President Ferdinand R. Marcos Jr. has approved a special benefits package for overseas Filipino workers (OFWs) who have returned to the country amid ongoing tensions in the Middle East, Malacañang said Monday.
In a press briefing, Presidential Communications Office (PCO) Undersecretary and Palace Press Officer, Atty. Claire Castro said the initiative aims to recognize the sacrifices of OFWs and provide immediate assistance to those forced to come home due to the regional unrest.
“Bilang pagkilala sa ating sakripisyo, aprubado na ang special benefits package para sa ating mga bayaning OFW na nagbalik-bayan,” Castro said, noting that the program follows the President’s directive to bring government support closer to affected Filipinos.
Under the package, qualified OFWs may fully access their savings from Pag-IBIG Fund even before the usual maturity period. Beneficiaries can withdraw up to 100 percent of their regular savings, including employee and employer contributions, as well as dividends, without having to meet the standard 20-year requirement.
In addition, OFWs may also withdraw up to 100 percent of their Modified Pag-IBIG II (MP2) Savings, including earned interest, ahead of its five-year maturity period.
The package further provides a three-month moratorium on Pag-IBIG housing loan payments, allowing borrowers to temporarily suspend payments without incurring additional interest or penalties.
The loan term will simply be extended by three months.
Castro further stressed the measure is timely as many OFWs continue to grapple with the economic impact of the crisis in the Middle East.
“Napapanahon ang benefits package na ito upang makabangon ang ating mga bayaning OFW na lubos na naapektuhan ng tensyon sa Gitnang Silangan,” Aliling said.
She likewise emphasized that the program reflects a broader “bayanihan” effort to ensure that no Filipino is left behind despite global challenges.