Pag-IBIG is an acronym for Pagtutulungan sa Kinabukasan: Ikaw, Bangko, Industriya, at Gobyerno. It was set up by the government to assist the working class in buying a home. The fund covers all working Filipinos both here and abroad. The required contribution is at least P100 per month. If you like, you can contribute a bigger amount. OFWs can choose to pay a yearly lump sum.
Aside from numerous Pag-IBIG branches nationwide, a contributor can pay through Bayad Centers or SM Business Centers. Another convenient way is through salary deduction.
What are the benefits for you as an employee? Registered members who have contributed regularly for at least 2 years are eligible for a home loan of up to P6,000,000.
In addition, your contribution to the fund also serves as an investment tool because it earns dividends. That means the bigger your contribution, the bigger the returns.
Interested parties may apply for membership at the Pag-IBIG Fund Official Website, [www.pagibigfund.gov.ph]
To summarize, watch this 90-second video about the fund: