Pag-IBIG Fund implements RA 9679
by Marion Saligay
Lucena City (3 February) -- Pag-IBIG implemented the Repulic Act No. 9679 or the "Home Development Mutual Fund Law of 2009" otherwise known as Pag-IBIG (Pagtutulungan sa kinabukasan: Ikaw, Bangko, Industriya at Gobyerno) Fund" on the first day of January this year.
The said law which was approved by President Gloria Macapagal Arroyo last July 21, 2009 and effective last August 27, 2009, was implemented last January 1, 2010. After having approved and published, within 90 days the Implementing Rules and Regulations of RA 9679 were released.
According to this IRR, Rule V, Fund Coverage and Membership, Section 1 which is the Mandatory Coverage and Membership of Employees shall be mandatory for the following: a. All employees who are compulsorily covered by the SSS; 1. private employee, permanent or temporary, who is not over 60 years old. 2. household-helper earning at least P1, 000.00 a month. 3. Filipino seafarer upon signing the contract of employment. 4. Self-employed person with an income of at least P1, 000.00 a month and not over 60 years old; b. All employees who are subject to mandatory coverage by the GSIS; c. Armed Forces of the Philippines, Bureau of Fire Protection, Bureau of Jail Management and Penology, and Philippine National Police. d. Filipino employed by foreign-based employers.
With regards to voluntary contribution, Section 3 of Rule V states that persons who are at least 18 years old but not more than 65 years old and are not subject to mandatory coverage maybe covered on a voluntary basis such as the following: a. spouses who devote full time to managing the household and family affairs; b. Filipino employees of foreign government or international organization; c. employees of an employer who is granted a waiver or suspension of coverage by RA 9679; d. leaders and members of religious groups; e. member separated from employment, local or abroad, or ceased to be self-emloyed; f. public officials or employees who are not covered by the GSIS; g. such other earning groups as may be determined by the Board by rules and regulations.
Mrs. Maria Raidis Reyes, Division Chief of Marketing and Enforcement and Loans Contribution Management and Recovery Division said that they have on-going briefings with the employers with regards to RA 9679. It is much recommended to visit Pag-IBIG office nearest to the contributors for them to know whole details about RA 9679.
Meanwhile, Mr. Arnel Sevilla, Division Chief of Housing Loans Processing said that they have released 922 units of house and lot and lot only. He added that they have ongoing programs which are the multipurpose loans/salary loans and calamity loans. According to him, there are 9,285 who filed their calamity loans after the typhoon Ondoy from Lucena and 19,189 who filed their multipurpose loans for other purposes like hospitalization, etc. He emphasized that these programs that they conduct are based on the programs of President Arroyo. (RMO PIA-Quezon) [top]