Pag-IBIG Fund reported member contributions reached P80 billion in 2022, a record high, according to an official who added that slower external trade growth is expected in 2023 official said on Wednesday.
During the Laging Handa press briefing, Pag-IBIG Fund’s public affairs manager Jack Jacinto Jr., said the steady economic recovery and the growing number of members contributing to the Pag-IBIG Fund are among the significant factors that have helped the fund maintain its financial position.
“The recovery of the economy is a big thing. More and more members are contributing to the Pag-IBIG fund and many of our compatriots have returned to their jobs,” Jacinto said.
“It is also important that our members continue to trust the Pag-IBIG fund because they continue to increase and expand their savings and trust,” he said.
Beyond regular contributions
“(This is) in addition to our members continuing to make payments on their housing loans and cash loans,” Jacinto added.
In 2022, over 1.4 million new members joined, bringing the total number of active members to 15.12 million.
Jacinto also reported that the Pag-IBIG Fund’s housing loan program has recorded a turnout of P117.85 billion in 2020.
Their MP2 (Modified Pag-IBIG II) Savings program also hit P39.82 billion in 2022, a 54 percent increase from the previous record of P25.95 billion.
Jacinto also reported that the Pag-IBIG Fund’s housing loan program has recorded a turnout of P117.85 billion in 2020, the highest ever. This helped over 105,000 members to acquire their own homes. Additionally, the Pag-IBIG Fund has prepared short-term and long-term loan programs for its members this year.
“We are pleased to share these updates and continue to help our members fulfill their dreams of owning a home,” Jacinto said. “We remain steadfast in our commitment to providing financial assistance to our members.”
Jacinto added that they did not increase the contribution rate last year and will continue to remain unchanged in 2023.
He explained that this decision was made in response to requests from members and stakeholders still recovering from the pandemic.
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