Pag-IBIG Deputy Chief Executive Officer Hilario Aguilar said on Thursday, January 18, that the new monthly contribution rates of members will result to an additional Php 38 billion for the state-run fund.
"Yung Php 38 billion na karagdagan na ma-accumulate natin sa increase na ito ay magpapalakas ng doble sa Pag-IBIG sa kanyang kakayahan na magpahiram," Aguilar assured during the Bagong Pilipinas Ngayon press briefing.
Aguilar said that the additional funds will also allow Pag-IBIG to maintain low interest rates.
The Pag-IBIG official added that the Php 38 billion will also assist in the completion of housing facilities under the Pambansang Pabahay Para sa Pamilyang Pilipino (4PH) program of the government.
"Inaasahan natin na kapag nakatayo na yung mga condominium, yung mga high-rise housing facilities, tataas ang bilang ng mga miyembro natin na hihiram sa Pag-IBIG para bumili ng mga unit na itatayo natin," Aguilar explained.
"Kasama rin diyan, halimbawa, yung mga pinapahiram natin sa mga developer para maitayo yung mga building," he added.
Under the new monthly rates of Pag-IBIG Fund, also known as the Home Development Mutual Fund, the contributions of both employers and employees will increase to Php 200 from Php 100.
The new rates will take effect starting February.
