The dividends of Home Development Mutual Fund, popularly known as Pag-IBIG Fund, post a slight uptick last year compared to the year 2022.

During the Pag-IBIG Fund Chairman’s Report at the Philippine International Convention Center on Tuesday, President Ferdinand Marcos Jr. personally unveiled the 2023 dividends—6.55 percent for Pag-IBIG Regular Savings and 7.04 percent for its MP2 Program.

In 2022, the Pag-IBIG Regular Savings earned an annual dividend rate of 6.53 percent, while the MP2 Savings posted an annual return rate of 7.03 percent.

In her speech, Pag-IBIG chief executive officer Marlene Acosta said Pag-IBIG Fund recorded its highest-ever net income of P49.79 billion, 97.86 percent of which will go to members' dividends.

“We have remained productive and faithful to the vision which your parents had, four decades ago—that of improving the lives of Filipino workers by providing the opportunity to save from their earnings and secure a home they can call their own with the establishment of Pag-IBIG Fund. You have our assurance and unwavering commitment that we shall ensure the sustainability of the worker’s fund, remain true to the role of public service by embracing excellence and integrity in our duties, and continue to heed your call to ensure that Pag-IBIG Fund remains a reliable arm of the government to help our fellow Filipinos improve their lives,” Acosta told President Marcos Jr. who served as the guest of honor during the event.

Also, Acosta said two new programs will be launched this April: the quick loan facility of P5,000 and P10,000 for members, and the health and education loan program, which the latter can aid members to cover the costs of their hospitalization or educational needs.

Meanwhile, Secretary Jose Rizalino L. Acuzar, who heads the Department of Human Settlements and Urban Development and chairs the 11-member Pag-IBIG Fund Board of Trustees, said Pag-IBIG Fund released a record-high P126.04 billion in home loans to finance the housing units of 96,848 members in 2023.

On the other hand, housing loans released in 2023 grew by P8.19 billion or 7 percent compared to the P117.85 billion released last year, which was able to finance 96,848 housing units and now stands as the highest amount of home loans released by the agency in a single year.

Acuzar further stated that out of the total housing units financed by the agency last year, 11,257 or 12 percent were socialized housing units which are now owned by members from the minimum-wage and low-income sectors.

More accessible

For his part, President Marcos Jr. challenged the Pag-IBIG Fund to further make its home mortgage financing "even more accessible" to Filipinos while balancing sustainability.

"This is to inspire Filipinos today, and the generations to come, to work hard to reach their goal of a house that they can call their own," the President said.

Highlighting the housing needs of millions of Filipinos, Marcos emphasized the urgency of addressing the issue.

"With millions of our countrymen denied the right to decent shelter, the stakes could not be higher," he said.

The President declared his administration's ambitious goal of "To build the greatest number of housing units by any administration."

Acknowledging the agency's strong foundation, Marcos praised Pag-IBIG's "proud DNA" built on the collaborative approach of "ikaw, bangko, industriya, gobyerno" (you, bank, industry, government), comparing it to the four sturdy posts of a house.

He further emphasized the importance of these four pillars, saying: "These are your funds' greatest and strongest building materials."

Drawing a parallel between building a nation and building a home, Marcos Jr emphasized unity and faith as key drivers of success.

"I have always believed that when we are united behind one great purpose, there is nothing that can stop the Filipinos from realizing it. Whether building a nation or a home, this belief in ourselves is our fighting faith," Marcos Jr. said.

“With millions of our countrymen denied the right to decent shelter, the stakes could not be higher. So, our task is clear: To build the most number of housing units by any administration,” Marcos Jr. added.