Who should register with the Pag-IBIG Fund as members?
With the signing of Republic Act No. 9679, effective January 1, 2010 membership to the Fund shall be mandatory for the following:
•All employees, workers, professionals, officers and companies who are compulsorily covered by the SSS and GSIS
•Uniformed members of the Armed Forces of the Philippines, the Bureau of Fire Protection, the Bureau of Jail Management and Penology, and the Philippine National Police
•All members of the judiciary and constitutional commissions
•Overseas Filipino Workers (OFWs)
•Filipinos employed by foreign-based employers, whether deployed locally or abroad.
How much is the Pag-IBIG contribution?
The initial monthly contribution usually ranges around P200 (depending on the country and exchange rate). The peso equivalent at the time of payment will apply and credited to the member’s account.
What are the benefits of being a member of the Pag-IBIG Fund?
A Pag-IBIG member will enjoy the following benefits:
Savings
The contributions that an OFW member makes are credited to his Total Accumulated Value (TAV) or savings which are fully guaranteed by the national government. The member’s savings earn annual dividends that are tax-free. The dividend rate varies depending on the net income of the Fund at yearend. For 2009 Pag-IBIG declared P8.5 billion in total dividends giving members a dividend rate of 5% on their savings. Pag-IBIG savings are also portable, meaning, these remain in the name of a member even if he transfers employers, works abroad or becomes self-employed or even unemployed.
Short-Term Loan
A member is entitled to borrow short-term loans offered by the Fund to help address immediate financial needs.
Housing Loan
A member of good standing may avail of a Pag-IBIG home financing loan from the Fund with some of the lowest interest rates in the market, and repayment terms of up to 30 years. Pag-IBIG housing loans offer low monthly amortizations, making it possible for even low-salary employees to benefit from the program.
When can a Pag-IBIG member registered under the Mandatory Coverage (Pag-IBIG 1), withdraw his/her contributions?
A member may claim his Total Accumulated Value (TAV) after 20 years of membership with the Fund and after having made a total of 240 monthly contributions. A member may also withdraw his savings before the 20-year maturity under these valid grounds:
•Retirement
•Permanent departure from the country
•Permanent or total physical disability
•Insanity
•Death of the member
•Termination from service by reason of health
•Optional withdrawal after 10 or 15 years of continuous contributions
What are the requirements to become a Pag-IBIG 1 member?
1.Filled up Members Registration Form (MRF)
2.Present original or photocopy of Philippine Passport / NRIC / E Pass / S Pass / Work Permit
What proof should the Pag-IBIG 1 member bring on applying for OEC?
1.Valid Pag-IBIG Fund receipt or
2.Latest Pag-IBIG payment made to our accredited remittance center / banks.
Note: Member must have a payment for the past six (6) months.
How can OFWs register under the Mandatory Coverage (Pag-IBIG 1)?
OFWS may register through the Pag-IBIG desks located at the respective Philippine Embassies
Source: Pag-ibig Fund Philippines (http://www.pagibigfund.gov.ph/)
News keeps us informed of what is taking place around us. It tells us of political events, extraordinary and the ordinary important events. Even the advertisements have their value. In the world today, reading the news is essential and necessary.
Newspapers give us deeper in sight into the event. With newspapers you can choose to spend a few minutes or a few hours reading repeatedly a piece of news, unlike television.
Reading motivates the drive to know what happens next, to want to turn the page, the need to keep going. So it forces us to learn new words, to think new thoughts. In addition, it also builds empathy.
Reading the news is like gaining insider access to current information about the world we live in today. It records events that happen. It is important and interesting to read about developments and progress that are being made from day to day in the affairs of your country or in the affairs to the world. Thus, reading a newspaper makes us fit to participate in our society. It also helps develop an educated mind, informed judgment, and critical understanding.
It has been said that to read is to fly and it is to soar to a point of vantage which gives a view over wide terrains of history, human variety, ideas, shared experience and the fruits of many inquiries. Reading is a particular exercise that not only gives an insight to the world around, but gives us an inner comfort. When we read a particular news, we start identifying ourselves with situations and those around us. By reading, we are actually viewing a reflection of our society. In the fast paced modern world of today, it has become very important to be updated. Newspaper is a great way of keeping ourselves updated. Newspapers remain the most invaluable source of news and information, despite the different forms of the electronic media.
Reading news also inadvertently improves one’s language skills. News items and articles are written to express and communicate, thus precision and meticulous use of words and expressions are used. As a result, a person will absorb these language and style details while going through news items and articles, as well as sharpen communication skills in reading and writing. Consequently, comprehension skills are enhanced. The more one reads, new words and expressions reveal their meaning to the reader’s mind. Unconsciously, our vocabulary is enhanced and the language ability improves, becoming more expressive and fluent.
<!--[endif]-->
