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The Home Development Mutual Fund (HDMF), commonly known as the Pag-IBIG Fund (acronym of its Filipino name: Pagtutulungan sa Kinabukasan: Ikaw, Bangko, Industriya at Gobyerno [a]), is a government-owned and controlled corporation under the Department of Human Settlements and Urban Development of the Philippines responsible for the administration of the national savings program and affordable ...
The following government agencies and corporations are attached to the department for policy and program coordination: [6] Home Development Mutual Fund (HDMF, but popularly known as Pag-IBIG Fund) Human Settlement Adjudication Commission (HSAC) National Housing Authority (Philippines) (NHA) National Home Mortgage Finance Corporation (NHMFC)
The agency responsible for implementation is the Social Security System (SSS), and also the Government Service Insurance System (GSIS), the Philippine Health Insurance Corporation (PhilHealth), and the Pag-IBIG Fund (Home Development Mutual Fund) use the card. [3] The card was also suggested to be used as a voter ID. [4]
Government Service Insurance System PhilHealth Pag-IBIG Fund: Social Security System or Government Service Insurance System members; and Pag-IBIG Fund member: Voter's identification card: Commission on Elections: Registered voters for elections: PRC License ID: Professional Regulation Commission: Professional License
The government announced that it will provide a 5% annual interest to the beneficiaries of the low-cost housing program for 10 years. [5] In December 2023, Pag-IBIG approved ₱ 12 billion credit line for the National Housing Authority, which will finance the development of 9,110 housing units nationwide (4,111 units in Quezon City , 1,377 in ...
Starting with a fund of ₱500,000 from the government, SSS' total assets grew to ₱474.7 billion and served 34.2 million members in 2016. [5] In 2018, the Republic Act No. 11199 or the Social Security Act of 2018 was passed, providing mandatory inclusion of Filipinos working domestically and internationally. [16]
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Voluntary membership is also open to all Filipino immigrants, Filipinos naturalized in other countries, and permanent Filipino residents abroad. As a result, Pag-Ibig Fund provides representatives to accept membership applications and offer other Pag-IBIG Fund services to OFWs in the Kingdom. [28]