BAGUIO CITY- – Are you an overseas worker and looking for some effective saving schemes?
Pag – IBIG Fund Senior Vice President Amado Isabelo Dizon enjoined Overseas Filipino Workers to invest in Pag – IBIG as he affirmed the strong financial viability of the corporation during the OFW Global Leaders Convention here on December 13.
Dizon disclosed that as of October 2018, Pag – IBIG Fund has a total assets of P515.24 billion with P33.26 billion in accumulated savings.
He reported that the corporation, with 13.63 million active members, had a robust year in 2017 with a total net income of P30.27 billion that resulted in P27.29 billion worth of dividends for members with a high dividend rate of 7.61 percent.
Aside from the regular savings, Dizon also encouraged OFWs to invest in the Modified Pag – IBIG Program or MP2 , which as of November 2018, has P3.996 billion in savings, 15 percent of which were from OFWs.
Pag–IBIG Fund savings are high yield with tax–free dividends and are government guaranteed, he added.
The Pag – IBIG Fund’s housing loan program offers affordable interest rates and better affordability ratio, according to Dizon. He also disclosed that one of every four individuals that availed of the housing loan is an OFW. There are 146,443 OFWs in their record having an average loan of P1.072 million for a total of P131.8 billion.
Other programs and services that Pag – IBIG offers to members are the multi–purpose and calamity loans as well as improved insurance and convenience with electronic payment and a growing number of collection facilities.
Pag-IBIG stands for Pagtutulungan sa Kinabukasan: Ikaw, Bangko, Industria at Gobyerno. **JDP/CCD-PIA CAR
