that our home loan releases in the first three months of 2021 have increased compared to the same period last year. This increase in our home loan releases means that more Filipino workers are being helped by Pag-IBIG Fund to secure their own homes, which is very important at this time of pandemic. We recognize the role we play in helping keep our members safe in their own homes, as we heed President Rodrigo Duterte’s call for government agencies to provide social benefits to more Filipinos, especially during these challenging times,” said Secretary Eduardo D. del Rosario, who heads the Department of Human Settlements and Urban Development and the 11-member Pag-IBIG Fund Board of Trustees.

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Del Rosario added that the P20.94 billion in home loans during the first quarter of the year enabled 20,712 members to acquire their own homes. Out of the total amount, P2.2 billion were released as socialized home loans for the benefit of 5,074 Pag-IBIG Fund members belonging to the minimum-wage and low-income sectors.

Meanwhile, Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti noted that even if measured against the period prior to the implementation of community quarantines, there was still an increase in home loans. The agency released P15.49 billion in home loans from January 1 to March 15 this year, an increase of P546.97 million or 3.7% from the P14.94 billion released in the same period in 2020 when strict community quarantines in Metro Manila and other parts of Luzon were yet to be implemented. He further expressed optimism that the numbers will continue to rise, especially as the economy continues to reopen.

“From September to December last year, our home loan releases were close to ‘pre-pandemic’ levels. We released more than P6 billion to P7 billion in home loans every month during those months, with December loan releases reaching P12 billion - the highest amount released for a single month in PagIBIG Fund’s history. We are glad that our momentum in the last quarter of 2020 carried over to first quarter of 2021, despite the challenges caused by the pandemic. In fact, home loan releases in the first quarter of 2021 is 22% higher compared to our loan releases in the first quarter of 2019, which eventually turned out as our best year ever when annual home loan releases amounted to P86.7 billion. We anticipate that our momentum will continue in the succeeding quarters, barring any major catastrophic event, so we help more members become homeowners,” Moti said. (END)

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UPDATE as of 20 May 2021: Following the recommendation of the Commission on Audit (COA), adjustments have been made to select figures to reflect more accurately the financial status of Pag-IBIG Fund. For 2020, the agency’s net income increased from the earlier reported P31.18 billion to P31.70 billion. Dividend rates, meanwhile, remain at 5.62% per annum for Regular Savings and 6.12% per annum for MP2 Savings. Dividend declaration have also been adjusted to 92.15% - still the highest on record. With these adjustments, the agency’s Capital Adequacy Ratio improved to 15.11%.

Pag-IBIG posts P31.18B net income in 2020; Members earn 5.62% dividend rate on Regular Savings, 6.12% on MP2

03

March
2021

Pag-IBIG Fund posted a net income of over P30 billion in 2020 for the fourth consecutive year despite the economic slowdown caused by the pandemic, its top executives announced during the 2020 Pag-IBIG Fund Chairman’s Report held online Wednesday (March 03).

“I’m happy to report that our net income reached P31.18 billion last year, marking the fourth consecutive year that Pag-IBIG Fund’s net income surpassed the P30-billion mark. Pag-IBIG Fund’s strong showing despite the pandemic is a testament of how well the Filipino workers’ fund is managed. And, as we continue to support the call of President Rodrigo Duterte for government agencies to provide more social benefits to more Filipinos, we are giving back P29.40 billion, around 94% of our net income, to members in the form of dividends,” said Secretary Eduardo D. del Rosario who heads the Department of Human Settlements and Urban Development and the 11-member Pag-IBIG Fund Board of Trustees.

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Under Pag-IBIG Fund’s charter, the agency is required to declare at least 70% of its annual net income as dividends which shall be credited proportionately to its members’ savings. However, the Pag-IBIG Fund Board approved to declare 93.68% of its earnings – more than what its charter requires and the highest in the agency’s history– to extend the most benefit to its members especially during these difficult times, del Rosario added.

With this move by its board, del Rosario also stated that members will enjoy a higher-than-expected return on their Pag-IBIG savings. He said that the year 2020 dividend rate for the Pag-IBIG Regular Savings shall be at 5.62%, while the Modified Pag-IBIG 2 (MP2) Savings shall be at 6.12%.

“Again, we have achieved yet another ‘highest ever’ in 2020. With dividends payout set at 93.68% of our P31.38 billion net income exclusive of net foreign exchange loss, it’s the highest dividend payout ratio in Pag-IBIG’s history. It’s also the highest dividend payout ratio our Pag-IBIG Fund Board can declare while still maintaining our target Capital Adequacy Ratio. Considering the challenges that we faced last year, achieving over P31 billion in net income is an achievement in itself. With such earnings and the dividend approval by our Board, we are extending the most benefit to our members without risking the strong financial standing of the Fund, especially during these difficult times,” said Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti.

According to Moti, Pag-IBIG Fund maintains a Capital Adequacy Ratio (CAR) of 15%, which is higher than the 10% threshold set by the Bangko Sentral ng Pilipinas (BSP) for the banking industry. Even if Pag-IBIG is not regulated by the BSP, Moti said that the agency voluntarily maintains a high CAR which includes a buffer to account for current economic challenges, to protect the funds of its members and to maintain the agency’s financial stability.

He also thanked borrowers who continued to pay their loans last year, despite the economic slowdown. In 2020, home loan payments reached P46.65 billion, while cash loan payments totaled P56.17 billion enabling the agency maintain its strong fiscal position.

“We would like to thank our borrowers for continuously honoring their loan obligations despite the pandemic. The strong financial standing of Pag-IBIG is a good sign because this allows us to continue funding our members’ home loans and cash loans, especially now when these are needed the most. By fulfilling their obligations, they are helping Pag-IBIG Fund bring needed service to other members, while continuing to stimulate the housing industry and the economy. As we brave the months ahead, we assure our members and stakeholders that we will remain a reliable institution that they can count on, which is what we have been doing every year in the last 40 years,” Moti added. (END)

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Pag-IBIG Fund finances homes of 16,975 low-wage workers in 2020

12

February
2021

Pag-IBIG Fund financed socialized housing loans of 16,975 members belonging to the minimum-wage and low-income sectors in 2020 despite the pandemic, its top executives said on Thursday (February 11).

Socialized housing loans represent 27% of the 63,750 units financed by the agency, and amount to P7.18 billion out of the P63.75 billion in total housing loans it released last year.

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“Pag-IBIG Fund’s Affordable Housing Loan Program offers the lowest rate and longest term for minimum and low-wage workers. Even as the pandemic posed numerous challenges last year, we were still able to provide many of our workers belonging to this sector the means to acquire their own homes, under the most affordable terms. This is our way of adhering to President Rodrigo Roa Duterte’s directive to government institutions to provide programs that serve the needs of the underserved sector,” said Secretary Eduardo D. del Rosario, Chairperson of the Department of Human Settlements and Urban Development (DHSUD) and the 11-member Pag-IBIG Fund Board of Trustees.

Pag-IBIG Fund’s Affordable Housing Program offers a subsidized rate of 3% per annum for members earning not more than P15,000 per month within the National Capital Region, and not more than Php 12,000 per month for members outside of NCR, who will buy socialized housing units. Under the program, members can borrow up to PHP 580,000 to buy socialized houses, or up to PHP 750,000 for socialized condominium units, at 3% per annum, a special rate provided to minimum and low-wage workers since May 2017.

The loan program also features a 100% loan-to-value ratio allowing borrowers to enjoy equity-free purchase of housing units.

According to Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti, the agency is able to keep offering the lowest interest rate in the market because of its tax-exempt status provided under Republic Act No. 9679.

“Pag-IBIG Fund is able to subsidize the low interest rate that minimum and low-wage workers enjoy under our Affordable Housing Loan Program being a tax-exempt agency, as prescribed under our charter. We are happy that the new CREATE bill seeks to continue to preserve this tax-exempt status of Pag-IBIG Fund, and thus allow us to continue offering these subsidized rates. We are grateful to our lawmakers who share our vision to make homeownership attainable, especially for the underserved sector. And, as we continue to face challenges imposed by the pandemic, we shall continue doing our best to help more low-income workers secure their own homes where they can be safe,” said Moti. (END)

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Pag-IBIG home loan releases hit record-high P12.11B in December amid the pandemic

28

January
2021

Pag-IBIG Fund home loan releases hit a record-high in December as disbursement reached P12.11 billion despite the economic downturn caused by the Covid-19 pandemic, top officials of the agency announced on Wednesday (Jan. 27). This amount is P640 million higher, or a six percent increase, from the previous record of P11.47B that was set in December 2019.

“Our home loan takeouts in December is the highest for a single month in Pag-IBIG Fund’s history. Because of it, we were able to finance the acquisition of 12,275 homes for our members in December alone, which is also a record-high. Amid the challenges, Pag-IBIG has provided homes to more members during the pandemic, aiding in the government’s efforts led by President Duterte, to keep Filipino families safe at home,” said Secretary Eduardo D. del Rosario, who heads both the Department of Human Settlements and Urban Development (DHSUD), and the 11-member Pag-IBIG Fund Board of Trustees.

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For year 2020, Pag-IBIG Fund released P63.75 billion in home loans allowing 63,750 members to acquire their own homes. Out of the total amount, 11 percent or P7.1 billion were released as socialized home loans for the benefit of 16,975 Pag-IBIG Fund members who belong to the minimum-wage and low-income sectors, del Rosario added.

Meanwhile, Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti expressed optimism that the numbers will continue to rise especially as the economy has reopened.

“From September to December, our home loan releases were close to ‘pre-pandemic’ levels. We released more than P6 billion to P7 billion in home loans every month, reaching its peak in December when releases reached over P12 billion. The year 2020 may not have been record-breaking in terms of numbers, but it was a story of grit and resiliency as we were able to bounce back quickly,” Moti said.

He said that Pag-IBIG Fund was poised to achieve another milestone year in 2020 as the combined home loan releases in January and February amounted to P12 billion, growing 17 percent compared to the same period in 2019. But as expected, home loan numbers started to decline in March when strict community quarantine measures were imposed to curb the spread of Covid-19. Home loan releases dipped to P3.8 billion in March and P883 million in April. But, as restrictions were eased, home loan figures started to recover in as early as May when disbursements jumped to P1.2 billion and rose even higher to P2.9 billion in June. Loan releases continued to climb in the second half of 2020. And by the end of the third quarter, home loan releases had already recovered.

“Looking at the bigger picture, the improvement in numbers does not only mean increased homeownership among Filipinos. It also means that Pag-IBIG Fund is able to take part in ensuring the safety of our members and their families, especially during this time of a pandemic. Rest assured that as 2021 unfolds, we will continue to be our members’ reliable partner as we all journey to full recovery,” Moti added.

In total, Pag-IBIG Fund approved P84.53 billion in home loans to finance the acquisition of 80,748 homes last year. Of this, the amount of P20.78 billion represents approved home loan applications pending for release, the proceeds of which are ready for disbursement upon submission by borrowers of post-approval requirements.

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Pag-IBIG Fund members save record-high P13.3B in MP2 amid pandemic, up 11% in 2020

20

January
2021

Despite the uncertainties caused by Covid-19 last year, Pag-IBIG Fund members turned to the agency’s MP2 Savings and collectively saved over P13 billion, setting a new record for the amount saved voluntarily by members under the program in a single year.

“We are happy to report that despite the impact of the pandemic to our economy last year, the amount saved by our members in the Pag-IBIG MP2 Savings last year surpassed P13 billion. This is the highest-ever amount saved by our members in the program so far. This shows the significant trust that our members have in Pag-IBIG Fund, that we shall manage their hard-earned peso prudently. This will also go a long way in helping us serve more members by providing funds for their home loans and cash loans, all in line with President Rodrigo Roa Duterte’s directive to help uplift the lives of more Filipinos especially during these difficult times,” said Secretary Eduardo D. del Rosario, Chairperson of the Department of Human Settlements and Urban Development and the 11-member Pag-IBIG Fund Board of Trustees.

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He said that as of 2020, a total of 338,248 members currently save in the MP2 Savings. “These members saved, on average, P3,270 per month in their MP2 Savings last year. This means that it’s the typical Filipino worker who’s diligently saving and entrusting their hard-earned money with Pag-IBIG Fund,” del Rosario added.

The MP2 Savings is Pag-IBIG Fund’s voluntary savings program that has a 5-year maturity period and a minimum savings requirement of only P500. Made available to members in 2010, the savings program has seen phenomenal growth over the last 5 years, mainly due to the higher dividends it offers compared to the agency’s Regular Savings program. The agency expects to declare the MP2 Savings dividend rate for 2020 within the first quarter of the year.

“The continued growth of our MP2 Savings program is remarkable. It was only in 2017 when collections from our MP2 Savings surpassed the P1 billion-mark, which was then a historic feat. And by the end of 2020, in a span of just three years, MP2 Savings has now reached P13.28 billion. This surpasses the previous record-high of P12.01 billion saved by our members in 2019, achieving an 11% growth amid the pandemic. We thank our members for their continued support and enduring trust that despite the challenging times, they opted to save voluntarily in our MP2 Savings Program. That is why they can expect nothing less than our Lingkod Pag-IBIG brand of service, Tapat na Serbisyo, Mula sa Puso, from us,” said Pag-IBIG Fund CEO Acmad Rizaldy P. Moti. (END)

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