AFFORDABLE HOUSE AND LOT CAVITE

GUIDELINES ON THE Pag-IBIG OVERSEAS PROGRAM

The Pag-IBIG Overseas Program (POP) is a voluntary savings program which aims to provide Filipino overseas contract workers ,immigrants and naturalized citizens the opportunity to save for their future and the chance to avail of a housing loan of as much as P 3,000,000.00

MEMBERSHIP

Coverage:

Membership under the Pag-IBIG Overseas Program (POP) shall be open to all Overseas Filipino Workers (OFWs) with valid visas or employment contracts. Likewise, it shall be open to Filipino immigrants and to Filipinos naturalized in other countries.

Contribution Rate:

The POP member shall contribute monthly an amount equivalent to US $5. Should a POP member decide to apply for a housing loan and which to avail of a higher loanable amount, he would be required to upgrade his membership contribution as follows:

The upgraded membership contribution shall be incorporated as part of the housing loan monthly amortization

Dividend Rate:

Variable dividends from surplus earnings of the Fund shall be distributed annually to all POP members, to be credited to their Total Accumulated Values (TAV).

Membership Term/Maturity:

The accumulated savings under the program may only be withdrawn at the end of five (5), ten (10), fifteen (15), or twenty (20) years at the option of the member upon membership registration. Withdrawal of contributions shall be in Philippine peso. Contributions in foreign denomination shall be converted to Philippine peso based on the prevailing US dollar exchange rate as of payment date.

LOAN AVAILMENT

POP members may avail themselves of the housing loan benefit, subject to the provisions of the existing Consolidated Guidelines of the Pag-IBIG Housing Loan Program, through their immediate family members with the execution of a Special Power of Attorney (SPA), duly certified by the Philippine embassy or consulate in the country of their workplace. They can also avail of the Multi-Purpose Loan (MPL), subject to the existing guidelines of the MPL Program

I. FOR WORKERS WITH REGULAR EMPLOYMENT

Persuant to Republic Act 7742 which was fully implemented on January 1, 1995, membership to the Pag-IBIG Fund shall be mandatory for all employees covered by the Social Security System (SSS) and/or the Government Service Insurance System (GSIS) and who are earning at least P4,000.00 a month. This mandatory coverage is also extended to expatriates whose age is up to 60 years old and who are compulsorily covered by the SSS. In the absence of an explicit exemption from SSS coverage the said expatriate, upon assumption of office, shall be compulsorily covered by the Fund.

Membership for employees who are earning less than P4,000 a month, including those who belong to other working groups shall be on a voluntary basis.

Procedures on the Registration of Employers and it’s employees

1. Proceed to the Marketing and Enforcement Division of the concerned branch and request for a copy of the Membership Registration/Remittance Form (MRRF) [FPF060].

1. Accomplish and submit two (2) copies of the MRRF together with the following supporting documents to the Marketing and Enforcement Division:

Members Data Form (MDF) of the employees Certificate of SSS Coverage and Compliance (for the current year), if private employer GSIS Certificate of Membership, if government employer

For Sole Proprietorship DTI Registration   Mayor’s Permit/ Business Permit For Partnership/Corporation SEC Registration Articles of Partnership/Incorporation and By-laws Notes: The original copy of the documents shall be presented for authentication. Upon submission of complete documents, the Marketing and Enforcement Division shall issue the Payment Order Form (POF).

1. Proceed to the Cash and Administrative Services Division and pay the 1st monthly membership contributions (MC).
2. Upon payment, present the Pag-IBIG Fund Receipt (PFR) to the Marketing and Enforcement Division.

Notes:

1. The succeeding remittances shall depend on the following schedule:

First Letter of Company Name	Remittance Schedule
A - D	10th to the 14th day of the month
E - L	15th to the 19th day of the month
M - Q	20th to the 24th day of the month
R - Z	25th to the end of the month

1. For the succeeding remittances, the MRRF may be submitted in diskette.

II. INDIVIDUAL-PAYORS/VOLUNTARY MEMBERS

Employees who are not regularly employed and who belong to other working groups can join the Pag-IBIG Fund on a voluntary basis.

How to join Pag-IBIG:

1. Accomplished and submit two (2) copies of the MDF and all required supporting documents to the Marketing and Enforcement Division of the concerned Pag-IBIG branch office (bring all originals for authentication)
2. Secure Payment Order Form (POF) from Marketing and Enforcement Division and proceed to the Cash Division for payment of initial membership contributions (MC)
3. Present all verified/stamped documents to the Marketing and Enforcement Division.
4. Secure Payment Order Form before proceeding to Cash Division for payment of contribution

REQUIREMENTS FOR INDIVIDUAL PAYORS (IP)

SELF-PAYING (WAIVED COMPANY)

• Certificate of Employment & Compensation
• Latest Payslip
• Company ID

SELF-EMPLOYED

• Latest ITR

OVERSEAS FILIPINO WORKER (OFW) (For Reactivating Members only)

• Latest Contract of Employment
• Passport or any valid ID

UNEMPLOYED SPOUSE (For Non-Working Spouse)

• Written consent from member-working spouse
• Certificate of Employment and Compensation of member-working spouse
• Affidavit of Unemployment

       For member-spouse with business:

• Latest ITR

UNEMPLOYED (For Reactivating Members only)

• Affidavit of Unemployment