Tag Archive: HDMF


3 Mar 21.jpg

Now that we have the list of documents and IDs that can be presented when registering for a National ID, we shall be sharing the areas of registration centers where citizens and resident aliens can submit their application.  The following list was lifted from the Implementing Rules and Regulations of the RA 11055 or the Philippine Identification System Act.

Section 8. Registration

  1. Registration Centers

Every citizen or resident alien shall register personally in any of the following registration centers that have the necessary facilities to capture the information required to be contained in the registry.  These registration center shall be made available one year after the effectivity of this Act:

  • Philippine Statistics Authority (PSA) Regional and Provincial Offices;
  • Local Civil Registry Offices (LCROs);
  • Government Service Insurance System (GSIS) for its members and their dependents;
  • Social Security System (SSS) for its members and their dependents;
  • Philippine Health Insurance Corporation (PhilHealth);
  • Home Development Mutual Fund (HDMF);
  • Commission on Elections (COMELEC);
  • Philippine Postal Corporation (PHLPost); and
  • Other government agencies and GOCCs as may be assigned by the PSA.

Take note:

  • The list of offices of the above-mentioned agencies, which will be designated as registration centers, shall be posted on the PSA website.
  • The above agencies shall each designate an area for the setting up of registration centers by the PSA.  The PSA shall provide the necessary facilities, manpower, equipment, registration system, and resources to carry out the registration in the registration centers.
  • In the case of Filipino citizens residing abroad, the registration shall be made in the nearest Philippine Embassy or Philippine Foreign Service post, or other registration centers that may be designated by the Department of Foreign Affairs in coordination with the PSA.

 

Source:

www.psa.gov.ph

https://bit.ly/2Tfvhyv (PDF Copy of the IRR)

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1 jan 17

Pag-IBIG offers the provision of home financing programs for both new and repossessed (or acquired) housing properties that were developed by Pag-IBIG.  Active members have the option to purchase an acquired Pag-IBIG property at negotiated rates.

Acquired assets are foreclosed properties (house and lot) that are auctioned off by Pag-IBIG to the public at cheaper rates.  These are not “brand new” houses; these are properties that are repossessed due to non-payment of the original owners.  Once auctioned by Pag-IBIG, it becomes a possible alternative for other active members that are unable to take on the costs of a brand new housing unit.

If you are thinking of applying for a Pag-IBIG housing loan, it may be good to weigh your options and see if an acquired asset is something you can consider.

Here are the steps and requirements needed when applying for a Pag-IBIG loan for acquired properties under negotiated sale:

  1. Reserve the property and pay the Php 1,000 reservation fee (non-refundable/non-transferrable). Bring one valid ID and choose among the following modes of payment:
  • Cash – 30% discount; payment term of 1 month.
  • Installment – 20% discount; up tp 12 months only, with 12% interest rate per annum.
  • Housing Loan – 10% discount, for qualified members of Pag-IBIG Fund; up to 30 years, provided that borrower’s age shall not exceed 70 years old at date of loan maturity.
  1. For purchase through housing loan, submit the complete documentary requirements within 30 calendar days from payment of reservation fee and pay the processing fee of Php 2,000 and Documentary Stamp Tax of Php 100.00.
  2. Receive the Notice of Approval of Loan and pay the one (1) year advance insurance premiums within 30 days.
  3. Execute and submit the notarized Deed of Conditional Sale and other mortgage documents evidencing the loan in favor of the Fund.

Below are the BASIC REQUIREMENTS for:

SELF-EMPLOYED applicants:

  • Accomplished Buyer’s Information Sheet (2 copies) with recent 1×1 ID photo (2 copies).
  • One (1) valid ID (photocopy, back to back) of Principal Buyer and Spouse, Co-Buyer and Spouse, if applicable.
  • Proof of Income for (any of the following):
    1. Owned Business
      • Income Tax Return (ITR)
      • Audited Financial Statements
      • Official Receipt of Tax Payment from bank supported with DTI Registration and Mayor’s Permit/Business Permit.
    2. Commission Base
      • Commission Vouchers reflecting the issuer’s name and contract details (for the last 12 months).
    3. Drivers
      • Certified True Copy of Transport Franchise issued by an appropriated government agency (LGU for tricycles, LTFRB for other PUVs).
    4. Foreign Remittances and Pensions
      • Bank Statements or passbook for the last 12 months (in case income is sourced from foreign remittances, pensions, etc.
    5. Rental Payments
      • Copy of Lease Contract and Tax Declaration (if income is derived from rental payments).
    6. Sari-sari Store/Mini Groceries, Sub-contractor, On-call Maintenance, Technician
      • Brgy. Certificate/Clearance
      • Properly Accomplished Certificate of Engagement, duly notarized.

Additional Requirements:

  • Copy of Frequently Asked Questions (FAQs) with signature.
  • Photocopy of Php 1,000 reservation fee receipts.
  • Photocopy of 1 valid ID of the signatory in the Certificate of Engagement
  • Insurance Coverage (if applicable only)
    • Health Statement form (Medical Questionnaire)
      • For borrowers over 60 years old
      • For borrowers up to 60 years old, if loans are over P2.0M to P6.0M
    • Health Statement Form (Medical Questionnaire) and a copy of the result of a medical examination conducted prior to assignment overseas as required by the employment agency.
    • For OFW borrowers over 60 years old.

Locally Employed

Basic Requirements:

  • Accomplished Buyer’s Information Sheet (2 copies) with recent 1×1 ID photo (2 copies)
  • One (1) valid ID (photocopy, back to back) of Principal Buyer and Spouse, Co-buyer and Spouse, if applicable.
  • Proof of Income (any of the following):
    • Notarized Certificate of Employment and Compensation (CEC) indicating the gross monthly income and monthly allowances or monthly benefits received by the employee.
    • Certified One (1) month payslip, within the last three (3) months prior to date of loan application.
    • Latest Income Tax Return (ITR) for the year immediately preceding the date of loan application, with attached BIR Form No. 2316, stamped received by the BIR.

Note: Government employees must present one-month payslip issued within the last three months prior to the date of loan application and submitted together with CEC or ITR.

Additional Requirements:

  • Copy of Frequently Asked Questions (FAQs) with signature.
  • Photocopy of Php 1,000 reservation fee receipt.

Insurance Coverage (if applicable only)

  • Health Statement Form (Medical Questionnaire)
    • For borrowers over 60 years old
    • For borrowers up to 60 years old, if loans are over P2.0M to P6.0M
  • Health Statement Form (Medical Questionnaire) and a copy of the result of the medical examination conducted prior to assignment overseas as required by the employment agency.
    • For OFW borrowers over 60 years old.

If you have more questions about Pag-IBIG’s acquired assets, you may call their hotline at 02-724-4244.  They are available 24×7.

Source: www.pagibigfund.gov.ph

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May 07

If you are a member of the Social Security System and the Home Development Mutual Fund or Pag-IBIG (HDMF), you have various privileges such as short-term loan applications, housing loans, educational loans, and retirement benefits.  You have the option to choose one from the other or maximize both.

Today we are going to feature the similarities and differences between one of the most common loan applications offered by both agencies – salary loan.  Both are popular among employed Pinoy members because both offer lower interest rates and light payment schemes.

If you are thinking of borrowing money from a bank or any other lending facility, it may help to read first on the following facts about SSS and Pag-IBIG salary loans.

What are the requirements when applying for a salary loan?

The primary requirements are that you have to be an active member of either Pag-IBIG or SSS and have paid the minimum contributions prescribed by the agencies.

  • Pag-IBIG requires the following in terms of membership:
    • 24 monthly membership savings;
    • Have paid at least one monthly contribution within the last six months before your loan application date.
    • Any existing Pag-IBIG multi-purpose loan, calamity, or housing loan must not be in default at the time of your new loan application.
  • SSS requires the following in terms of membership:
    • If you are applying for a loan that is worth your one-month salary, you must have paid at least 36 total monthly contributions and at least six monthly contributions within the last 12 months before your loan application date.
    • For two-month salary loans, the minimum requirements are 72 total monthly contributions and 6 monthly contributions within the last 12 months.
    • Make sure that your employer has remitted all your SSS contributions on time. You may check the updates on your contributions online by signing up for a My.SSS account at the SSS website.

How much can you borrow from Pag-IBIG and SSS?

  • Pag-IBIG
    • Amount of loan will depend on your preferred loan amount, loan entitlement or capacity to pay, whichever is lowest.
    • A qualified member borrower may borrow 80% of his total accumulated value (TAV) which consists of all his monthly contributions, employer’s contributions, and accumulated Pag-IBIG dividends.
    • If the borrower has an exsisting calamity loan, Pag-IBIG will deduct the calamity loan’s outstanding balance from the 80% of the TAV.
  • SSS
    • Qualified SSS member borrowers may borrow an amount equal to their one-month salary, up to P15,000.  Those with at least 72 monthly contributions are entitled to a two-month loan worth twice their salary up to P30,000.
    • To determine the loan amount, SSS shall get the average of the loan applicant’s monthly salary for the last 12 months of employment.

What are the loan interest rates and fees?

Interest rates:

  • Pag-IBIG imposes an interest rate of 10.75% per year throughout the loan term.
  • SSS charges a 10% annual interest rate on the outstanding principal balance.

Both agencies base the interest computation on diminished principal balance, which means that the interest becomes lower as the loan gets paid over time.

Loan processing fees:

The SSS deducts a service fee of 1% of the total loan amount; Pag-IBIG does not come with a processing fee.

Late payment penalties:

  • Pag-IBIG charges 0.5% of the unpaid amount for every month of late payment.
  • SSS charges 1% per month of late payment.

How long does it take for the agencies to process salary loan applications?

Pag-IBIG takes about three to five working days to be approved and released, while SSS takes about two to three weeks, whether applied online or over-the-counter at an SSS office.

Should the agencies find any discrepancy in your account, the approval and release of proceeds might take even longer.

 How will the loan proceeds be released to the borrower?

  • Pag-IBIG
    • ATM withdrawal using a prepaid or cash card (from Citibank, Development Bank of the Philippines, or Landbank);
    • Bank account via Landbank’s Payroll Credit Systems Validation (PACSVAL) facility;
    • Check payable to the borrower.
  • SSS
    • Check or ATM withdrawal through their UMID card (you need to have your UMID card activated for ATM functionality.

What are the repayment terms?

  • Both agencies offer a maximum loan term of 24 months, starting on the second month from the loan approval date.
  • Both are paid monthly via salary deduction.  If the borrower is self-employed or is a voluntary member, loan installment payments may be done at any Pag-IBIG or SSS branch or any accredited bank or payment center.

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References:

www.sss.gov.ph

www.pagibigfund.gov.ph

 

Apr 17 (2)

If you plan to apply for a Pag-IBIG housing loan soon, know that the first thing you need to do is attend a loan counseling session at designated Pag-IBIG offices.  To help you plan your trip to Pag-IBIG, here are their schedules for the said counseling session, as well as the addresses of the offices where they hold such talks:

  • Every TUESDAY and THURSDAY

3/F Training Room, Kamias MSB

#795 Anchor Center, Edsa, Quezon City

(Near GMA-Kamuning MRT Station)

  • Every SATURDAY

2/F JELP Business Solutions Building

409 Shaw Blvd., Mandaluyong City

  • Every 2ND SATURDAY OF THE MONTH

3/F Lecture Hall B, Legislative Building,

Quezon City Hall

  • Every 3RD SATURDAY OF THE MONTH

Rizal Provincial Capitol Multi-purpose Hall

Antipolo City

All orientations are scheduled to start at 9:00AM and will end at 11:00AM.  You do not need to pay anything to attend the seminar.  You just need to be at the venue or session hall on time, with a pen and paper for your notes.  You may approach any Pag-IBIG staff after the session if you have further questions.

Reference: www.pagibigfund.gov.ph

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Mar 13

Apart from being a member of the SSS, you will also be required by your employers to submit your Pag-IBIG membership number.  Pag-IBIG, or the Home Development Mutual Fund is a Government-owned and controlled corporation responsible for the administration of affordable shelter financing to Pinoys.

Like SSS, there are different types of membership under Pag-IBIG.  You could be an employed member, self-paying (or voluntary), self-employed, or an OFW.  Each type of membership has different sets of membership requirements and contribution rates.

If you have not yet signed up with the Pag-IBIG Fund, today’s blog is for you.  Read and share!

5 Steps to Become a Pag-IBIG Member for Employees

  1. Visit the nearest Pag-IBIG office in your area.
  2. Proceed to the Marketing and Enforcement Division.
  3. Request for a copy of the Membership Registration/Remittance Form or MMRF. You may also download and print a copy through this link: http://bit.ly/2IojV71
  4. Fill out 2 copies of the MMRF and submit to the MED, along with a Member’s Data Form. You may download a copy here:  http://bit.ly/2kpyO11
  5. Submit an SSS Coverage and Compliance Certificate for the current year. If you are a government employee, submit your GSIS Certificate of Membership.

Your Pag-IBIG number will be handed to you on the same day.

You also have the option to apply for your membership online through www.pagibigfundservices.com.  Most multi-national companies process the Pag-IBIG membership of newly-hired employees.

Once your Pag-IBIG number is issued, your employer may begin remitting your monthly contribution (deducted from your salary) to the agency.

How much should you contribute to the Pag-IBIG Fund?

Below is the Pag-IBIG Contribution Table for 2018:

Pagibig Contribution Table 2018

 

Self-paying Employees

If you prefer to personally remit your contributions to the Fund, you need to submit the following:

  • Certificate of Employment and Compensation
  • Latest pay slip
  • Company ID

For Self-employed Individuals

If you work from home, run your own business, or a self-employed professional, you may register as a Pag-IBIG member under the Self-employed category.  The following are required upon registration:

  • Latest Income Tax Return (ITR) with Financial Statement certified by an accountant.
  • PRC/BAR license (if licensed professional).
  • Certificate of Remittance / ESAV (for old members)
  • SEC or DTI Registration
  • Business Permit or Mayor’s Permit
  • Two 1×1 ID photos

For OFWs

Even while you are working abroad, you can still be a member of the Pag-IBIG Fund and contribute regularly.  The following are required upon registration:

  • Latest Contract of Employment stamped by POEA.
  • Passport or any valid ID
  • Certificate of Remittance/ESAV
  • Two 1×1 ID photos

If you are already deployed abroad, you can still have your membership and contributions facilitated by your spouse or relatives; you just need to execute a Special Power of Attorney to authorize them to transact with the Pag-IBIG Fund on your behalf.

For unemployed spouse

No longer employed and staying at home with the kids?  You can still be a member of the Fund and continue making regular contributions!  Just submit the following:

  • Letter of consent from the working spouse.
  • Certificate of Employment and Compensation of the working spouse.
  • Affidavit of Unemployment.

As a member of the Pag-IBIG Fund, you have the option to acquire a residential home for you and your family through easy payment terms.  You also have the privilege to apply for multi-purpose loans and are entitled to dividend payments upon retirement.  It is an additional means to save up for our future, apart from the SSS or GSIS.

Reference: www.pagibigfund.gov.ph

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How to Get an I-DOLE OFW ID Card

09 - 06

Last July 2017, the Department of Labor and Employment launched a new ID system for OFWs called the I-DOLE.  This ID allows OFWs to do away with the long and tedious process of applying for the Overseas Employment Certificate (OEC) that they need to secure in order prove their legitimacy as Filipino workers.

Apart from it working as an OEC, the I-DOLE also covers the following card functionalities:

  1. I-DOLE card holders may claim their benefits from the following government agencies through the I-DOLE card:
    • SSS
    • HDMF or Pag-IBIG
    • Philhealth
  2. The DOLE also mentioned that they are working with the Department of Foreign Affairs (DFA) on the possibility of having the I-DOLE cardfunction as a passport for the OFWs.

How does an OFW apply for an I-DOLE card?

The DOLE stated that OFWs need not apply for the said card as their department will be issuing the IDs based on the inventory of all bona fide OFWs from the Philippine Overseas Employment Administration (POEA).  The IDs will be mailed to the OFW’s registered address.  If you have not received your I-DOLE yet, you may follow these steps in availing one from the nearest DOLE office in your area.

  1. Go to the main office of DOLE or to any DOLE office branch nearest to your place.
  2. Bring 2 or more valid IDs as proof of your identification. All government IDs are considered valid.
  3. Upon reaching the DOLE’s office, advise the guard or any person-in-charge that you wish to secure an I-DOLE card.
  4. You may be asked to present your OEC as proof that you are applying for an I-DOLE for the first time.
  5. Your information will be processed and verified against the database to check if you are listed as a qualified OFW based on POEA’s listing.
  6. When successfully verified, your ID will be printed and your name will be called when your card is ready.

I-DOLE card application will also be made available online soon to allow OFWs abroad to submit their applications so that their IDs would be ready when they come home for a vacation.

For more information on the I-DOLE card, send us an email and we will do our best to find the answers for you.

Source: www.dole.gov.ph

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11-21

Wondering if you are already qualified to apply for a housing loan with Pag-IBIG?  Here’s how you can run a quick assessment based on the requirements published by Pag-IBIG.

There are four key considerations you need to take note of when applying for a housing loan:

  1. Your Pag-IBIG Membership
  2. Your Age
  3. Your Capacity to Pay
  4. Other Pag-IBIG loans you may have

What do you need to check before you submit your housing loan application?

  1. Your membership status.
    • Your membership must be tagged as active and you must have made a minimum of 24 monthly contributions at the time of your loan application.
    • If you have not made consecutive monthly contributions within the last 24 months, you may make a one-time payment to update your account. However, you need to wait for another 24 months before you can apply for a housing loan (some branches allow 12 months).
    • If there are more than one member who will be applying a loan for the same property, all of them must meet the membership status requirement.
    • Pag-IBIG allows up to three members to avail of a single housing loan provided that they are related with the second civil degree of consanguinity.
  2. Your age.
    • The borrower member must not be more than 65 years old at the time of the loan application.
    • The borrower member must not be more than 70 years old at the date of maturity.
    • The borrower member must be insurable.
  3. Your capacity to pay.
    • Your monthly amortization should not be more than 40% of your Net Disposable Income. You may request for a Monthly Amortization and Net Disposable table from Pag-IBIG; you may use this as a reference of monthly amortization rates based on the total loanable amount.
    • You must be prepared with the funds for down payment or equity.
    • You must also have an updated file of your proof of income such as your Pay Slips, Income Statements, Employment Contract where your salary is indicated.
  4. Other Pag-IBIG Loans.
    • You may only apply for and be granted one housing loan at a time.
    • Any previous housing loans with Pag-IBIG must not have been foreclosed, cancelled, or bought back.
    • Payments for outstanding Multi-Purpose Loan must be updated and must not be in arrears at the time of application.

The best time to apply for a housing loan is while you’re in your 30s and early 40s.  Should you get disqualified on your first application, you can always try again after a year or two.

The secret is in keeping your Pag-IBIG contributions updated all the time and maintaining a good credit score.

Good luck on your housing loan application!

Sources:

http://www.pagibigfund.gov.ph/

How To Check If You Are Qualified For A Pag-IBIG Housing Loan

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Pagibig.jpg

The highlight of an individual’s adult life is when he begins acquiring assets out of the money he earned from his employment or business. Our foremost dream is to be able to purchase our own home where our family can reside safely and peacefully.

With Pag-IBIG’s housing loan, buying a house has become easier and more affordable for the Filipino. So if you are planning on buying a house, a condominium or townhouse unit, and thinking of getting it through a Pag-IBIG Housing loan, here are the requirements and processes you need to undergo. It may look like a long list but believe me, it is a lot easier than most of us think.

This was lifted from the Pag-IBIG website: www.pagibigfund.gov.ph

  1. Get your checklist of requirements, Housing Loan (HL) application form and other related forms at:
    • For NCR Accounts: Servicing Department, 2nd floor JELP Business Solutions Building, 409 Shaw Boulevard, Mandaluyong City
    • For Provincial Accounts: Any provincial Pag-IBIG branch office.
    • You may also access the form at www.pagibigfund.gov.ph, click on “Forms”
    • Accomplish the following forms prior to filing:
      • Health Statement form (Medical Questionnaire)
        • For OFW members over 60 years old
        • For Loans over P2M to P6M and for borrowers aged up to 60 years old.
      • Health Statement Form (Medical Questionnaire) and Full Medical Examination
        • Borrowers over 60 years old
  2. Submit your Housing Loan Application to the Pag-IBIG Fund with complete requirements. Pay partial processing fee of P1,000 (non refundable).
    • For NCR Properties, file at any of the following:
      • JELP Business Solutions Building: 409 Shaw Blvd., Mandaluyong City
      • Kamias Branch: 795 Anchor Center EDSA, Quezon City
      • Imus Branch: Olma Bldg., Emilio Aguinaldo Highway, Imus, Cavite
      • Provincial Properties: To be filed at the Pag-IBIG office nearest the subject property
      • Processing period: 20 working days (inclusive of Credit Investigation and Property Valuation)
      • You may also file your HL application online via www.pagibigfund.gov.ph, click “E-Services”.
  3. Receive your Notice of Approval (NOA)/Letter of Guaranty (LOG) and sign your loan documents.
    • NOA will be released ONLY to the borrower or to the Attorney-In-Fact for OFW borrowers, provided with SPA.
  4. Accomplish your NOA requirements for check release
    • You are given 90 calendar days to do the following:
      • For purchase of House and Lot/Purchase of Condominium Unit/Purchase of Lot
        • Give LOG to the seller
        • Proceed to the BIR for payment of Capital Gains Tax and Documentary Stamp Tax. The BIR will issue Certificate Authorizing Registration.
        • Proceed to the Local Government Unit (LGU) for payment of Transfer Tax
        • Proceed to the Registry of Deeds (RD) for the transfer of the title and annotation of mortgage
        • Proceed to the LGU for the transfer of Tax Declaration
        • Submit complete requirements to Pag-IBIG Fund.
      • For purchase of House and Lot mortgaged with Pag-IBIG Fund
        • Proceed to the BIR for payment of Capital Gains Tax and Documentary Stamp Tax. The BIR will issue Certificate Authorizing Registration
        • Proceed to the Local Government Unit (LGU) for payment of Transfer Tax
        • Go to the Pag-IBIG office to schedule trip to the Registry of Deeds (RD) for transfer of title and annotation of mortgage
        • Proceed to the LGU for transfer of Tax Declaration
        • Submit complete requirements to Pag-IBIG Fund
      • For construction of House/Home Improvement
        • Proceed to the BIR for payment of Documentary Stamp Tax
        • Proceed to the Registry of Deeds (RD) for annotation of mortgage.
        • Submit complete requirements to Pag-IBIG Fund.
      • For refinancing
        • Proceed to the bank/financing institution to give the Letter of Guaranty (LOG) and Loan and Mortgage Agreement (LMA).
        • Proceed to the Registry of Deeds (RD) for annotation of mortgage.
        • Submit complete requirements to Pag-IBIG Fund.
  5. Receive loan proceeds at the Pag-IBIG Fund
    • Payee to bring two (2) valid IDs. (Payee is either the borrower, the seller, or a third party to which the loan proceeds is assigned to be released). Borrower to bring 12 PDCs (if payment is not thru Salary Deduction).
    • Loan proceeds will be released to the person/institution assigned by the borrower/buyer.
  6. Start paying your monthly amortization.
    • One month from the DV/Check Date
    • For house construction/home improvement, one month from DV Check Date of the final loan release.
      • For house construction or home improvement, the loan release shall be staggered on progress of construction.

The list of requirements can be accessed here. The list includes the PSA Birth Certificate of the borrower and co-borrowers included in the computation of the aggregate income. If you are married, you would also need to submit your PSA Marriage Certificate.

SSS & PagIBIG

Did you know that as an SSS and or Pag-IBIG member, you have the option to begin a small investment that is easy on the budget but earns more than when you keep your money in the bank?  Through the SSS PESO Fund and the Pag-IBIG MP2 Program, you can!

I summarized the highlights of both programs to help you decide which would work better for you.  This is highly recommended to those who have only started working and have paid the prescribed number of contributions for their SSS and Pag-IBIG membership.  Remember that this is apart from the regular monthly contributions you make out of your salary.

Read on!

SSS PESO FUND:  (https://www.youtube.com/watch?v=gCmHpprbfec)

What is the SSS PESO Fund?

PESO stands for Personal Equity and Savings Option.  It is an own-account voluntary provident fund offered exclusively to SSS members in addition to the Regular Coverage Program.  With a minimal amount of P1,000, an SSS member can activate his PESO account and begin a separate savings account with higher benefits.

Who can avail of the SSS PESO Fund?

  • SSS members who are 54 years old and below;
  • With at least 6 months consecutive contributions in the regular SSS program within the 12-month period immediately prior to the month of enrollment;
  • Self-employed, voluntary, and OFW members should be paying the maximum amount of contributions under the regular SSS program;
  • Have not filed any final claim under the regular SSS program.

How to Apply?

  • Download and fill out the online PF Enrollment Form from the MySSS portal (www.sss.gov.ph)
  • Bring the duly accomplished form to any SSS branch near you.
  • Your membership to the SSS PESO Fund account will be activated as soon as you make your first contribution.

How much to activate my account?

  • A member is allowed to make a maximum of P100,000.00 contribution per year or
  • A minimum monthly contribution of P1,000.00.  Any amount below the minimum contribution amount shall not earn interest and be subject to automatic refund.
  • Payments should be made in multiples of P100.00.

Your contributions to the PESO fund are invested in sovereign guaranteed investments with earnings based on:

  • 5-year T-Bonds
  • 364-day Treasury Bill rates
  • Earnings are tax free
  • Retirement and Total Disability Benefits – this may be paid in monthly pension, lump sum, or combination of both upon contingency.
  • Death Benefits – this shall be paid in lump sum
  • Early Fund Withdrawal – 35% of the equity may be withdrawn.

Pag-IBIG MP2  (http://www.pagibigfund.gov.ph/pop/mp2.htm)

The MP2 program took effect in 2010, earlier than the SSS PESO Fund.  It is an alternative savings scheme for Pag-IBIG members with an opportunity to earn higher interest rates compared with the Pag-IBIG membership program.

  • Minimum contribution of Php 500.00 per month
  • Terms of 5 years, renewable
  • Flexible dividend rates but always higher than Pag-IBIG 1
  • Contributions and earnings are government guaranteed.
  • You can save as much as you can; unlike with SSS PESO Fund where you are limited to Php 100,000.00 per year.
  • For Voluntary, Self-employed, and OFW members, you need to have paid at least Php 200.00 to your regular Pag-IBIG savings for the month before making your first payment for your MP2.
  • For Employed members, you need to pay at least Php 100.00.
  • You may claim your total MP2 savings and dividends after 5 years.  You may also renew and continue your savings for another 5 years.
  • There is no maximum age limit set by Pag-IBIG for MP2 registration and an individual can have more than one MP2 account.

Similar with the SSS PESO Fund, contributions to the MP2 Program are apart from your monthly PagIBIG contributions.  Earnings from the MP2 are tax-free.  The program is open to non-OFWs and OFWs who are Pag-IBIG members.

If you are interested to begin your own MP2 account, you may enroll online via the Online MP2 Enrollment System, right here: http://www.pagibigfund.gov.ph/memserv/

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