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)
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
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!
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October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
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