MANILA, Philippines – Trade Union Congress of the Philippines, the largest labor group in the country, rejected yesterday the proposal of the Home Development Mutual Fund (Pag-IBIG) to increase its membership contribution rate, saying the move would be an additional burden to the housing fund’s 7.4 million members.
“Offhand, the contemplated increase in contribution rates is uncalled-for. It should be studied extensively. There should be adequate public consultations on the matter,” TUCP secretary-general and former Senator Ernesto Herrera said in a statement.
He said instead of increasing its membership fee, the state-run mutual fund should aggressively expand its membership to strengthen its financial capability.
Last week, Pag-IBIG chief executive officer Jaime Fabiaña announced that the fund would raise its contribution rates to increase loan amounts
for members, and support the higher borrowing packages under its housing finance program, while still ensuring the long-term stability of the fund.
Under Republic Act 9679 or the Home Development Mutual Fund Law of 2009, the Pag-IBIG Board of Trustees can set the members’ contribution rate.
Pag-IBIG members contribute two percent of their monthly earnings, with the salary ceiling fixed at P5,000. Thus, members contribute only P100 monthly whether they are earning P5,000 or P50,000 every month. –Mayen Jamaylin (The Philippine Star)
March –
IT’S WOMEN’S MONTH!
“Respect and support women
every day of the year/s!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
Monthly Observances:
Women’s Role in History Month
Weekly Observances:
Week 1: Environmental Week;
Women’s Week
Week 3: Philippine Industry and “
Made-in-the-Philippines Products Week
Last Week: Protection and Gender-Fair Treatment
of the Girl Child Week
Daily Observances:
March 8: Women’s Rights and
International Peace Day;
National Women’s Day
March 4: Employee Appreciation Day
March 15: World Consumer Rights Day
March 18: Global Recycling Day
March 21: International Day for the Elimination
of Racial Discrimination
March 23: International Day for the Right to the Truth
Concerning Gross Human Rights Violations
and for the Dignity of Victims
March 25: International Day of Remembrance of the
Victims of Slavery and the Transatlantic Slave Trade
March 27: Earth Hour
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
