Hongkong-based workers are keen in joining the home development mutual fund under its expanded coverage, according to Vice President Noli de Castro citing a report from Pag-Ibig Fund officials.
Led by Jaime Fabiana, chief executive officer, Pag-Ibig officers met with leaders of the Filipino community in Hong Kong last Jan. 30 in the first in a series of meetings with workers to inform them on the new law that makes it mandatory for all employees to join the fund.
“The positive response of our OFW leaders to the Fund’s expanded coverage was overwhelming,” Fabiana said in a report to De Castro, also chairman of the Pag-Ibig board of trustees.
The report said that hundreds of Filipinos flocked to register at the iREMIT registration center and at the Philippine Consulate General where the Pag-IBIG information desk is based.
Under the new law, new members will contribute a minimum of P100 a month, much lower than the $5 minimum required by the old law. “Majority of the new registrants in Hong Kong paid for their contributions that are good for at least three months, while some paid for the entire year,” Fabiana pointed out.
Under Pag-IBIG’s universal or expanded membership coverage, all Filipino workers, and Filipinos employed by foreign-based employers, whether deployed in the country or abroad, are mandatorily covered beginning January 2010. Also covered are employees who are members of the SSS and GSIS, uniformed members of the Armed Forces, Bureau of Fire Protection, Bureau of Jail Management and Penology and National Police. Pag-IBIG has 7.4 million members, so far.
Members’ contributions are credited to their savings or the total accumulated value that earn dividends and fully guaranteed by the national government. In 2009, Pag-IBIG declared tax-free dividends amounting to P8.5 billion with a dividend rate of 5 percent.
“At this dividend rate, a member will generate savings amounting to P40,753 if he contributes P100 monthly for 20 years; P81,507 if he contributes P200; and P203,768 at P500 a month. –Manila Standard Today
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
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