OFWs’ Contributions ‘Safe and Secure’

Manila, Philippines — The Home Development Mutual Fund (Pag-IBIG Fund) has assured overseas Filipino workers (OFWs) that their contributions to the Fund are “safe and secure” despite job transfers abroad as it also encouraged inactive members to reactivate their membership.

“Ina-asure namin na yung contributions nila with the Fund ay talaga namang safe and secure at kahit magpalipat-lipat sila ng empleyo, nawalan ng trabaho, magkaron ng trabaho, makukuha nila sa takdang panahon,” Pag-IBIG Fund Vice President for Public Relations and Information Services Group Margie Jorillo said on NBN-4’s program “Bantay OCW.”  [“We assure OFWs that their contributions with the Fund are indeed safe and secure even when they transfer from one job to another, or when they get hired after a retrenchment.”]

Jorillo also said OFWs who have discontinued their membership with Pag-IBIG Fund may still have their account consolidated. She called on inactive members to reactivate their membership.

“Upon your reactivation, ibigay mo lang yung employer mo and period of employment, madali namang ma-reconcile at ma-consolidate,” Jorillo said. [“Just provide us the name of your employer and the period of employment and it will be easy to reconcile and consolidate your membership.”]

She said that Pag-IBIG Fund has information officers in various Philippine embassies abroad, where OFWs can ask for further details and assistance. She also reminded that Pag-IBIG membership among OFWs has been mandatory since January of this year.

“Ang konsepto ng Pag-IBIG, para sa takdang panahon, meron kang huhugutin kahit papano,” Jorillo said. [“The concept of Pag-IBIG is for Filipinos to somehow obtain funds especially when they need it most.”]

Vice President and housing czar Jejomar C. Binay had earlier assured that Pag-IBIG members’ funds are protected and are unaffected by the issue hounding Globe Asiatique Realty Corp. He also directed Pag-IBIG Fund to put in place additional safeguards to protect the funds.

“The Pag-IBIG Fund remains firm in its commitment to protect its members’ hard-earned savings. Our members need not worry about the safety of their savings. Their funds are intact, and will remain under their names and will be lent or released only to them for their benefit,” Pag-IBIG Fund officer-in-charge (OIC) Emma Linda Faria said.

“Pag-IBIG is still on track in meeting its income/dividend targets for the year 2010,” she said, adding that the Fund will continuously review existing Pag-IBIG guidelines and policies “to further strengthen internal audit processes and enhance risk management measures.” –MADEL R. SABATER, Manila Bulletin