Bigger, Better, Faster Pag-IBIG Fund Atty. Darlene Marie B. Berberabe President, Pag-IBIG Fund 11th ECOP MGM |13 August 2015 Henry Sy Sr. Auditorium , St. Luke’s Global City, Taguig City th
This document is circulated for the participants of the 11 ECOP MGM and should NOT be used for commercial presentation purposes partially or in its entirety without EXPRESSED permission from the Author Atty. Darlene Berberabe or HRManagement and Business Solutions Inc.
Twin Mandates of Pag-IBIG Fund as provided in Section 2 of RA 9679 Pag-IBIG Fund
Pag-tutulungan sa kinabukasan: Ikaw, Bangko, Industriya, at Gobyerno.
PROVIDENT SAVINGS To establish, develop, promote, and integrate a nationwide sound and viable tax-exempt mutual provident savings system suitable to the needs of the employed and other earning groups; and
SHELTER FINANCING
To motivate them to better plan and provide for their housing needs, by membership in the HDMF, with mandatory contributory support of the employers in the spirit of social justice and the pursuit of national development
Mandatory membership for Filipino workers earning at least PHP 1,000 a month
Your Pag-IBIG today Dividends
₱11.34
15.5 Million Members
Billion
2014
2014
₱376.09 B ₱28.07 B Total Assets
Membership Savings
77
Branches Nationwide
Target by 2015:
117 Branches
22
Posts Worldwide
Nationwide
Highest in the Fund’s 34-year History
2014 Net Income
₱ 16.22 Billion
Housing Loan Programs
Housing Loan Programs End-User Home Financing Program Loan amount up to P6 Million Interest rate as low as 6.5%* Multiple housing loan allowed
Monthly Amortization Loan Term
Interest Rate
1M
3M
6M
3 Years
6.500%
6,320.68
18,962.04
37,924.08
5 Years
7.270%
6,835.33
20,506.00
41,012.00
10 Years
8.035%
7,362.06
22,086.18
44,172.36
15 Years
8.585%
7,749.46
23,248.37
46,496.73
20 Years
8.800%
7,902.74
23,708.23
47,416.45
25 Years
9.050%
8,082.23
24,246.69
48,493.37
30 Years
10.000%
8,775.72
26,327.15
52,654.29
*as of June 1, 2015
Housing Loan Programs End-User Home Financing Program End-User Home Financing Program
As High as 11.5% As High as 11.5%
6.5%* 6.5%* per annum per annum
*three-year re-pricing period
43% 43%
REDUCTION REDUCTION
*three-year re-pricing period
Housing Loan Programs Group Housing Loan Program (GHLP) Engage the participation and involvement of project proponents, through land development and house construction on the land owned and provided by the project proponent. Units from the project to be financed shall be offered for sale to the project beneficiaries.
Pag-IBIG Led Housing Projects
Pag-IBIG Led Housing Projects
Hanjin Employee Village (Castillejos, Zambales)
Project :
Hanjin Village Total Housing Units:
2,775 Price Range:
Php 399,000 to Php 599,000
Hanjin Employee Village (Castillejos, Zambales)
House Model
Land Area (sqm)
Floor Area (sqm)
Package Price & Loan Value
Appraised Value
Loan to Value Ratio
No. of Units
1-BR Duplex A
55.0
20.0
P399,000.00
P601,050.00
66.40%
1,693
2-BR Duplex B
55.0
28.0
P499,000.00
P773,950.00
64.50%
575
3-BR Single Attached
65.0
34.6
P599,000.00
P961,450.00
62.30%
507
Total
2,775
Housing Loan Programs End-User Home Financing Program Group Housing Loan Program (GHLP) Pag-IBIG-Led Projects
Provident Programs
Provident Programs Pag-IBIG Savings Government guaranteed
Tax-exempt Free from 20% withholding tax
still only
₱100
per month
unchanged since 1980s
Higher yield Average dividend rate of 4% per annum (Dividend Rate for 2014: 4.18%)
Provident Programs People’s AirCargo Co. Employer Share
Total Monthly Savings
As high as
P 7,770
P 3,885
Safety Utilities For Maritime & Computer System, Inc. Employer Share
Total Monthly Savings
As high as
P 4,000
P 2,000
Employers matched the Upgraded Savings of Employees as Reward for Hard Work
Provident Programs Modified Pag-IBIG 2 (MP2) Savings Program
Enjoy higher dividend earnings, tax free 5-Year maturity period Save & deposit anytime Minimum of PHP 500 only
2014 Dividend Rate
4.68% per annum
5-year average dividend rate: 4.14% per annum Sample Computation
Bank Savings Comparison
Provident Programs Short-Term Loan Programs Multi-Purpose Loan Program Provides financial assistance to Pag-IBIG members Loan amount up to 80% of Total Accumulated Value (TAV)
Calamity Loan Program Provides immediate financial assistance to Pag-IBIG members in calamity-stricken areas Loan amount up to 80% of Total Accumulated Value (TAV)
Provident Programs Regular Pag-IBIG Savings Modified Pag-IBIG 2 Savings Program Short-Term Loan Programs
Key Reforms
Key Reforms Doubled Loanable Amount
End User Home Financing Program from
₱3M to
₱6 M
Loan Take-out (July 2010 – June 2015) No. of Units
Loan Value
260,349
P 187 B
Features
Circular 247
Circular 310
Effectivity
Apr. 5, 2009
July 2, 2012
Loanable Amount
P3 Million
P6 Million
Sample Amortization Table
Key Reforms Affordable Housing Loan Program (AHP)
Designed for minimum wage earners, the AHP caters to the actual need of the borrower based on his capacity to pay. Loan amount up to P750K Interest rate as low as 4.5%* Multiple housing loan allowed
Loan Take-out (2012 – May 2015) No. of Units
Loan Value
16,315
Amounts
P 6B
Outside NCR
NCR & OFWs
GROSS MONTHLY INCOME (Maximum)
P 15,000
P 17,500
P 12,000
P 14,000
LOAN AMOUNT (Maximum)
P 450,000
P 750,000
P 450,000
P 750,000
INTEREST RATE*
4.5%
6.5%
4.5%
6.5%
Sample Amortization Table
Key Reforms Loan Value
Affordable Housing Loan Program (AHP)
1600
P1.577 B
1400
Jan-May 2015
1200 1000
INCREASE
800 600 400
1313%
P111.583 M
July – Dec. 2012
200 0
July - Dec. 2012
Jan. - May 2015
No. of Units 4500
4,285
4000
Jan-May 2015
3500 3000 2500
INCREASE
2000 1500
287
1000
July – Dec. 2012
500 0
July - Dec. 2012
1393%
Jan. - May 2015
Key Reforms Calamity Loan Program Interest rate reduced by HALF
from
10.75%
now at
5.95%
Key Reforms Improved Insurance for Housing Loan Borrowers
Insurance Premium Cut by Almost 50% Before
Now
(YRT Insurance Pool)
(Lockton Philippines and Reinsurance Brokers, Inc.)
41¢ per P1,000
23¢ per P1,000
Burial Benefit
None
Up to P20,000
Effect of Total Permanent Disability
None
Full payment of loan
Effect of terminal illness
None
Amortization support up to P500,000
Experience Refund
None
20% of the insurer’s profit to be refunded to the insured
OFW Premium
Additional P2 per P1,000
None
Medically Sub-standard Premium
With additional premium
None
Within 30 days
Within 24 hours
Features Premium Rates
Claims Processing
Key Reforms Pag-IBIG Branches’ New Look Previous Look
Initial Branches With “New Look”
Taguig (SM Aura) Binondo (Lucky Chinatown Mall) Guadalupe Palawan
Key Reforms
Enjoy Discounts & Rewards from our partner establishments
61 and counting
PARTNERS
Key Reforms Pag-IBIG Website E-Services: Pag-IBIG On-line Payment Channels:
Key Reforms
Key Reforms 360%
Unique Visits 7
7.27M
6 5 4 3 2
430,611
INCREASE
8
Likes
as of Aug. 12, 2015
1.58M
facebook.com/PagIBIGFundHDMF
1 0
2010
2014
pagibigfund.gov.ph
Number of Inquiries 500000
24/7 Hotline
P a g -
I B I G
724-4244
457 K
400000
300000
200000
100000
40,117
Jan-July 2015
0
2010
2015
1040% INCREASE
Key Reforms
Pag-IBIG maintains ISO 9001 certification
All NCR branches now ISO-certified
Key Reforms 2014 ANTI-RED TAPE SURVEY 100% PASSING RATE Pag-IBIG is the only government agency with back-to-back 100% passing rate in 2013 and 2014 surveys
Key Reforms
COA’S UNQUALIFIED OPINION
2012 2013
Key Reforms RE-AFFIRMATION OF COMMITMENT TO UPHOLD INTEGRITY Corporate-Wide Recitation and Signing of the Integrity Pledge
THANK YOU! Bigger, Better, Faster Pag-IBIG Fund Atty. Darlene Marie B. Berberabe President, Pag-IBIG Fund 11th ECOP MGM 13 August 2015 Henry Sy Sr. Auditorium , St. Luke’s Global City, Taguig City
