Pag-IBIG releases total savings of senior citizens aged 65 under BalikSavings65

14

Dec
2014

Pag-IBIG Fund Chairman of the Board of Trustees, Vice President Jejomar C. Binay, led the release of checks representing the total accumulated savings to several retired Pag-IBIG members in the NCR at the launch today of the “Pag-IBIG BalikSavings65” campaign for Fund members aged at least 65 years. Read more.

“I directed Pag-IBIG management to check our records for Pag-IBIG members aged 65 years and above who have not yet claimed their Pag-IBIG savings even after they have reached the mandatory age of retirement which is 65. Let us enable these members to enjoy their Pag-IBIG savings while they are still strong and able. By receiving their Pag-IBIG savings, we hope to provide our retired members with additional financial assistance for their needs,” said Vice President Binay.

“Today, we launch the “Pag-IBIG BalikSavings65” and now make it simpler for our elderly members to claim their Pag-IBIG savings in 3 easy steps: 1) accomplish and submit the Provident Benefits Claim form and present any two valid government identification cards that contain date of birth (DoB) like driver’s license, passport, postal ID, and voter’s ID; or if IDs presented do not show DoB, members can show either an NSO-certified birth certificate or an NSO-certified true copy of non-availability of birth record along with notarized affidavit of two disinterested persons; 2) go to the special lane dedicated to applying elderly members at the Pag-IBIG branch nearest them; and 3) wait for six working days, from the time they submit their complete documents, for their claims to be processed. If the member-claimant cannot claim personally, his representative needs to submit the member’s Special Power of Attorney and two valid IDs each for him and his Attorney-in-Fact,” said Pa g-IBIG President & Chief Executive Oficer Atty. Darlene Marie B. Berberabe.

Starting December 16, 2014, Pag-IBIG will directly inform all its retired members aged 65 years and above who are found in its records that they may start claiming their Pag-IBIG savings. Members may receive their savings via their Land Bank CashCard or Pag-IBIG Citi Prepaid Card, or through check release if they prefer. The Pag-IBIG savings comprise of the member’s contributions, the employer counterpart share, and Pag-IBIG dividends earned throughout the years of one’s membership.

To illustrate, a member who continuously saved P100 with Pag-IBIG for the last 34 years, along with monthly counterpart from his employer, is set to have an estimated total accumulated savings worth P218,369.05. A second member who saved P100 with Pag-IBIG, along with monthly counterpart from his employer, and withdrew his total savings due to membership maturity after his first 20 years of membership with the Fund and remittance of 240 monthly membership savings received P95,380.92. If this second member later resumed saving P100 per month for the next 14 years, along with monthly counterpart from his employer, he may receive an estimated total accumulated savings worth P46,209.38. Members will receive varying amounts of Pag-IBIG savings, depending on the length of membership, amount of upgraded savings, and previous withdrawal.

“This is our early Christmas gift to our elderly members. They have been with Pag-IBIG Fund when it was starting, and it is but proper that we make it easier for them to claim their savings and enjoy the fruits of their being Pag-IBIG members,” Atty. Berberabe added.

Patunay na naman, sa Pag-IBIG, ang pinaghirapan, BalikSavings ang katuparan. (END)

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Pag-IBIG’s pro-active good governance earns COA’s unqualified opinion anew

11

Dec
2014

Pag-IBIG Fund earned a second consecutive unqualified opinion from the Commission on Audit (COA), proving that the agency adheres to stringent international financial reporting standards as it also garnered praise for pursuing innovations to further strengthen good governance.

“This is welcome news. The fact that COA gave unqualified opinion for our financial statements for 2012 and 2013 clearly confirms the integrity of our financial records, shows that we are able to execute and implement COA’s recommendations on their findings and demonstrates our full compliance with strict government rules and regulations,” said Vice President Jejomar C. Binay, who chairs the Pag-IBIG Fund Board of Trustees. Read more.

In the COA 2013 Annual Audit Report (AAR) on Pag-IBIG Fund, released last December 3, Pag-IBIG Fund earned the highest opinion that COA renders to a government agency.

“We rendered an unqualified opinion on the fairness of the presentation of the financial statements of Home Development Mutual Fund (Pag-IBIG Fund) as at December 31, 2013, and its financial performance and its cash flow for the year then ended in accordance with International Financial Reporting Standards,” wrote Atty. Resurrecion Quieta, the author of the independent audit report.

Pag-IBIG also garnered praise from COA for pursuing “innovations and other pro-active practices to further strengthen good governance” by conducting joint conferences with state auditors, a best practice started with Pag-IBIG and which will be cascaded by COA to other agencies in the future after it was proven as an effective mechanism in promoting an atmosphere of mutual respect between COA and the audited agency, as well as in ensuring compliance by the agency with COA rules.

“The conferences were held in the corporate headquarters and in various branches and operating units in the different regions. No less than the Pag-IBIG Fund CEO attended the conference for the Corporate Headquarters (CHQ) sometime in November 2013. Her presence and participation demonstrated her commitment to make the Fund worthy of trust and confidence of its members at all time,” read the report.

“Our joint efforts with auditors strengthen our relationship with COA. We see COA not as an adversary but as our partner in development that provides support and guidance as we administer the funds of our 14.6 million members, the Filipino workers worldwide,” said Pag-IBIG Fund President and CEO Atty. Darlene Marie B. Berberabe. (end)

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Pag-IBIG Fund maintains ISO 9001 Certification

19

Nov
2014

Pag-IBIG Fund has passed its ISO recertifi-cation audit this year, affirming the agency’s abiding commitment to provide quality service to its rapidly growing membership around the globe, and to cultivate a culture of excellence among its employees. Read more.

German firm TÜV SÜD, a globally recognized certifying body for ISO standards, granted Pag-IBIG Fund an ISO 9001 certification for its Membership Registration Process, which falls under the Advocacy and Capability Building Component of the Government Quality Man-agement Program (GQMP). Initially granted to Pag-IBIG Fund in December 2011, the certi-fication validated the Fund’s efforts to use its resources in developing its capability in estab-lishing, implementing and in continuously im-proving its registration system. Pag-IBIG at-tained its initial certification in a record time of three months and 19 days, holding the record of becoming the first key shelter agency to receive an ISO 9001:2008 certification at the least possible time.

“We are serious in observing high standards in fulfilling our twin mandates of providing afford-able housing and provident savings to Filipino workers. As Chairman of the Pag-IBIG Board of Trustees, I have directed Pag-IBIG to provide our 14.5 million members a quality manage-ment system to guarantee complete customer satisfaction because they deserve nothing less. The fact that we maintained our ISO 9001 cer-tification is a testament to our focused efforts and determination to consistently provide ex-cellent and efficient service to our members,” said Vice President Jejomar C. Binay.

Valid for three years, Pag-IBIG aimed for the renewal of its ISO 9001 certification before its expiration in December this year. With vali-dated quality standards in place, Pag-IBIG pursued certification not just on its manage-ment system and processes, but also in the implementation of these processes across its branches and offices. Thus, Pag-IBIG expand-ed the scope of ISO audit to include its branch-es and corporate offices. To date, all of its 11 branches in the national capital region (NCR) and 12 offices from the corporate headquar-ters passed the review, and were granted ISO 9001 certification.

“We choose to go beyond what other people expect of Pag-IBIG Fund. Excellent perfor-mance and integrity are at the very core of our working philosophy. We are proud to have maintained our ISO 9001 certification. As ad-ministrators of the Filipino workers’ fund, we take pride in the recognition that the work we do complies with the most stringent global standards,” said Atty. Darlene Marie B. Berberabe, President and CEO of Pag-IBIG.

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Pag-IBIG Fund Choral bags top prize in CSC Choral Competition

16

Oct
2014

The Pag-IBIG Fund Choral with (center) choir master Mr. Anthony Villanueva and VP for Human Resources Group, Ms. Delia Robles.

The Pag-IBIG Fund Choral took home the grand prize in the Civil Service Commission (CSC) Government Choral Competition held at the CCP Main Theater last September 30, 2014. The 21-member singing group wowed the judges with its rendition of “Magkaisa,” “Mamayug Akun,” and the contest song, “Kaya Mong Maging Dakila.” The group also won the Best Entry for NCR in the elimination round. Read more.

This is not the first time that the choral group has been recognized for its talent. In 2006 and in 2007, it placed third and second, respectively, in the PMAP Annual Search for Best Choral Group. In 2009, it placed first in the Philippine Social Security Association (PHILSSA) Christmas Carol Competition. And in 2011, it took the second place in the CSC Government Choral Competition.

“I am very proud of our choral. This is another example of what we can achieve through hard work, focus, discipline, and consistency. The Pag-IBIG Choral has always supported our quest for excellence, proving that Pag-IBIG employees are not only capable of providing exceptional service to our members, but also dazzle in arts and culture, particularly music,” says Pag-IBIG President and CEO, Atty. Darlene Marie Berberabe.

The Pag-IBIG Choral made its public debut in CCP’s “Liwliwa:Konsierto ng mga Kawani.” It also participated in various music festivals including the Madz Et Al Choral Festival from 2007 to 2011 and in Maestro Ryan Cayabyab’s Thousand-Voice Choir Project. It has also guested in several TV shows and has spearheaded several outreach activities. Indeed, since its creation in 2005, the Pag-IBIG Fund Choral has proven to be an effective Ambassador of Goodwill for Pag-IBIG.

The group is composed of Pag-IBIG employees coming from the agency’s Corporate Headquarters. They are: Ma. Rosario Magtoto, Levina Julian, Ma. Teresa Tayo, Diecebel Guerina, Lilibeth Antonio, Elma Abanono, Maybelle Baldorado, Lee Beth Costino, Jennifer Gana, Mary Grace Palanas, Junnelyn Bermudez, Florianne Jacinto, Ariel Acosta, Jonathan Haber, Franklin Delfin, Jr., Paul Michael Lacson, Darwin Lomentigar, Elmer Mari Hernandez, Roy Rowe Escoton, Elpidio Parayno, Jr., Bon Sam Art Go. The group is led by Mr. Anthony Villanueva, a multi-awarded choral conductor as well as piano and voice aficionado, renowned both here and abroad.

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CDO West Branch Inauguration

04

Sep
2014

In the photo (l-r): Pag-IBIG Fund’s Vice President Mr. Fermin A. Sta. Teresa and President & CEO Atty. Darlene Marie B. Berberabe; Cagayan de Oro City Mayor Hon. Oscar S. Moreno; and Pag-IBIG Fund Area Head Ferdinand F. Saniel. Pag-IBIG opens second branch in CDO for members in western Misamis Oriental and Bukidnon Read more.

Pag-IBIG Fund President and Chief Executive Officer Atty. Darlene Marie B. Berberabe and Cagayan de Oro City (CDO) Mayor Hon. Oscar S. Moreno recently led the inaugural ceremony of the 222-sq.m. Pag-IBIG CDO West Branch office located at the ground floor of Stary Building, Max Suniel St., Barangay Carmen, CDO.

“With the Philippine economy continuing to flourish, the Pag-IBIG Chairman of the Board of Trustees, Vice President Jejomar C. Binay, wants Pag-IBIG to be proactive in growing our business, so that our members will find it easy and convenient to access the many benefits of being a Pag-IBIG member. Opening more branches to service more of our 14 million-strong members is one such concrete way of doing so. We recognize the huge potential for business in CDO, with its booming economy, thus, we have no less than two branches operating within the city, along with one service desk at Robinsons Mall and another in Gingoog City. With the new branch servicing the western part of CDO, registered members and employers in the area won’t have to travel far just to transact with us,” said Atty. Berberabe.

Services offered by Pag-IBIG CDO West Branch include receiving of membership contribution obligations from employers, individual payors, and self-employed members, as well as members’ savings under the Modified Pag-IBIG 2 Program. Member-borrowers can update their housing loan or short-term loan amortization payments and file their applications for membership, housing, multi-purpose, and calamity loans.

The Pag-IBIG CDO West Branch is headed by Ms. Jonna P. Neri and serves almost 42,000 employees and more than 900 registered employers. It covers 191 Barangays within the western parts of Misamis Oriental and Bukidnon provinces, including 11 municipalities as well as El Salvador City and western CDO. Ms. Susan M. Cezar heads the other Pag-IBIG office in the city which serves the eastern part of Misamis Oriental, the Pag-IBIG CDO Central Branch, located in J.R. Borja along Mortola Street. Pag-IBIG also has service desks at the Lingkod Pinoy Center inside Robinsons Mall in Limketkai Center and at the entrance of Gingoog City Public Market.

To date, Pag-IBIG serves more than 1.3 million members in Mindanao through 17 branches and 5 service desks across the area. (JRS/Faye)

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Pag-IBIG Mandaue Branch opens inside Gaisano mall

22

Aug
2014

In the photo (l-r): Pag-IBIG Fund’s OIC-DCEO Ms. Ophelia L. Dela Cerna, Vice President Ms. Victoria B. Dela Pena, and President & CEO Atty. Darlene Marie B. Berberabe; Gaisano Capital Corporation’s Business Development Executive Mr. Eric Labrada; and Mandaue City’s Vice Mayor Glenn Bercede and Councilor Ben Basiga. Read more.

Pag-IBIG Fund recently inaugurated its Mandaue Branch office at the 2nd floor of Gaisano Capital Casuntingan Mall in Casuntingan, Mandaue City, one of five Pag-IBIG branches inside a Gaisano mall. Gaisano Capital Corporation (GCC) provided the 320-sq.m. office space for free.

“Following Pag-IBIG’s mantra of Bigger, Better, Faster, our Pag-IBIG Board Chairman, Vice President Jejomar C. Binay, instructed us to offer our ever-increasing members with better services by opening more branches situated where most of our members are. Within these branches, we aim for faster operations to make Pag-IBIG membership more responsive and relevant to our 14 million members. We thank Gaisano for opening their doors to us, making it easier for members and registered employers to transact with us,” said Pag-IBIG President and CEO Atty. Darlene Marie B. Berberabe.

The Pag-IBIG Mandaue Branch is headed by Ms. Ma. Salve P. Ceniza and covers 404 barangays in Mandaue City and the northern part of Cebu, including the islands of Camotes and Bantayan. It has a membership base of 186,000 and serves more than 4,500 employers. This Pag-IBIG branch is under the Area of North Central Visayas which has almost 360,000 members.

Covered employers and individual payors can remit their membership contribution obligations and Pag-IBIG savers under the Modified Pag-IBIG 2 Program can pay their additional savings in the branch. Member-borrowers can pay their housing loan amortization payments and file their applications for housing, multi-purpose, and calamity loans. The branch also accepts membership applications.

Gaisano Capital Malls and Pag-IBIG Visayas, led by Vice President for Branch Operations Victoria B. Dela Peña, had a series of negotiations for Pag-IBIG’s free use of office space within Gaisano malls in the Visayas and Mindanao. Pag-IBIG also has the following branches inside Gaisano malls: Mactan Branch in Gaisano Capital Mactan in Lapu-Lapu City, Surigao Branch in Gaisano Capital Surigao, SRP Talisay Branch in Gaisano Capital South Road Properties (SRP) in Talisay City, and Cebu Colon Branch in Gaisano Capital South. Danao Service Desk is also located inside Gaisano Capital Danao. To date, Pag-IBIG has 70 branches nationwide, with 47 more to be opened until 2015. (JRS/Faye)

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Pag-IBIG launches 2nd promo for OFWs upgraded savings

18

Aug
2014

Overseas Filipino Workers (OFWs) across the globe who will save at least P600 a month with Pag-IBIG Fund will get a chance to win US $10,000 in Pag-IBIG’s 2nd “Dagdag Ipon Raffle Promo” for its OFW-members. Read more.

Pag-IBIG Fund President and Chief Executive Officer Atty. Darlene Marie B. Berberabe said that the raffle promo is open to all new and active Pag-IBIG OFW members who will remit membership savings of at least P600 a month in a single transaction.

“We encourage our OFW members to save with Pag-IBIG Fund for their future needs. The good thing about saving with the Fund is that they also gain access to Pag-IBIG’s various provident and housing programs. More impor-tantly, their savings have earned dividends at least four times higher than banks’ rate.” Atty. Berberabe said.

“One of the advocacies of Vice President Jejomar C. Binay, concurrent Chairman of Pag-IBIG’s Board of Trustees, is to uplift the plight of OFWs and ensure that all their hard work and sacrifice to secure the future of their families are recognized and protected. This raffle promo instills in our OFW members a savings culture that they will hopefully continue in the years to come,” Atty. Berberabe added.

Last year, an OFW-member from Dubai won the grand prize of US$10,000 at the first “Dagdag Ipon Raffle Promo.” His regular monthly remittance of upgraded savings gave him greater chances of winning. Other OFW winners of the 2013 raffle promo reunited with their families through vacation packages or won gadgets and gift certificates, all courtesy of the Fund. The 2013 raffle promo successfully created awareness among OFWS and their families of the many benefits of being an active Pag-IBIG member.

Based on the promo mechanics for this year, every P600 savings remitted in a single transaction is equivalent to one electronic raffle entry. Thus, a member who will contribute P1,200 will get two raffle entries, and so forth.

Those who wish to join the promo need to follow a one-time simple procedure, which can be done online, at the convenience of their homes or wherever there is internet access, according to Atty. Berberabe.

The Pag-IBIG President explained that once remittance of the contribution has been made, OFWs will just have to visit www.pagibigfund.gov.ph and click the “Filipinos Working Abroad” web button, and then the “Join the raffle promo” link. This procedure, however, will only be done once, wherein the member will be required to update his/her record to validate his/her entry to the raffle promo. The succeeding entries will be automatically registered upon remittance of at least P600 membership savings.

Atty. Berberabe said that monthly savings may be remitted by the OFW or his/her representative, at any Pag-IBIG of-fice in the country, Pag-IBIG satellite desks located at the Philippine Overseas Employment Administration offices, Pag-IBIG accredited banks and remittance centers, and through online using MasterCard or Visa credit card.

“We are doing our best to make Pag-IBIG membership of OFWs and their remittance of savings easy and hassle free,” Atty. Berberabe said.

Aside from the cash prize, Pag-IBIG will be giving away round-trip plane tickets to and from the Philippines, family vacation packages, smart phones, iPad Mini units, and 3D smart TVs.

The promo will run from July 01, 2014 to December 31, 2014.

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Pag-IBIG and Paranaque City join forces, bring benefits to more workers

11

Aug
2014

In photo are (l-r): Paranaque City Administrator Atty. Fernando C. Soriano, Paranaque City Mayor Edwin L. Olivarez, Pag-IBIG Fund President and CEO Atty. Darlene Marie B. Berberabe, and Pag-IBIG Fund Pasay Branch Manager Helen M. Paner. Read more.

Pag-IBIG Fund and the local government of Paranaque City recently entered into an agreement for better and more efficient implementation of the mandatory Pag-IBIG membership registration of employees.

The Paranaque City Local Government shall now require all employers or companies applying for or renewing their business permits to first secure a Certificate of Employer Registration (COER) or clearance from Pag-IBIG as a pre-requisite to the issuance of their business permits.

“Vice President Jejomar C. Binay, who is also the Chairman of the Pag-IBIG Board, has instructed us to ensure that our members have easy and convenient access to our services and programs. This partnership with the Paranaque City government will enable us to reach more workers and have them register as Pag-IBIG members. We are expected to enlist around 3,000 new employers, bringing in an additional 8,500 new members in Paranaque alone. By partnering with LGUs like Paranaque City, we encourage more workers to register so they can start enjoying the many benefits of being a Pag-IBIG member,” said Pag-IBIG President Atty. Darlene Marie B. Berberabe.

Meanwhile, Paranaque City Mayor Edwin L. Olivarez mentioned that several new companies are opening this year in Paranaque City and this means more potential members for Pag-IBIG. “This is another milestone for our city. Rest assured that we are here to help Pag-IBIG extend its services to more employees working in Paranaque. We are also planning to open a one-stop shop at the city hall for easier and faster transactions with the different government agencies, including Pag-IBIG,” he said.

The partnership between Pag-IBIG and LGUs will provide workers within the LGU with access to decent shelter and the opportunity to save with the Fund. It will also create awareness among companies and businesses on the mandatory coverage of Pag-IBIG pursuant to RA9679. (JRS/FFM)

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Pag-IBIG Fund opens three new branches in NCR

23

Jun
2014

Pag-IBIG recently opened three new offices in Metro Manila to further expand its presence in the region and bring its services closer to its growing members.

“The good news is that we have now opened the Ayala Avenue and Guadalupe branches in Makati City, and the Commonwealth branch in Quezon City. The directive of Pag-IBIG Board Chairman, Vice President Jejomar Binay, is to give high importance to the Fund’s accessibility, in order to provide convenient, hassle-free to our members. Our considerable investment in new offices is aimed at ensuring that our members’ transactions with the Fund are concluded faster, because we value their time,” said Pag-IBIG Fund President Atty. Darlene Marie B. Berberabe. Read more.

The Ayala Avenue Branch, located at the 2nd floor of SSS Building 6782 Ayala Avenue cor. V.A. Rufino St., serves employers and companies located from Ayala Avenue cor. V. A. Rufino Street to EDSA (left and right side of Ayala Avenue).

The Guadalupe Branch, on the other hand, is located at the 2nd floor of Guadalupe Commercial Complex in EDSA. It covers the following barangays: Cembo, Comembo, West and East Rembo, Guadalupe Nuevo, Guadalupe Viejo, Pembo, Pinagkaisahan, Pitogo, Rizal, and Pateros. The Pag-IBIG Guadalupe Branch is very accessible via the MRT Guadalupe Station.

Meanwhile, the Pag-IBIG Commonwealth Branch is located at 46 Diliman Commercial Center Building, beside St. Peter’s Parish. It serves companies or employers located in: Bagong Silangan, Batasan, Commonwealth, Krus na Ligas, Culiat, Fairview, Holy Spirit, Matandang Balara, New Era, North Fairview, Old Capitol Site, Pasong Tamo, Payatas, San Vicente, Tandang Sora, UP Campus, UP Village, and Vasra.

These branches conduct Fund Briefings, handle membership registration (including that of the kasambahays’), accept and approve Short-Term Loan (STL) and Claims applications, the release of transaction cards, assist in transfer of records, accept and pre-evaluate Housing Loan (HL) applications, and handle queries on membership and application for STL, HL, and Claims. Housing loan borrowers can also pay their monthly amortizations here. To date, there are 66 Pag-IBIG branches serving the members nationwide and 19 overseas desks serving OFW members worldwide and this number is expected to be doubled by end of 2015. (END)

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Pag-IBIG prioritizes members’ convenience, now more ways to pay loans and savings

09

Jun
2014

Pag-IBIG Fund has again found a way to further enhance the membership experience of its 13.8 million members worldwide, by partnering with several establishments to make the payment process easier and more convenient for individual members in remitting their payments of Housing Loan (HL) amortizations and individual membership savings (MS), as well as for employers to remit their payment obligations to Pag-IBIG. Members now have an array of payment gateways, through over-the-counter or online transactions, or the use of credit card or mobile phone. Read more.

“We at Pag-IBIG continuously seek ways to utilize modern technology in providing the best possible service to our members. The directive of Pag-IBIG Board Chairman Vice President Jejomar C. Binay is to embark in innovations that will bring Pag-IBIG at par with the best in the private sector in providing payment solutions to our members, and to do so without sacrificing the quality of our service. Increasing payment channels for our members is a big step towards this direction,” said Pag-IBIG President Atty. Darlene Marie B. Berberabe.

Member-borrowers can now pay their HL bills at any Bayad Center outlets, SM Business Centers (including HyperMarket and Savemore), Land Bank branches, and Metrobank (MBTC) branches. They can also pay at any of MBTC’s ATM machines, or through its mobile payment via SMS and internet facility, provided they have an account with MBTC. Member-borrowers can also pay via mobile phone through Globe GCash, a payment option available 24/7 to Globe subscribers.

On the other hand, MS payments can now be made at any Bayad Center outlets and SM Business Centers (including HyperMarket and Savemore) nationwide. Members can also use their VISA or Mastercard Credit Card issued here or anywhere in the world to remit their Pag-IBIG membership monthly.

Our valued registered member-employers can pay their employees’ MS and Short-Term Loan (STL) amortizations online via Union Bank of the Philippines’ One Hub (Pag-IBIG Hub); BPI’s ExpressLink and Land Bank’s wePayAccess, as long as they maintain an account in said banks.

Meanwhile, overseas Filipino workers can conveniently pay their HL and Short-Term Loan dues and MS remittance at the following payment centers: Philippine National Bank, Metrobank, Asia United Bank, i-Remit, and Ventaja. (END)

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Pag-IBIG expands presence, opens 28 more branches

16

May
2014

Pag-IBIG Fund continues to be bigger as it expands its presence in the Philippines and abroad with more branches and service desks serving its 13.8 million members worldwide.

“We put high premium on the convenience of Pag-IBIG members transacting with us day by day. We are guided by the directive of Pag-IBIG Board Chairman, Vice President Jejomar C. Binay, to increase our accessibility here and abroad, making things easier for our members to avail of our services. This is also in line with Pag-IBIG’s mantra of being a Bigger, Better, Faster Fund for the Filipino workers,” said Pag-IBIG President Atty. Darlene Marie B. Berberabe. Read more.

Last year, 24 new member services branches (MSBs) were opened nationwide – 2 in the NCR: Quezon Avenue and Muntinlupa; 11 in the rest of Luzon: Vigan, Laoag, Urdaneta, Cauayan, Solano, Tarlac, Angeles, Balanga, Cabanatuan, Meycauayan, and San Pablo; 5 in the Visayas: Dumaguete, Tagbilaran, Mactan, Kalibo, and Capiz; and 6 in Mindanao: Cagayan De Oro West, Malaybalay, Davao South, Digos, Koronadal, and Cotabato. Pag-IBIG also launched overseas desks in Muscat, Oman and Tokyo, Japan to serve OFW members in both countries. In the first quarter of 2014, Pag-IBIG opened its branches in Ayala Avenue and Guadalupe, both in Makati City, and a third branch in Surigao. Commonwealth MSB in Quezon City had its soft opening in early May of this year. Some of these MSBs previously served the Pag-IBIG members as service desks or extension offices.

Additional service desks are now accommodating member-shoppers in different malls: 4 inside Robinsons Malls in Lipa, Iloilo, Bacolod, and General Santos; and 1 each inside Ali Mall and Veranza Mall. Pag-IBIG is also present inside the LGUs of Gingoog in Misamis Oriental, Tandag in Surigao del Sur, Tubod in Lanao del Norte, and Marawi in Lanao del Sur.

Atty. Berberabe said, “By increasing Pag-IBIG’s visibility inside and outside the country, we continue to generate more membership. We also increase our collections in terms of members’ contributions and upgraded savings, and loan amortizations. More significantly, we multiply our stations from which we can serve more and more Filipino workers worldwide.”

MSBs conduct Fund Briefing, handle membership registration, accept and approve Short-Term Loan (STL) and Claims applications, accept and pre-evaluate Housing Loan (HL) applications, and handle queries on membership and application for STL, HL, and Claims. Checks of HL proceeds may also be released there upon the request of the member-borrower. Each MSB has a Branch Support that releases checks and accepts payments for HL and STL amortizations and member contributions.

The Housing Sector at the JELP Business Solutions Building along Shaw Boulevard in the NCR and the Housing Business Centers (HBCs) in key cities nationwide accept and process HL inquiries, HL applications, HL loan proceeds disbursement, and HL payments. The Pag-IBIG office in JELP processes HL applications in the NCR, while the HBCs handle the HL concerns of members in the rest of the country.

Service Desks in malls and LGUs accommodate inquiries on membership, provident benefits, HL, and STL. They accept applications on transfer of records and loan details, STL, and provident claim.

Pag-IBIG targets to open 26 more branches this year, plus 4 new posts in New York and San Francisco in the USA, Kuala Lumpur in Malaysia, and Macau. “Hopefully, there will be 117 Pag-IBIG branches in the Philippines by the end of 2015,” Atty. Berberabe added.

To date, there are 66 Pag-IBIG branches serving the members nationwide and 19 overseas desks serving OFW members worldwide. (end)

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Globe Asiatique Case is About Quest for Justice, not Political Persecution - HDMF

08

April
2014

Pag-IBIG Fund President Atty. Darlene Marie Berberabe said that the cases filed by the Home Development Mutual Fund or Pag-IBIG Fund against Delfin Lee and his cohorts are about seeking justice due to the victims of the Globe Asiatique scam that defrauded the Fund and its members, and should not be colored by politics. Read more.

“The GA scam was first investigated in the middle of 2010, and progressed naturally. This was way before any talk of politics in 2016. I do not see how politics is pulled into the issue,” Berberabe said.

Berberabe emphasized that the result of the investigation conducted by the Fund, which revealed massive fraud committed by Lee and his group, was corroborated by the results of the independent investigations separately conducted by the Department of Justice (DOJ) and the Commission on Audit (COA).

Lee’s lawyers earlier admitted their client’s links to Secretary Mar Roxas of the Department of the Interior and Local Government, the reason why Lee, they say, is allegedly being politically persecuted. Lee also claimed that the syndicated estafa filed against them has no basis.

Berberabe said that Lee’s allegation that the prosecution of his case is in any way politically motivated is belied by the facts.

“Pag-IBIG, DOJ, COA and all evaluated independently all evidence on hand, conducted independent investigations and all institutions pointed to the same conclusion of fraud by Lee and cohorts,” Berberabe explained.

Berberabe also said that the Regional Trial Court similarly found probable cause on the cases filed against Lee and his group. In fact, the Supreme Court also issued Temporary Restraining Orders on the execution of the Orders of the Court of Appeals favoring Lee.

“With so many eyes, ears and brains pointing to same conclusion, I do not see how they can claim there is no basis [for the cases filed against him],” Berberabe said.

“Pag-IBIG Fund is fighting for what is right. We will stand firm on our case and we will answer all allegations of Lee’s camp. We firmly believe that truth and justice will prevail in the end,” she added.

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Pag-IBIG Branches get 100% passing rate in Anti-Red Tape Survey, 7 rated Excellent

03

Mar
2014

Pag-IBIG Fund delivered when the Civil Service Commission called for servant-heroes among the government agencies, with Pag-IBIG employees enabling all 22 branches that underwent the Anti-Red Tape Act (ARTA) surveys in 2013 to get passing scores, with 7 achieving Excellent ratings. Read more.

Seven Pag-IBIG branches and offices – Calapan, Naga, Kalibo, Tacloban, Cebu South, Davao, and Koronadal received Excellent ratings. Of these, Naga, Cebu South, and Davao have also been conferred the Citizen’s Satisfaction Center Seal of Excellence after being validated for their Excellent performance in the surveys. Eleven branches received Good ratings – Caloocan, Cubao, Imus, Baguio, Vigan, Isabela, Malolos, Dumaguete, Cagayan de Oro, Dipolog, and Kidapawan, while four were graded Acceptable – Dinalupihan, Batangas, Capiz, and Butuan.

“Pag-IBIG’s 100% passing rate in the ARTA survey, as well as the Seals of Excellence and Excellent ratings awarded by the CSC to Pag-IBIG branches, are testaments to Pag-IBIG’s commitment to provide exemplary service to our members,” said Pag-IBIG Chairman Jejomar C. Binay.

Pag-IBIG President Atty. Darlene Marie B. Berberabe further shared that “Our Chairman of the Pag-IBIG Board, Vice President Jejomar C. Binay, constantly reminds us to raise the bar of public service, reaching out to more of our members and making their availment of Pag-IBIG services convenient and hassle-free. Our recognitions show that Pag-IBIG employees go beyond mere compliance with what ARTA requires; we push for excellence in our work as we serve our 13.5 million members worldwide. Much still needs to be done from our end, and we continuously innovate to provide better programs and services to our members. We are thankful of, as well as mindful of, the laudable initiatives of the CSC to ensure government servants are on their toes in providing quality service.”

From January to December 2013, CSC surveyed 929 government services offices from 40 government agencies and 4 state universities & colleges. CSC recently announced that 67 government offices failed the survey.

The ARTA survey checks on the compliance of government agencies with the provisions of Republic Act 9485 or the ARTA. The law promotes integrity, accountability, and proper management of public affairs and public property, and establishes effective practices aimed at the prevention of graft and corruption in government. The survey covers two areas: Compliance with ARTA Provisions, and Over-all Client Satisfaction. ARTA provisions include the availability of the agency’s Citizen’s Charter, Anti-Fixer Campaign, Identification or Nameplates of employees, No Hidden Costs on services, Public Assistance & Complaints Desk, and No Lunch Break. Client Satisfaction considers the presence of Frontline Service Provider/s, Service Quality, Physical Set-up or Lay-out, Basic Facilities, and Respondent-Client Satisfaction.

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Pag-IBIG and LRA move towards One-Gov’t for Housing

03

Mar
2014

Pag-IBIG Fund and the Land Registration Authority (LRA) have entered into an agreement that will ensure convenience to applicants of Pag-IBIG housing loans and the more efficient processing of loan applications through the utilization of 2D barcoding.

Atty. Darlene Marie B. Berberabe, Pag-IBIG Fund President and CEO, and LRA Administrator Atty. Eulalio Diaz III, signed last February 13, 2014 the accord on the use of 2D barcode stickers in housing loan documents. Read more.

With the new system, housing loan documents such as the Deed of Assignment and the Loan & Mortgage Agreement will bear barcode stickers containing the data needed by the Registry of Deeds (RD) for annotation of titles. With a compatible barcode reader, the RD will easily capture the data embedded in the barcoded documents.

"The utilization of the barcode in Pag-IBIG housing loan documents will reduce the turnaround time on the annotation process of the RD by as much as 50%," Vice President Jejomar C. Binay, concurrent Chairman of the Pag-IBIG Fund Board of Trustees said.

The new system will also lessen typographical errors as Pag-IBIG will ensure that the data for barcoding will be double-checked. The encoded data will then be populated to the LRA's secure database without the need for the LRA to repeat the encoding process.

Vice President Binay credits Pag-IBIG Fund's and LRA's strong government-to-government partnership for making the agreement possible.

The partnership of the Fund and the LRA on this project started in May 2012, with the agencies agreeing through a Memorandum of Understanding to find ways to improve linkages to make their transaction exchanges more efficient. The final report of the technical study conducted by the LRA and the Land Registration Systems, Inc., the proponent of LRA's land title computerization project, recommended the adoption of the 2D barcode to make Pag-IBIG transactions with the RD and the LRA faster.

"This agreement shows the positive result of the synergy between government agencies, which directly redounds to more benefits for the transacting public," Vice President Binay said.

In June 2013, the LRA also opened an extension office at Pag-IBIG's Housing office along Shaw Boulevard, Mandaluyong City. Aside from providing convenience to members who no longer need to go the office of the RDs to get Certified True Copies of titles, the processing time for the issuance of the same was significantly cut to 20 minutes to 1 day from the previous 2 weeks.

Pag-IBIG and LRA are also presently working on a Centralized Processing Window that will allow the Fund to submit directly to the RDs, housing loan documents needed in the annotation of titles. This agreement, when finalized, will further reduce the time to process housing loan applications. This would also mean convenience on the part of Pag-IBIG clients as it will be Pag-IBIG that will deal with the RDs on their behalf.

"This continuing partnership between Pag-IBIG and LRA is very important to us because through this, we are able to give the best service to the public. We would like to assure our members and the public that we are continuously looking for ways to further improve our services so that all transactions with us are hassle-free and concluded in the shortest time possible,” Berberabe said. (end)

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Pag-IBIG to household employers: register kasambahays by December 2014

03

Mar
2014

The Pag-IBIG Fund has issued a reminder to employers of household workers to register their kasambahays as members of Pag-IBIG Fund by December 29 of this year.

“We want all Filipino workers, including kasambahays, to experience the many benefits of Pag-IBIG membership. That’s why we have been stepping up our efforts to have kasambahays registered with Pag-IBIG and to make such registration as easy and as hassle-free as possible. To give enough time for employers to register their kasambahays, the Pag-IBIG Fund Board of Trustees extended the registration period up to the last working day of 2014. Beyond this date, employers will already be penalized for registering their kasambahays late,” said Pag-IBIG Fund Chairman of the Board, Vice President Jejomar C. Binay. Read more.

Pag-IBIG Fund President and CEO Atty. Darlene Marie B. Berberabe added, “upon registration, employers will be asked to remit the monthly membership contributions of their kasambahay from the first month after the date of employment of the latter, or June 4, 2013 when the Implementing Rules and Regulations of the “Kasambahay Law” took effect, whichever comes later, up to the actual date of settlement. We encourage employers to register their kasambahays before the deadline to avoid penalties on the amount due.”

In December 2013, Pag-IBIG formally launched, with Social Security System and PhilHealth, the Kasambahay Unified Registration System (KURS), a unified system of registering kasambahays and their employers with the three government agencies, as mandated in the “Kasambahay Law.” Registering with one agency now enables the kasambahays and their employers to be registered simultaneously with all three agencies, eliminating the need to go to each of the three agencies to register. The forms required for registration of employers and their kasambahays are downloadable from Pag-IBIG’s corporate website:www.pagibigfund.gov.ph.

“As of January 2014, Pag-IBIG has 22,723 kasambahays among its 13.5 million members. Their Pag-IBIG membership entitles them to benefits such as access to our housing loan and short-term loan programs, as well as to Pag-IBIG’s savings programs,” added Atty. Berberabe.

Employers paying their kasambahay less than P1,500 a month should pay theirkasambahay’s monthly membership contributions to Pag-IBIG equivalent to 3% of the kasambahay’s salary. For employers paying P1,500 to P4,999, they should pay 4% of their kasambahay’s salary.

Kasambahays earning less than P5,000 do not have to pay any contributions with Pag-IBIG because their employers will shoulder their membership contributions. Kasambahays earning at least P5,000 should pay 2% employee or personal share, worth P100. Their employers should also pay 2% employer share, also worth P100. (end)

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Tuguegarao Branch Releases Highest TAV in Pag-IBIG History

10

Feb
2014

Mr. Calubquib receives his provident check in the amount of Php1.2 Million from Mr. Pete Darauay, OIC-Vp, North Luzon Grp., Operations Support.

Pag-IBIG Tuguegarao Branch released to Mr. Juanito Calubaquib, an employee of the City Government of Tuguegarao, the amount of Php 1.2 Million representing his savings over the years as Pag-IBIG member – the highest savings withdrawn in the 33-year history of the Fund. Read more.

This is a result of the effective efforts of the Tuguegarao Branch’s Marketing and Enforcement Group in encouraging members to save money with the Fund by contributing more than the required P100 minimum savings.

Mr. Calubaquib was encouraged to increase his contributions because of Tuguegarao Branch office’s promotion of Pag-IBIG savings as an investment and a secure savings upon retirement.

In February 2005, Mr. Calubaquib started increasing his monthly Pag-IBIG contributions from P100 to P1,900. He continued saving wisely until his contribution reached P20,000 per month in January 2009.

“Mas mabuti ng nai-deposit na dyan kaysa magastos ko pa. At least kumikita siya at pwede kong gamitin in the future,” Mr. Calubaquib said.

His savings with the Fund reached a total of P1.6 Million, with an earned dividends of P234,000.

Mr. Calubaquib said he intends to invest a portion of the amount he received in the Modified Pag-IBIG II Membership program.

Meanwhile, the Marketing and Enforcement Group is relentless in its campaign for increased contributions and Modified Pag-IBIG II membership resulting in Tuguegarao Branch’s consistent Top 3 ranking in MC Collections.

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OEC Processing now available at Pag-IBIG OFW Center

10

Feb
2014

As part of the Pag-IBIG Fund’s continuing efforts to improve its services, the agency partnered with the Philippine Overseas Employment Administration (POEA) to open an Overseas Employment Certificate (OEC) processing desk at the Pag-IBIG OFW Center.

Migrant workers can now apply for their OEC by booking an appointment at www.poea.gov.ph before heading to the processing desk located at the 6th floor of the Pag-IBIG OFW Center housed at the Justine Building along Gil Puyat Avenue, Makati City. Walk-in clients are welcome but priority service is given to those who have scheduled an appointment online. Read more.

The strong partnership between the POEA and Pag-IBIG Fund has proved to be a big help to OFW members, as they can now pay their mandatory Pag-IBIG membership contributions at the POEA prior to the release of their OECs. This is the result of the Collection Servicing Agreement both agencies signed in 2011.

The opening of the OEC Processing Desk at the Pag-IBIG OFW Center now makes the center a true one-stop-shop for all OFW-related services and transactions. The Pag-IBIG OFW Center was established in response to the growing needs of OFW members who, while residing in different parts of the Philippines, mostly conduct their deployment-related transactions in Metro Manila. The OFW Center gives the Fund’s 3.3 million-strong OFW members an integrated, convenient and seamless service such as membership registration, members' savings remittance and verification, issuance of Transaction Cards, acceptance and release of both short-term loans and housing loans, investment in the Modified Pag-IBIG II Program (MP2) and housing bonds, home matching, as well as the Pre-Departure Orientation Seminar (PDOS). The Pag-IBIG OFW Center also serves as an OFW Resource Center with the help of other government agencies and private organizations.

Meanwhile, 35 lucky OFW members won free round-trip tickets, gift checks and the US$10,000.00 grand prize in the grand raffle draw of the Fund’s “Dagdag Ipon” Raffle Promo last January 8. OFW-members who saved at least P300 monthly with the Fund during the contest period automatically received one raffle entry.

“Sa pamamagitan ng raffle promo, hinihikayat namin ang mga OFWs na mag-impok sa Pag-IBIG ng higit sa P100 na siyang halagang nakasaad sa batas. At nakatutuwa namang lubos ang natanggap naming pagtugon mula sa mga OFW members na nagtaas ng kanilang hinuhulog na buwanang ipon sa Pag-IBIG,” said Vice President Jejomar C. Binay, concurrent Chairman of the Pag-IBIG Board of Trustees.

He added, “Sa katotohanan, wala na nga yatang naghuhulog ng P100 lamang. Ilang OFWs pa nga ang naghulog ng matataas na halaga gaya ng $3,000 hanggang $4,000. Katumbas ng mas mataas na buwanang Pag-IBIG savings ang mas mataas na ipon at mas malaking halagang maaaring mahiram sa mga loan programs ng Pag-IBIG.”

“This raffle promo proved effective in instilling a savings culture among our OFW members. Members now see the many benefits available to them when they save more with the Fund, not only by way of dividends but also through higher loanable amounts. Walang ibang hangarin ang Pag-IBIG Fund kundi makatulong sa mga miyembro sa pagpapatibay ng kanilang pinansyal na pundasyon tungo sa matagumpay na bukas,” said Pag-IBIG President Atty. Darlene Marie B. Berberabe.

Indeed, through the raffle promo, OFWs are now saving more with Pag-IBIG, with a total of 24,254 OFW members voluntarily saving P300 to P172,000 per month, or an average of P2,231, much higher than the monthly mandatory contribution of P100.

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Pag-IBIG Fund opens Muntinlupa Branch

10

Feb
2014

The new Pag-IBIG Muntinlupa Branch office. Leading the ribbon cutting ceremony are (l-r): Pag-IBIG President Atty. Darlene Marie B. Berberabe, Pag-IBIG Makati III Branch Manager Olivia V. Zerrudo,and Pag-IBIG OIC-Deputy Chief Executive Officer for Provident Operations Cluster Ophelia Dela Cerna. Read more.

As part of its ongoing efforts to bring Pag-IBIG services closer to its members, the Pag-IBIG Fund recently opened its Muntinlupa Branch office located at the 3rd floor Sycamore ARCS1 Building, Buencamino St., Alabang-Zapote Road, Muntinlupa City. Headed by Mr. Romeo H. Ocampo, the branch covers nine out of the 47 barangays in Muntinlupa under the Makati III branch office. The nine barangays are: Alabang, Ayala Alabang, Bayanan, Buli, Cupang, Poblacion, Putatan, Sucat, and Tunasan. Pag-IBIG President Atty. Darlene Marie B. Berberabe led the inaugural ceremony.

“Pag-IBIG’s mantra is Bigger, Better, Faster. The directive of Pag-IBIG Board Chairman, Vice President Jejomar C. Binay, is to make our services accessible and closer to our hardworking members. Thus, we are working on expanding our presence in more cities and municipalities all over the Philippines,” said Atty. Berberabe.

The Muntinlupa Branch accepts payments of membership savings from both employers and individual payors, as well as payments under the Modified Pag-IBIG 2 Program. It also accepts Housing Loan amortization payments, provided that the borrower presents the Official Receipt of his last payment or the Payment Order Form. Members can also file their membership applications, and applications for Housing, Multi-Purpose, and Calamity Loans at the branch.

The Pag-IBIG Muntinlupa Branch is the first branch to open in 2014. It services more than 2,300 employers with a total membership of 137,261. Currently, Pag-IBIG has 63 branches nationwide and 19 posts abroad, with more to be opened this year.

Aside from Atty. Berberabe, also in attendance at the opening were Pag-IBIG OIC-Deputy Chief Executive Officer for Provident Operations Cluster Ophelia Dela Cerna, Pag-IBIG Vice President for Provident Operations-NCR South Group Erlinda M. Francisco, Pag-IBIG Makati III Branch Manager Olivia V. Zerrudo, Muntinlupa Vice Mayor Artemio Sumindac, Muntinlupa Community Affairs Head Danidon Nolasco, and the Office of the City Administrator’s Legal Officer Atty. Genesi M. Santiago.

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Pag-IBIG Chairman VP Binay delivers first ever Fund report to its stakeholders

15

Jan
2014

As part of the Pag-IBIG Fund’s continuing efforts to improve its services, the agency partnered with the Philippine Overseas Employment Administration (POEA) to open an Overseas Employment Certificate (OEC) processing desk at the Pag-IBIG OFW Center.

“With the help of our stakeholders and partners, Pag-IBIG Fund is now one of the most profitable government corporations and the biggest key shelter agency in the country. We wanted to report to our stakeholders what we have accomplished in this midterm report," said Binay, who also heads the Housing and Urban Development Coordinating Council (HUDCC). Read more.

Since 2010, the Fund has implemented innovative programs that adhere to good corporate governance principles in a bid to make it more accessible and more responsive to the needs of its members. As a result, membership rose by 5.3 million, bringing the total number to 13.5 million members by the end of 2013. Members’ savings also jumped in the last three years. The agency collected P82.3 billion in savings during this period.

In 2013, Pag-IBIG Fund posted a net income of P16.25 billion, which is comparable to the net income of the country's biggest banks. Total assets of the agency amounted to P345.7 billion by year-end.

“With such robust financial standing, our members have the most to gain. They can be assured that their savings are secure, and bigger profits bring bigger dividends to them. As per our projection, we may declare P10.03 billion in dividends for 2013. Dividends are credited annually to each member’s account,” Binay added.

Pag-IBIG’s current stellar standing is supported by the enhanced loan programs implemented in the previous years. In 2012, the agency doubled the home loan amount from Php3 Million to Php6 Million, and dropped interest rates of the affordable housing loan and calamity loans to record lows of 4.5 percent and 5.95 percent, respectively.

The Fund was able to maintain a high Performing Loan (PL) ratio for the past 3 years, averaging 87.66%. The accomplishment is credited to the enhanced collection mechanisms introduced by Pag-IBIG last year, including the outsourcing of payment collections for delinquent accounts. As a result, Pag-IBIG, has collected a total of P3.356 billion in housing loan payments from accounts that were previously non-performing, for the year 2013.

Service channels were also expanded. In 2013, Pag-IBIG Fund opened more branches in key locations. Pag-IBIG’s offices ballooned to 62 from only 38 in 2012. The agency also widened its presence in shopping malls by opening 14 service desks in different malls nationwide. Some town halls also house Pag-IBIG Fund desks. The agency also forged collection agreements with leading banks and payment centers so that members can pay their savings and amortizations wherever convenient to them.

These initiatives and policies have led to the Fund’s being recognized by various bodies. The agency earned its ISO 9001: 2008 Certification in 2011, 2012 and 2013. It earned an Excellent rating from the Civil Service Commission (CSC) for five of its branches in the 2013 Anti-Red Tape Act survey, and the Commission on Audit (COA) granted Pag-IBIG Fund an “unqualified opinion”, assuring the public that the agency's financial statements has complied with existing state financial policies and guidelines.

“In 2010, when the new board and management assumed office, there was already a board-approved resolution to increase the monthly contribution, since the P100 contribution rate has been the rate since the 1980s. However, our Chairman engaged us in a discussion on the timeliness and propriety of the strategy to increase the Fund at that time. He then proposed to increase the membership base first in order to increase the contributions; to improve our collection platform to makes sure that we not only disburse funds to lend to our members, but equally important, we also collect the loan amortizations, so that the Fund can be sustained; and lastly, to improve our benefits and services so that our members will choose to continue to contribute, or to save, with the Fund. These directives have guided us for the last three years, and we have adopted the mantra: Let us work for a bigger, better, faster Pag-IBIG Fund,” Pag-IBIG President and Chief Executive Officer Atty. Darle

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Pag-IBIG clarifies COA report on bonus

15

Jan
2014

Pag-IBIG President and CEO Atty. Darlene Marie B. Berberabe has clarified news reports of Commission on Audit (COA) disallowances to 31 government-owned and/or controlled corporations, including the Pag-IBIG Fund, after the delivery of the midterm report to Pag-IBIG Fund stakeholders at the SMX Convention Center this morning (January 15).

Atty. Berberabe said that the P37 Million subject of the COA report pertains to separation pay of employees who retired from the Fund in 2012. The basis of COA in disallowing the payment of separation pay to these employees under the Fund's early retirement program, is the supposed double payment of retirement pay because the Government Service Insurance System (GSIS) will also pay out retirement benefits to them after their separation from Pag-IBIG. Read more.

Atty. Berberabe explained that "in the COA exit conferences, we have been closely discussing this issue, and our position is that the payment should not be disallowed because what the concerned employees received from the Fund are not retirement but separation benefits, while what they will receive from the GSIS are retirement insurance benefits for which they paid monthly premiums. Besides, when these employees received their separation benefits from the Fund, they have not yet received their retirement claims from the GSIS so there was no double retirement payment. Moreover, it is the GSIS that determines whether the employees concerned are qualified to receive GSIS benefits. Given this, the Fund shall request the COA to reconsider its position on this issue.”

"Therefore, the COA report does not pertain to bonus or incentive to employees or officers or board members. It pertains to separation pay under our early retirement program. Second, we have a legal position that at the time that we paid the separation pay, there was no double payment, thus we will move for the reconsideration of COA’s findings." Atty. Berberabe further clarified. (END)

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