The Manila Times
THE Home Development Mutual Fund (HDMF), more commonly known as the Pag-IBIG Fund, has approved a special benefits package for repatriated overseas Filipino workers (OFWs), allowing them to access their savings and receive temporary relief on housing loan payments. Pag-IBIG Fund CEO Marilene Acosta said the agency would deliver the assistance package “in a manner that is prompt, accessible, and responsive to the needs of affected OFW members.” The assistance must be made available in a fast, clear, and accessible manner, Acosta said. “That is why we will make applications for these benefits available online through Virtual Pag-IBIG, while also ensuring that our more than 200 branches, OFW Centers, and service offices are ready to assist members and their families,” she said. Pag-IBIG also supports the assistance and reintegration efforts of the Department of Migrant Workers (DMW) and the Overseas Workers Welfare Administration (OWWA) for affected OFWs. Department of Human Settlements and Urban Development (DHSUD) Secretary Jose Ramon Aliling, who also chairs the 11-member Pag-IBIG Fund’s board of trustees, said the financial aid package was very timely as the repatriation of war-affected OFWs continues. “This is in compliance with the directive of President Ferdinand Marcos Jr. to provide necessary assistance to OFWs affected by the Middle East crisis,” Aliling said. Qualified OFW members may apply to withdraw up to 100 percent of their Pag-IBIG Regular Savings, including their employee share, employer share, and dividends earned, even before its 20-year maturity. Pag-IBIG said the OFWs can also withdraw up to 100 percent of their Modified Pag-IBIG II or MP2 Savings, inclusive of returns earned, even before its five-year maturity; or avail of a three-month moratorium on Pag-IBIG Housing Loan payments, free from interest and penalties, with the loan term extended by three months. As of last February, Pag-IBIG has 891,427 registered OFW members in the Middle East, including 86,234 MP2 savers and 40,024 housing loan borrowers, with the largest numbers in Saudi Arabia, Qatar, the United Arab Emirates, and Kuwait. Members may access Pag-IBIG services from Monday to Friday in office-based branches and from Tuesday to Saturday in mall-based branches. There is also its digital service channel, Virtual Pag-IBIG.
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