Withdrawal of Pag-IBIG savings is allowed upon occurrence of any of the following :

• Membership maturity after 20 years
  • A member who signs up under RA 7742 (Pag-IBIG Universal Coverage Law) shall be allowed partial withdrawal after 10 or 15 years of continuous membership, provided he has no outstanding housing loan with the Fund.
• Retirement
  • at age 45 (early retirement plan)
  • at age 60 (optional retirement)
  • at age 65 (mandatory retirement)
• Permanent departure from the country.
• Permanent total physical disability/insanity.
• Termination from service by reason of health.
• Death of the member

   In case of the member's death, the Fund provides the legal heirs an additional P6,000 death benefit grant (DBG).

Membership maturity is one of the grounds for withdrawal of the member's provident benefit from Pag-IBIG Fund. It refers to the end of the 20 year-period of membership with Pag-IBIG, when the member has completed 240 monthly contributions.

All Pag-IBIG members who have completed 20 years of membership, starting from the month that they made their initial contribution, and who have made a total of 240 monthly contributions at the time of maturity may claim their provident savings from Pag-IBIG.

At the same time, members with gaps in their membership due to value suspensions of their contributions are also qualified to withdraw their savings. The valid reasons for suspension are: unemployment due to termination, resignation, suspension, company closure, or health reasons; leave without pay, approved waiver/suspension of Pag-IBIG coverage: and suspension of Pag-IBIG contributions from by Pres. Cory Aquino from May to July 1986.

Each member will receive an amount equivalent to his total personal contributions, employer counterpart shares (if any) and credited dividends.

However, the balance of his loans from Pag-IBIG (if any) shall be deducted from the proceeds of his provident benefit.

The procedure is as follows:

1. An employed member shall file his application for provident benefits through his Fund Coordinator or employer upon completing 240 monthly contributions.

   Self-employed members may file their applications to the Pag-IBIG office where they remit their monthly contribution; while unemployed members may file their applications to the Pag-IBIG office nearest them.

2. Pag-IBIG shall notify the member when his provident savings benefit is ready for payment.

Pag-IBIG shall process applications for provident benefits which are supported by all the required documents within 22 working days.

A member shall be paid his provident benefits through the Cash Division of the concerned Pag-IBIG branch/regional office or thru the member's employer.

Yes, if the member is still employed as Republic Act 7742 mandates, all members of SSS and GSIS who are earning at least P4,000 a month must register with Pag-IBIG.

After a member shall have claimed his provident benefits, any and all contributions he shall remit to Pag-IBIG thereafter shall constitute his second membership.

Thus, his second membership shall start with the first contribution he remits to Pag-IBIG after he claims his provident savings due to the maturity of his membership.

You can renew your MPL six (6) months after your last MPL Disbursement Voucher date and after payment of at least 25% or six (6) months amortization payments.

No, unless you'll be paying your MPL in full. Regular MPL amortizations should be paid through salary deduction. Over-the-counter payment is allowed only upon occurrence of any of the following:

•     1. Separtion of the meber from service
•     2. Suspension from work
•     3. On leave without pay
•     4. Insufficient net take home pay

By TAV offsetting, portion of your savings has been taken out to pay off your outstanding MPL balance. This constitutes partial withdrawal of your savings just like maturity or age 60 claim. Once savings is withdrawn, loan availment will be 2 years from date of withdrawal or offsetting. However, you may avail of an MPL anytime after offsetting provided you pay or replenish the total amount deducted from your savings.

The Multi Purpose Loan (MPL) Program provides immediate assistance to Pag-IBIG members who have made at least 24 monthly membership contributions which they can use to finance medical, educational, livelihood, minor home improvement, purchase of appliance and furniture, and other related need.

Under the program, up t to 60 percent of the member's total savings is extended, with interest rate pegged at 10.75 percent per annum. MPLs may be renewed upon payment of at least six(6) amortizations.

So long as you are still employed and mandatorily covered then you continue your contributions. However, if you have an outstanding housing loan, you should continue paying contributions.

Your contributions will remain with the Fund and will continue to earn dividends until such time you are qualified to withdraw it upon occurrence of any of the grounds for withdrawal. However, in the event that you will be employed again, your savings under the previous employer will be merged to your contributions under your current employer unless you opt to continue paying contributions under the Individual Payor category.

Mandatory

With the signing of Republic Act No. 7742 all SSS and GSIS members earning P4,000 and above monthly are mandatorily covered by Pag-IBIG fund.

Voluntary

Membership to the fund is also open to:

• Private and government workers earning less than P 4,000 a month but who wish to join anyway;
• Self-Employed workers such as professionals and businessmen;
• Overseas contract workers (OCW);
• Residents and immigrants in the United Staes and Canada;
• Informal income group such as cooperative members;
• Non-working spouses.

For employees with monthly compensation (Basic+COLA) of P1,500 and less, an amount equivalent to one percent (1%) of their monthly compensation, and two percent (2%) of the monthly compensation of employees earning over P1,500.

1. Over P1,500 , an amount equivalent to two percent (2%) of the monthly compensation of each covered employee.
2. Employers are mandated to match their employees' monthly contributions with an amount equivalent to two percent (2%) of the monthly compensation of each covered employee.
3. For self-employed members, monthly contribution is equivalent to two percent(2%) of their monthly gross earnings.
4. Under the Pag-IBIG Overseas Program (POP) ,OFWs with monthly compensation of:
5. US $1,000 or less shall contribute US$20 or its peso equivalent monthly.

• Over US $1,000 , monthly contribution of US $40 or its peso equivalent.
• C$1,500 or less, monthly contribution of US $40 or its peso equivalent.
• Over C$1,500 a month. monthly contribution of C$60 or its peso equivalent.

The Fund offers its members the following benefits:

1. Savings
2. Short term loan
3. Housing loan

The Pag-IBIG provident savings program is a fast, easy and affordable way of saving for a member's future needs.

Pag-IBIG savings enjoy the following features:

• double or triple your money benefit
• tax-free dividend earnings
• portability of savings
• government-guaranteed

Yes. Pag-IBIG Fund Membership is Mandatory. With the signing of Republic Act No. 7742 all SSS and GSIS members earning P4,000 and above monthly are mandatorily covered by Pag-IBIG fund.

Membership to the fund is also open to the following individuals under Voluntary, to wit:

• Private and government workers earning less than P 4,000 a month but who wish to join anyway;
• Self-Employed workers such as professionals and businessmen;
• Overseas contract workers (OCW);
• Residents and immigrants in the United Staes and Canada;
• Informal income group such as cooperative members;
• Non-working spouses.

Settle your account in full. You may avail of our loan restructuring program or apply for a multi-purpose loan to pay your account.

The Pag-IBIG Abot-Kamay Pabahay Program shall bear interest at the following rates per annum:

            Loan Amount                                 Interest rate

            Up to P300,000                                       6%

            Over P300,000 to P750,000                    7%

            Over P750,000 to P2,000,000               10.5%

Such interest rate shall accrue on the basis of 365-day actual days elapsed.

Pag-IBIG members must satisfy the following requirements to qualify for a housing loan:

• Must be a member under the Pag-IBIG I, Pag-IBIG II or Pag-IBIG Overseas Program (POP) for at least twenty-four (24) months, as evidenced by the remittance of at least 24 monthly contributions at the time of loan application.

• A member, whether new or with existing monthly contributions that are still short of the 24-month membership requirement, shall be allowed to make lump sum  payment based on the mandatory monthly membership contribution rates (both EE and ER share) to meet said requirement at point of loan application. Lump sum payment of membership contributions shall be considered a single contribution for the applicable month as of the payment date.

• Said member shall be required to pay the upgraded membership contribution rates upon housing loan approval and onwards.

• A member who has contributed for at least two (2) years shall be required to pay the upgraded contribution rates upon housing loan approval  and onwards.

• For purposes of satisfying the residency requirement, the period corresponding to the Total Accumulated Value (TAV) applied earlier to a member’s outstanding loan (offsetting) shall be considered when counting the total number of monthly contributions, provided that the remaining TAV after offsetting does not fall below the equivalent amount of 24 monthly contributions.

• Not more than sixty-five (65) years old at the date of loan application and must be insurable; provided further that he/she is not more than seventy (70)  years old at loan maturity;

• Has the legal capacity to acquire and encumber real property;

• Has passed satisfactory background/credit and employment/ business checks of the developer and Pag-IBIG Fund;

• Has no outstanding Pag-IBIG housing loan, either as a principal borrower or co-borrower;

• Had no Pag-IBIG housing loan that was foreclosed, cancelled, bought back, or subjected to dacion en pago;

• Has no outstanding Pag-IBIG multi-purpose loan in arrears at the time of loan application. A member whose multi-purpose loan is in arrears shall be required to pay his arrearages over the counter to update his account.

The Housing Loan Program extends assistance to individual borrowers to finance any or a combination of the following:

• Purchase of a fully developed lot not exceeding one thousand (1,000) square meters which should be within a residential area;
• Purchase of a lot and construction of a house thereon.
• Purchase of a residential house and lot, townhouse or condominium unit, inclusive of a parking slot, which may be:

-old or brand new;

-a property mortgaged with the Fund; or

-an acquired asset which is disposed of through sealed public bidding, negotiated sale or Rent to Own program

• Construction or completion of a residential unit in a lot owned by the member;
• Home improvement;
• Refinancing of an existing mortgage loan with an institution acceptable to the Fund, provided that:

- the loan to be refinanced is current and updated at the time of loan application;
and

- the account reflects a perfect repayment history for at least two years, as supported by the borrower's official receipts

• Combination of loan purposes shall be limited to the following:

-Purchase of a fully developed lot not exceeding 1,000 sq.m. and construction of a residential unit thereon

-Purchase of a residential unit, whether old or new, with home improvement;

-Refinancing of an existing mortgage with home improvement or

-Refinancing of an existing mortgage, specifically a lot loan with construction of a residential unit thereon.

1. Attend a Loan Counseling session at the Pag-IBIG Office concerned

Accomplish a Preliminary Loan Counseling Questionnaire, Husing Loan Application (HLA) and Membership Status Verification Slip. If eligible, secure checklist of requirements.

1. Submit HLA with complete requirements. Pay a processing fee of P1,000.00 (non-refundable)
2. Receive Notice of Approval/Letter of Guaranty and sign loan documents.
3. Proceed to BIR and present Deed of Absolute Sale (DOAS) between owner of the property and applicant for payment of documentary stamps and capital gains tax.
4. Proceed to Registry of Deeds (RD) for payment of transfer of tax and registration fees for the transfer of title.
5. Proceed to Notary Public for notarization of LMA and annotation of mortgage with the Registry of Deeds (RD) and to Assessor's Office to secure new tax declaration in the name of the applicant.
6. Secure Occupancy Permit from the Local Government Unit's (LGU) Engineering Office for Purchase of new Residential Unit (PRU), Purchase of Lot and Construction of a New Residential Unit (PLCH) and Construction of House (CH) loan purposes.
7. Submit the following documents to Pag-IBIG office concerned:
   • Original Transfer Certificate of Title in the name of the applicant with annotated mortgage
   • DOAS with original RD stamp
   • New Tax Declaration in the name of the applicant
   • Updated Real Estate Tax Receipt (house and lot, if applicable)
   • Occupancy Permit
   • Assignment of Loan Proceeds
8. Release of loan proceeds
9. Start monthly amortization on the month immediately following loan take-out/final loan release.

Being a promotional offer, MPDB offers bigger discounts that can reach up to 25% Moreso, if acquisition is thru a Pag-IBIG Housing Loan, the interest rate is pegged at 6% regardless of loan amount. However, implementation is only up to October, 2007, unless extended. In the RTO Program, maximum discount upon purchase is only 5% However, the rental payments made shall be applied as partial payment on the purchase price. If purchase is thru housing loan, the interest rate will be the prevailing interest rate of the Pag-IBIG housing loan program.

·  Must be a member under the Pag-IBIG I or Pag-IBIG II program for at least 24 months as evidenced by the remittance of at least 24 monthly contributions at the time of loan application:

·  Must be a member under the Pag-IBIG Overseas Program (POP) for at least two years

·  A member under Pag-IBIG I & II or the POP shall be allowed to make a lump sum payment equivalent to the required number of monthly contributions to satisfy this requirement;

·  Under the Pag-IBIG Overseas Program (POP), must have remitted an amount equivalent to his savings for at least 12 months.

·  Must not be more than 65 years old at loan maturity and must be insurable;

·  Must have the legal capacity to acquire and encumber real property;

·  Must have passed satisfactory background/credit and employment/business checks of the developer and the Fund;

·  Had no Pag-IBIG housing loan that was foreclosed, cancelled, bought back or subjected to "dacion en pago"

·  Must have no outstanding Pag-IBIG housing loan, either as a principal borrower or co-borrower; and

·  Has no outstanding Pag-IBIG multi-purpose loan in arrears at the time of loan application. A member whose multi-purpose loan is in arrears shall be required to pay his arrears over the counter to update his account.