Pag-IBIG FUND PROGRAMS AND SERVICES FOR OVERSEAS IN

1. Membership Coverage

With the implementation in January 2010 of Republic Act No. 9679 (RA 9679), also known as the Home Development Mutual Fund Law of 2009 (HDMF Law of 2009), mandatory Fund Coverage has been expanded to include overseas Filipino workers (OFWs). Voluntary membership is also open to all Filipino immigrants, Filipinos naturalized in other countries, and permanent Filipino residents abroad. As of May 2016, Fund membership stands at 16.4 million, of which 4.4 million or 27% are .

2. Membership Savings

2.1 Pag-IBIG I Savings Program

With an average of 4% annual dividend rate, member’s savings under the Pag-IBIG 1 Savings Program allows Overseas Filipinos to grow their hard-earned money bigger than what it would earn in banks. In 2015, Pag-IBIG declared 4.83% dividend earnings, or amounting to PhP14.14 Billion which were credited proportionately to the members’ accounts, tax-free.

Sample Computation of Pag-IBIG I Savings Monthly Savings Total Savings in 20 Total Savings After 20 Years @ years 4% Dividend Rate* (PhP) (PhP) (PhP) 200.00 48,000.00 73,015.85 600.00 144,000.00 219,047.55 1,000.00 240,000.00 365,079.24 3,000.00 720,000.00 1,095,237.73 *may vary year-after-year

2.2 Modified Pag-IBIG 2 (MP2) Savings Program

The Modified Pag-IBIG 2 (MP2) Savings Program is a voluntary savings program with higher annual dividend rate than that for Pag-IBIG 1. In 2015, the dividend rate for MP2 was 5.33%. Under this program, members may contribute or save a minimum of PhP500 each month over a period of 5 years. The dividend earnings are free from 20% withholding tax.

Sample Computation of MP2 Savings (Monthly Remittance) Monthly Total Savings in Total Dividends Total Accumulated Savings 5 Years Earned @ 4.5%* Savings in 5 Years (PhP) (PhP) (PhP) (PhP) 5,000.00 300,000.00 36,243.50 336,243.50 10,000.00 600,000.00 72,486.99 672,486.99 15,000.00 900,000.00 108,730.49 1,008,730.49 20,000.00 1,200,000.00 144,973.99 1,344,973.99 2 . Sample Computation of MP2 Savings (One-Time Remittance) 2 Total Savings in Total Dividends Total Accumulated M 5 Years Earned @ 4.5%* Savings in 5 Years o (PhP) (PhP) (PhP) d 300,000.00 73,854.58 373,854.58 i 600,000.00 147,709.16 747,709.16 900,000.00 221,563.74 1,121,563.74

1,200,000.00 295,418.33 1,495,418.33 * may vary year-after-year

3. Short-Term Loan Programs

Multi-Purpose Loan (MPL) Program

Pag-IBIG Fund answers to the member’s immediate financial needs such as hospitalization/ medication, tuition fee, start-up capital for small businesses, etc through the Multi-Purpose Loan Program. This loan will be repaid over a maximum period of twenty-four (24) months and bears an interest rate of 10.75% per annum.

Loan Entitlement No. of Contributions Loan Amount 24-59 months Up to 60% Total Accumulated Value 60-119 months Up to 70% Total Accumulated Value At least 120 months Up to 80% Total Accumulated Value

Calamity Loan Program

The Calamity Loan Program aims to provide financial assistance to Pag-IBIG Fund members who have been victims in calamity-stricken areas, pursuant to the directive of the President of the . It has a reduced interest rate of 5.95% from the previous 10.75% and a loanable amount of 80% of the total savings.

4. Home Lending Programs

Home-ownership has also been made simpler and more economical for Pag-IBIG Fund members. The maximum loan amount has been increased from PhP3 Million to PhP6 Million, with interest rates as low as 5.5% per annum for the regular housing loan packages. Under the Affordable Housing Loan Program for minimum wage earners, interest rates are 4.5% and 6.5% per annum, depending on the monthly salary and place of residence of the borrower. Pag-IBIG Fund also offers the longest repayment period of up to 30 years.

The Pag-IBIG housing loan may be used to finance any one or combination of the following:

. Purchase of fully-developed lot or adjoining lots not exceeding 1,000 square meters, which should be within a residential area . Purchase of a residential house & lot, townhouse or condominium unit, inclusive of a parking lot . Construction or completion of a residential unit on a lot owned by the member . Home improvement . Refinancing of an existing housing loan with an institution acceptable to the fund; provided that the account reflects a perfect repayment history for at least one (1) year prior to date of application as supported by the borrower’s official receipts . Combination of loan purposes, limited to the following: . Purchase of a fully-developed lot not exceeding 1,000 square meters and construction of a residential unit thereon . Purchase of a residential unit, whether old or new, with home improvement . Refinancing of an existing mortgage with home improvement . Refinancing of an existing mortgage, specifically a lot loan, with construction of a residential unit thereon.

To allow more OFWs to scout for their dream house in the Philippines even when they are abroad, Pag-IBIG Fund’s Home Matching Program was created to provide information on available housing units from the Fund’s inventories of its acquired assets and those of accredited developers that will match the OFW’s financial capability and preference. To complement the said facility, Pag-IBIG Fund also participates in housing fairs held locally and overseas.

5. Pag-IBIG Fund Loyalty Card

The Pag-IBIG Fund Loyalty Card serves as a Pag-IBIG Fund Transaction Card and can be used as one of the basic requirements and acceptable identification in applying for Multi-Purpose Loan (MPL), Housing Loan (HL), and Provident Benefits Claim. The card will also make Pag-IBIG Fund transactions more secure as it contains the member’s picture, signature, Pag-IBIG Fund Membership ID (MID) Number, and biometric information.

The Pag-IBIG Fund Loyalty Card also provides discounts on medicine, tuition fee, travel, beauty and wellness services, and reward benefits on groceries and fuel through Pag-IBIG Fund’s many partner-establishments.

6. Pag-IBIG Fund Expanded Raffle Promo

The Pag-IBIG Fund Expanded Raffle Promo is open to all qualified Pag-IBIG Fund members, both local and overseas Filipinos, with Pag-IBIG I Membership Savings (MS) remittance of at least PhP600.00 per month. The promo runs from 01 May 2016 to 31 March 2017.

To join the raffle promo, the member will observe the following:

1. Remit the required monthly MS of at least PhP600.00. 2. Go to the Pag-IBIG Fund website at www.pagibigfund.gov.ph and click the “Pag-IBIG Expanded Raffle Promo” banner/icon. 3. Enter the Pag-IBIG Fund Membership Identification (MID) Number and required information.

Notes:

a. The Pag-IBIG Fund MID Number should be the same as the one used when the required MS was remitted. b. Upon successfully joining the raffle promo, the member will receive an email notification.

For every PhP600.00 MS remitted per month, one (1) electronic raffle number will be issued through email. Upon joining the raffle promo through the Pag-IBIG Fund website (one time registration only) and upon validation of the initial remittance required, one (1) BONUS electronic raffle number will also be issued to the member through email.

The following prizes await the lucky winners:

 Samsung S-7 Edge and Monthly Draw, Preliminary Draw, & Grand Draw MacBook Pro Retina  PhP250,000.00 and Preliminary Draw & Grand Draw PhP500,000.00  One Million Pesos Grand Draw

7. Enhanced e-Services

To reach out to a greater number of Filipino workers in every corner of the world, Pag- IBIG Fund has enhanced its e-services to include:

 Online membership registration  Online housing loan application  Housing loan payment verification  OFW members’ savings verification

To access the above-mentioned e-services, visit www.pagibigfund.gov.ph.

Pag-IBIG Fund established a 24/7 contact center to attend to queries of members, including OFWs. Services cover the following contact points: calls at the Pag-IBIG hotline (63-2)724-4244 (call charges apply), chat at the chat link located at www.pagibigfund.gov.ph, and email to [email protected]. A dedicated email address, [email protected], was also created to ensure that all email queries from OFWs are likewise attended to immediately.

Likewise, Pag-IBIG Fund has forged and implemented collection servicing agreements with over 400 banks and remittance companies worldwide. Recently, the online payment via Visa and MasterCard credit cards was launched. This facility conveniently allows members to remit their monthly Pag-IBIG Fund savings anytime, anywhere. The e- services complement Pag-IBIG Fund’s 23 overseas desks in countries with high concentration of overseas Filipinos, and 113 branches in the Philippines.

8. Payment Facilities in Kuwait

Over-The-Counter Payment Facilities

 Ventaja International Corporation collecting agents

- UAE Exchange Centre - Bahrain Exchange Company - Lulu Exchange - National Money Exchange

 Asia United Bank (AUB)

- Al Mulla Intl Exchange - Wallstreet Exchange - Havana Exchange - Al Ansari Exchange - Money Basket Exchange - Joy Alukkas Exchange - Metro Manila Exchange - Amman Exchange - Western Gulf General Trading Est.

Online Payment Facility (click: https://www.pagibigfundservices.com/ccpayment/ )

 Credit Cards powered by Visa or MasterCard

9. Pag-IBIG Overseas Members Services Desk in Kuwait.

Presently, Pag-IBIG Fund has overseas operations in Philippine Embassy Kuwait to extend frontline coordination services on membership registration, facilitate remittance of membership savings and loan amortizations, and assist in the availment of provident claims and loan benefits.

MAHMOUD B. KHALIL Members Services Officer c/o Philippine Embassy Block 6, Villa 153 Nouman Bin Basher St, cor Damascus St., Faiha, State of Kuwait Mob No: + 965 – 96693777 Fb Page: Pag-IBIG in Kuwait Email Addresses: [email protected] [email protected]