FAQs about your Pag-IBIG savings

It’s everyone’s dream to own a property and buy a house. And Pag-IBIG has been founded to answer Filipinos need for savings and affordable housing.

Are you still investing on your Pag-IBIG? If you aren’t, well, this might convince you to reactivate your membership again!

Ms. Elizabeth Borre is considered as one of the pioneers of Pag-IBIG. She’s been a member since 1981.

Ms. Borres is the head of Pag IBIG in Toronto and the only representative in Canada. She sat down with our TV Natin hosts to discuss all we needed to know about Pag-IBIG.

According to Ms. Borres, Pag-IBIG is a nationwide savings system in the Philippines.

If you’re an SSS member you’re most likely a Pag-IBIG member as well. Pag-IBIG is mandatory for Filipinos who have working permits and voluntary for permanent residents and Canadian citizens.

Ms. Borres says that there are two categories under Pag-IBIG savings system:

  • Pag-IBIG I is mandatory for Filipinos in the Philippines and voluntary for those abroad.
  • Pag-IBIG II is a 5-year term time deposit where you get the lump sum after 5 years tax-free. No limits on deposits.

Ms. Borres says that Canadian citizens can still invest in the Pag-IBIG fund and own a property. They can get a loan up to Php 6 Million. She notes that dual citizenship is not a requirement but owning a property has limitations.

Dual citizens are allowed to have unlimited property while those who aren’t, are only entitled for a maximum of 1000 square metre residential ownership. For married couple, since it is conjugal, it is 500 square metre each.

Ms. Borres suggests that if you are planning to buy a property and have cash on hand, you can loan instead on Pag-IBIG and keep the money to pay for the loan that way you can be sure that your money and payment goes through a legitimate process.

For those who were a previous member of Pag-IBIG and has now moved to Canada and has been wanting to activate their membership again, you don’t need to worry about penalty fees because there are none!

There’s no obligation in paying the gap as well. While you’re away, the investment you had with Pag-IBIG is still on going. All you need to do is to deposit your contribution again with your ID number. This can be found on the website. If not, Ms. Borres is happy to assist.

For those who wanted to become a member, you can go on the Pag-IBIG website and register. You can also remit online or through certain remittances app with partnered remittances in Canada.

Deposits can be made anytime, without limits, and on your own.

Catch Ms. Liz Borres on TV Natin to know more detailed information.

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