Starting July: Pag-IBIG to stop accepting over-the-counter payments

Kristine B. Quintas/LPM (The Freeman) - December 9, 2015 - 9:00am

CEBU, Philippines - Pag-IBIG Fund will no longer be accepting over-the-counter payments starting July 1 next year.

 Payments for Pag-IBIG contributions, multi-purpose loans and short-term loans must be paid electronically. But, for housing loans, employees and members can still transact directly at any Pag-IBIG Fund Office.

 Pag-IBIG Fund has adopted and implemented an electronic collection platform in partnership with its various accredited banks in compliance with Republic Act no. 8792 (E-Commerce Act of 2000) and Pag-IBIG Fund Circular 355.

 The circular mandates all government and private employers with at least ten employees to remit membership savings (MS) and loan amortizations through Electronic Payment and collection Facilities (EPCF) accredited by Pag-IBIG Fund to assist employers in the preparation of the monthly collection and remittance list.

 Rio Reves, Department Manager III for Business Development Department for Visayas, said members in far-flung areas may not worry if they cannot pay online since there is already an array of payment gateways, through over-the-counter or online transactions.

 He said they have partnered with several establishments and bayad centers to make the payment process easier and more convenient for individual members in remitting their payments of Housing Loan (HL) amortizations and individual membership savings (MS), as well as for employers to remit their payment obligations to Pag-IBIG.

 “Remotely-located members can avail and transact in our remittance and bayad center and other accredited collection agents. Answer sa mga members who are far away located sa among mga branches,” he said.

 He added that they are still eyeing to tap other small remittance centers in different municipalities to provide convenience to the members.

 “They can regularly and conveniently remit their monthly savings and even those with housing loans,” he said.   Pag-IBIG Fund has 15.76 million members and has over 3,200 accredited bayad centers nationwide.

 Salve Ceniza, Mandaue Member Services Branch Head, said Pag-IBIG has P379.25 billion total asset while its net income is P16.23 billion. She added that P11.35 billion of the P16.23 billion is being distributed as dividend.

 In line with its 35th anniversary celebration, Pag-IBIG Fund is set to hold a public auction of several acquired asset properties on December 16 and December 21 at Conference room 2 Pag-IBIG Fund tower, Cebu Business Park.

 These properties are located in Mandaue City, one; Lapu-Lapu City, 16; Consolacion, five; Compostela, 15; Danao, 14; Bogo City, two; Cebu, seven; Talisay City, 10; Minglanilla, 17; Toledo City, four; Naga, 11; and Liloan, 15.

 Angelo Hermosisima, Pag-IBIG senior financial specialist, said some of the properties are lot only and others have house components.   He said this year they were able to dispose of 214 acquired assets amounting P88 million.

 Apart from the auction, there would also be free civil wedding for all Pag-IBIG members or non-members on February 12. Deadline of the requirements will be on January 25.  — (FREEMAN)

  • Latest
Are you sure you want to log out?
Login is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

or sign in with