Since the introduction of the Pag-IBIG Fund Law of 2009 (Republic Act 9679), everyone, including overseas Filipino workers, are entitled by law to be members of the government housing fund. The main objective of the Pag-IBIG Fund is to provide affordable home options to Filipinos via a savings initiative.
How much should I pay for my Pag-IBIG Monthly Savings?
The answer to this question depends on your current employment status. The maximum compensation that is being used by both Home Development Mutual Fund (HDMF) and your company (if currently employed) is set at P5,000. This means that at a 2% employee share rate, the minimum amount you can pay per month is P100.
Pag-IBIG members are always encouraged to pay more than what is required. For those who are eyeing to buy a home in the near future, the value of the payments you have made for 24 months will be used as a basis for HDMF to determine whether to grant you a higher loan amount. Members can avail a maximum amount of P6 million for a home loan through Pag-IBIG.
To service the needs of its 13.8 million members, HDMF has increased the number of ways to pay your Pag-IBIG monthly savings or your amortization payments for an existing home or multi-purpose loan.
1. Through your company
A Philippine-registered company by law is required to remit the Pag-IBIG contribution of an employee. Your Pag-IBIG monthly savings will be deducted along with other government contributions from your gross basic salary. If you wish to increase your monthly savings, you will need to fill out a form one-time only for your human resources or payroll department to process your request.
If you are self-employed, or if there’s any reason that your employer has failed to pay your monthly savings, you may opt for the following payment options:
2. Through a Pag-IBIG branch
Pag-IBIG members can pay their monthly contributions via a nearby HDMF branch. There are three HDMF offices in Makati. The Housing Loans department is located at HDMF’s Ortigas branch, while Pag-IBIG claims department has an office at the 7th floor of SM Aura Office Tower.
3. Bayad Center
There are hundreds of Bayad Centers in Metro Manila that accept Pag-IBIG and other government contributions. For monthly contributions, your membership identification number (MID) / registration tracking number (RTN) will serve as your account number.
If you will be paying for your housing amortization, you will need to have your housing loan monthly billing statement or the SMS reminder to fill out the payment details. Keep the receipt issued by the Bayad Center outlet, as it will serve as your Pag-IBIG fund receipt (PFR).
4. SM Business Center
The SM Business Center is the bills and customer service arm of SM Supermalls. These are usually found on the same floor where the SM Supermarket is located. This is convenient for customers who needs to pay bills and shop for groceries all in one go.
5. Credit Card
You can make payments using your Visa or Mastercard via HDMF’s online payment facility. This can also work with debit cards as long as there are sufficient funds to make the payment. A minimum convenience fee of P7.20 will be charged for the monthly payment.
6. Globe G-Cash
Globe is the first company in the Philippines that offers Pag-IBIG members a way to pay their monthly contributions or housing loan amortizations just about anywhere in the country. By dialing *143# on your mobile phone, select Pay Bills, and then the Government option to enter your MID number to make your payments. Make sure that the details on your G-Cash account is the same as on the information registered on your MID number. You will receive an SMS notification from Globe once the transaction went through.
Metrobank only accepts payments for your home loan amortization with Pag-IBIG. For monthly contributions and loan amortizations on your short-term loans, Pag-IBIG members can make payments via Union Bank, BPI and Land Bank’s Internet banking facilities: Union Bank One Hub, BPI ExpressLink, and Land Bank wePayAccess.
8. Overseas Remittances
Recently, HDMF saw the need to address the concerns of overseas Filipinos workers (OFWs) who are unable to make periodic monthly payments. OFWs are now given the option to make annual payments of P1,200 to cover the 12 months in advance, in place of making monthly contributions. According to the overseas accounts department of HDMF-POEA (Philippine Overseas Employment Administration), family members and loved ones of OFWs can also pay for the latter’s contributions on their behalf.
Should OFWs prefer to make the contributions themselves, they can do so via the following payment channels:
- Money Remittance Services
After making payments to third-party services, you are encouraged to check your remittances online. You can check your updated contributions via HDMF’s E-Services portal. OFWs have a special verification tab where you can key in your your MID number, along your first and last name to check your updated contributions.
HDMF said that the posting of the payments are usually dependent on when third-party services will submit payments to the agency. You may want to wait for at least 2-3 business days for the payment to be reflected on your Pag-IBIG account. For instances that there is a discrepancy with your actual payments to your updated contributions, it is best to raise this issue with the third party service first before HDMF. You can also call the Overseas Accounts department based in Makati at landline numbers 892-0643, 723-7599 or trunkline 812-4731.
Do you have questions about paying your Pag-IBIG contributions that we have left unanswered? Please let us know by leaving a comment below.