Distressed OFWs granted Pag-IBIG benefits access
The package also includes a three-month moratorium on Pag-IBIG housing loan payments.
The package also includes a three-month moratorium on Pag-IBIG housing loan payments.
President Ferdinand R. Marcos Jr. has approved a special benefits package for overseas Filipino workers (OFWs) returning to the country amid tensions in the Middle East, Malacañang said Monday.
In a press briefing, Presidential Communications Office Undersecretary and Palace Press Officer Claire Castro said the initiative aims to provide immediate assistance to affected OFWs.
“In recognition of your sacrifices, the special benefits package for our OFW heroes who have returned home has been approved,” Castro said.
Under the package, qualified OFWs may fully access their savings from the Pag-IBIG Fund before the usual maturity period, including employee and employer contributions and dividends, without meeting the 20-year requirement.
They may also withdraw up to 100 percent of their Modified Pag-IBIG II savings, including earned interest, ahead of its five-year maturity.
The package also includes a three-month moratorium on Pag-IBIG housing loan payments, allowing borrowers to temporarily suspend payments without additional interest or penalties. Loan terms will be extended accordingly.
“This benefits package is timely to help our OFW heroes recover from the impact of tensions in the Middle East,” Castro said.
She added that the program reflects a broader effort to ensure continued support for Filipinos affected by global challenges.
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