Effects of RA 9679 on OFW Pag-IBIG members

How does my POP membership differ from that under RA 9679?

The Pag-IBIG Overseas Program is entirely different from Pag-IBIG I. POP was a voluntary savings scheme for Filipinos abroad while membership under Pag-IBIG I is mandatory for Filipinos working abroad by virtue of RA 9679.

Do I have the option not to register under Pag-IBIG I since I am already a POP member?

Under RA 9679, all Overseas Filipino Workers are required to register under Pag-IBIG I, regardless if they are POP members or not. Other POP members (immigrants and those naturalized in other countries) may register voluntarily under Pag-IBIG I.

I am an OFW and a POP member as well, do I have the option to stop my POP membership and re-register for Pag-IBIG I membership instead?

Yes, you may discontinue your POP membership, provided you do not have an existing housing loan with Pag-IBIG Fund.

Can I continue with my POP membership and be a member under RA 9679 simultaneously?

Yes, a POP member is required to register under Pag-IBIG I but, at the same time, he may also opt to continue his POP membership.

When can I withdraw my POP TAV if I stop my POP contributions and register under RA 9679?

POP TAV may be withdrawn at point of maturity of POP membership.

Will my POP TAV and TAV under RA9679 be merged?

No, your TAV under both programs shall be kept separate. Your POP TAV will be released to you upon maturity of term even if your Pag-IBIG I membership is not yet due for release.

source:  www.pagibigfund.gov.ph

Mga Katanungan ng OFW tungkol sa Pag-IBIG Fund

Lahat ba ng OFWs ay sakop ng mandatory coverage ng RA9679?
Oo. Ayon sa RA 9679 at Implementing Rules and Regulations nito, kailangan magparehistro sa Pag-IBIG ang lahat ng OFWs, maging land-based o sea-based (marino o nagtatrabaho sa loob ng barko) man.

Sakop bilang miyembro ang isang marino pagkatapos nyang pumirma ng kontrata sa kanyang ahensiya o manning agency na tumatayo bilang employer, ganun din ang dayuhang may-ari ng barko. Bilang employer, mag-aambag ang ahensya ng kaukulang bahagi na dalawang porsyentong kontribusyon, base sa buwanang kita ng marino.

Samantala, kinakailangang magparehistro ng mga landbased OFW bago sila umalis ng Pilipinas o bago bumalik sa kanilang trabaho. Ang mga kasalukuyang nasa ibang bansa ay maaari ring magparehistro sa mga Pag-IBIG Posts.

Bakit kasama ang OFWs sa mandatory membership coverage?
Lahat ng nagtatrabahong Pilipino, sa Pilipinas man o sa ibang bansa, ay dapat magkaroon ng pantay na pagkakataon na makinabang sa lahat ng benepisyong programa ng Pag-IBIG. Ginawang mandatory ang membership ng OFWs upang mabigyan sila ng pagkakataon na mag-impok at maabot ang kanilang pangarap na magkaroon ng sariling bahay.

Paano magpa-rehistro ang OFWs sa ilalim ng mandatory coverage?
Pwedeng magpa-rehistro ang OFWs sa mga sumusunod:
• Pag-IBIG desks na matatagpuan sa Embahada o Konsulado ng Pilipinas sa labas ng bansa
• Pag-IBIG Fund International Operations Group, 6th Floor, Justine Bldg., Gil Puyat Avenue, Makati City
• Kahit saang branch o opisina ng Pag-IBIG sa Pilipinas
• Pag-IBIG satellite office sa Philippine Overseas Employment Agency (POEA)
• Piling banko at remittance agencies na kinikilala ng Pag-IBIG tulad ng PNB, Metrobank at iRemit Global Remittances Inc.

 Papaano ang proseso sa pagpapa-rehistro para sa mga dati nang miyembro ng Pag-IBIG sa ilalim ng Pag-IBIG Overseas Program (POP)?
Pwedeng bumisita ang OFW sa mga Pag-IBIG Information Desk na naka base sa Embahada o Konsulado ng Pilipinas upang mag fill out ng Member’s Data Form (MDF-FPF0909) o Membership Registration Form (MRF-FPF095). Kung nasa Pilipinas siya, maaaring pumunta sa pinakamalapit na opisina.

Kailangan din mag-update ng kanilang record, lalo na kung may mga naging pagbabago sa kanilang personal na impormasyon.

Maaaring i-download sa website ng Pag-IBIG ang MDF at MRF. http://www.pagibigfund.gov.ph/downloadable.aspx

Kung ang isang dati nang miyembro ay magpapa rehistro bilang OFW, ano ang mangyayari sa kanyang kontribusyon?
Pagsasamahin ng Pag-IBIG ang lahat ng kanyang kontribusyon pati ang dati na niyang naihulog. Portable o mananatiling nasa pangalan ng miyembro ang kanyang impok, magpalipat-lipat man siya ng kompanya. Sinisiguro ng Pag-IBIG na ligtas at hindi mawawala ang impok ng miyembro.

Ano ang kapakinabangan ng isang miyembro ng Pag-IBIG?
A. Kapakinabangan ng Ipon
• Walang buwis na ipapataw sa ipon ng miyembro
• Kikita ng karampantang dibidendo na taunang idinadagdag sa ipon ng miyembro
• Nanatili ang ipon sa pangalan ng miyembro kahit lumipat siya ng kompanya, mawalan ng trabaho, o maging self-employed
• Garantisado ng gobyerno ang ipon, na mababayaran at maisasauli ang mga naihulog na kontribusyon ng miyembro anuman ang mangyari sa Pag-IBIG.

BuwanangHulog Kabuuang impok pagkatapos ng 20 taon kung ang itinakdang dividend rate Pag-IBIG Fund ay 5%
P 100 P 31,419.33
P 300 P 94,259.79
P 400 P 125,679.72
P 1,000 P 314,199.29
P 1,200 P 377,039.15

B. Short-Term Loans (Multi Purpose at Calamity Loans)

Pwedeng umutang para sa mga biglaang pangangailangan bilang pambayad ng tuition, minor home repair, kapital para sa negosyo at iba pa.

Ang sumusunod ay halimbawa kung magkano ang maaring hiramin sa ilalim ng Multi-Purpose Loan (MPL) Program.

Buwanang Impok/Kontribusyon Bilang ng Buwanang Impok Maaaring Mahiram sa Multi-Purpose Loan*
P100 hanggang P300 24 hanggang 60 na buwan 61 hanggang 120 na buwan P1,440 hanggang P10,800 P4,270 hanggang P25,200
P400 hanggang P600 24 hanggang 60 na buwan 61 hanggang 120 na buwan P5,760 hanggang P21,600 P17,080 hanggang P50,400
P700 hanggang P900 24 hanggang 60 na buwan 61 hanggang 120 na buwan
P10,080 hanggang P32,400 P29,890 hanggang P75,600

P1,000 hanggang P1,200 24 hanggang 60 na buwan 61 hanggang 120 na buwan P14,400 hanggang P43,200 P42,700 hanggang P100,800
* Ang computation na ito ay base sa employee at employer contributions lamang, at hindi kasama ang taunang dibedendong kikitain ng iyong impok

C. Pondo para sa Pabahay (Housing Loan)

Maaaring gamitin ang housing loan para sa alinman sa mga sumusunod:

• pagbili ng lupa;
• pagbili ng bahay;
• pagpapatayo o pagpapatapos ng bahay;
• pagpapaganda o pagkukumpuni ng bahay;
• pag refinance ng pagkaka-utang mula sa isang bangko na katanggap-tanggap sa Pag-IBIG Fund; at
• kumbinasyon ng mga nasabi.

Loan Package Interest Rate Buwanang Hulog*
P400,000
6% P2,398.20
P750,000 7% P4,989.77
P1 Million 8.5% P7,689.13
P1.25 Million 9.5% P10,510.68
P2 Million 10.5% P18,294.79
P3 Million 11.5% P29,708.74
*Principal and interes lamang

Buwanang Impok/Kontribusyon Employer Counterpart Pinakamataas na maaaring mahiram
P100 hanggang P300
P100 Hanggang P700,000
P400 hanggang P600
Higit sa P800,000 hanggang P1.3 milyon
P700 hanggang P900 Higit sa P1.4 milyon hanggang P1.9 milyon
P1,000 hanggang P1,200 Higit sa P2.0 milyon hanggang P2.5 milyon

Magkano ang contribution rate?
Ang kontribusyon ng lahat ng miyembro, kasama ang OFWs, ay base sa sumusunod:

Buwanang kita Porsyento ng buwanang kita
Kontribusyon ng Empleyado o miyembro Katumbas ng Kontribusyon ng Employer (kung meron)
P1,500 and below One percent (1%) Two percent (2%)
P1,500 Two percent (2%)

Limang libong piso (P5,000) ang buwanang kita na ginagamit sa pagkuwenta ng kontribusyon. Ibig sabihin, parehong nasa P100 ang pinakamataas na hulog ng miyembro at ng kanyang employer. Gayunman, pwedeng dagdagan ng miyembro ang kanyang hinuhulog kada buwan para sa mas malaking ipon. Kung walang employer ang isang miyembro, maaari niyang akuin o bayaran maging ang employer counterpart.

source: www.pagibigfund.gov.ph

Why Invest in Real Estate?

In this age of high technology and instants, everything seems fleeting. Economic recession is felt and relationships collapse. Nothing appears to be permanent and no one seems to be trustworthy enough of one’s confidence. The search for security is more intense yet it becomes more elusive. As a result, practicality has become a good escape from these transient happenings.

Of the few possible choices for permanence and security, real estate property seems to stand out among others. Investing in real estate is literally investing in something that is permanently grounded or stable because it refers to a specific spot whether a piece of land or residence or building. The three major benefits of investing in real estate are: real estate property appreciates; real estate property lasts; and real estate property is a good legacy.

Real estate property appreciates. There is no doubt that even if economic recession is experienced by the United States and felt all over the world, investing in real estate remains a promising venture. The value of land increases as the location becomes more urbanized. For instance, an apartment constructed in a commercialized area will naturally appreciate due to the increase in population and tenants. In addition, as the commercial and urban areas expand, the adjacent sites are also affected. The same principle applies with farm lands since more organic foods are becoming in demand, farm land value is also positively affected.

Real estate property lasts. Nothing lasts forever; but undeniably, real estate lasts longer than other properties. Other items may “wear and tear” but a piece of land will remain for a much longer time. It remains amid flood and fire; earthquakes and hurricanes; and even tsunami and storm surge. Even if the structures you have erected on your land gets destroyed, the land will remain and can still be used for similar or other purposes.

Real estate property is a good legacy. Real estate can also be a good item to leave and give to your children and descendants. Because it lasts and appreciates, nothing can be of more meaning and value than this piece of property. Your children and your children’s children will surely be grateful to you for leaving them an inheritance that costs more than anything else in the world.

It is about time that people shift their outlook regarding material things. Cars can be destroyed; money and jewelry can be lost or stolen; but a piece of land, when tilled and cared for properly will continue to serve its owner in ways that no other thing can surpass.

Tips on Buying a Condo Unit

Urban living has changed the course of housing ideas. Narrow hallways, tiny units, and high-rise buildings have become the sites of homes for many individuals in the fast-paced city life. Practicality has been one of the reasons why many people thrive in this setting. Living near their workplace eliminates a lot of stressors.

If you are in the aforementioned situation, you can still make the most of it. There are at least three things that you should consider in buying a condominium unit. Location; safety; and price can be chosen according to your need and in order to make your life a little stress-free.

Location. It is a given that you choose to live within the vicinity of your workplace but you still have the option of finding the right place for you. Do not just buy a unit that is available. Choose one that will bring you some advantage. Choose one that is away from the elevators so that you will be free from unnecessary disturbance; make sure you have some ventilation and sunlight; seek sites near fire exits for emergency purposes, and select lower floors in case the elevators won’t work.

Safety. Your safety is of prime importance. See to it that the way from work to your condominium is free from threatening sites and people. You may be going home late sometimes so it would be a relief to walk unafraid. Most importantly, you must have enough knowledge about your prospective neighbors. You may ask your agent or the building personnel about them because although you may not need to befriend your neighbors you would not want to be living with unknown and suspicious individuals.

Price. Condo units vary in price depending on the size and location of the unit. Make sure that you do not only buy a unit that is affordable but one that is more than your money’s worth. Do a little research, investigate and canvass. Seek advice from friends and other residents. It is always wise to plan ahead long before you even buy a condo unit. Do not ever buy a unit simply because you need one or because it is on a discounted price. Usually, decisions made in haste or out of impulse can cause you future regrets and unnecessary stress.

Living in condo units may not be at all ideal but wise planning and selection can give you advantages more than you can expect. By befriending your agent and the building personnel, you can gain extra help and tips from these people. They are more knowledgeable about the ins and outs of the building so you can be more informed and even forewarned.