The Home Development Mutual Fund, also known as Pag-IBIG Fund, has announced plans to raise its member contributions starting in February 2024. In a recent phone interview with Pag-IBIG Fund, it was revealed that both employees and employers will see their monthly contributions increase from the current minimum of P100 to P200 each.
According to Pag-IBIG officials, this adjustment is being implemented to ensure the sustainability of the fund and to better serve the needs of its members. The total monthly contribution for both employees and employers will now amount to P400.
When asked about the rationale behind this increase, Pag-IBIG stated, “The increase is intended to sustain the needs of Pag-IBIG members. With the adjustment in regular contributions, Pag-IBIG members will continue to benefit from the fund’s services.”
It was further explained that higher savings with Pag-IBIG will lead to larger earnings for members, emphasizing that the increase will ultimately benefit the members in the long run.