Pag-IBIG offers condonation

by Manila Standard, Sep 21, 2018

Pag-IBIG Fund is offering a one-time opportunity for delinquent and unregistered employers who were previously disqualified from availing themselves of the Fund’s penalty condonation programs to settle their obligations.

“Among President Rodrigo Duterte’s directives is prioritizing workers’ benefits. It is important that Filipino workers enjoy government benefits like those from Pag-IBIG Fund,” said Pag-IBIG Fund Board of Trustees and Housing and Urban Development Coordinating Council Chairman Eduardo del Rosario.

Pag-IBIG Fund chief executive officer Acmad Rizaldy Moti added, “The ongoing Penalty Condonation Program or PenCon is specific to employers who deducted their employees’ monthly members’ savings but did not remit these to Pag-IBIG Fund. We encourage these employers to take advantage of the PenCon and comply with the program, and enable their employees to avail of Pag-IBIG Fund benefits and services.”

The Penalty Condonation Program gives employers the opportunity to comply with the mandate of Republic Act 9679, or the Pag-IBIG Fund Law of 2009, to register their employees with Pag-IBIG Fund and remit their employees’ members’ savings. Also covered under this program are employers who have pending applications for the plan of payment.

Employers who opted for the plan of payment will be granted a discount on the total assessed penalties.

A 70 percent discount on the TAP will be given to employers who will fully settle their total unremitted monthly mandatory savings, deprived dividends, and the remaining 30 percent of the TAP.

Other employers who signified their intent to pay in full but later on opted for a plan of payment will be granted discount based on the settlement term.