Pag-IBIG expects more members

CEBU, Philippines – The Home Development Mutual Fund (Pag-IBIG) is expecting to grow more in terms of membership with the full implementation of Republic Act 9679, which im-poses mandatory coverage.

Before the law's full implementation this year, several companies or employers did not have their workers covered by Pag-IBIG.

Rio Teves, Pag-IBIG Assistant Manager for Cebu, said that with the full implementation of HDMF law since last January, he is expecting employers to cooperate and register their coverable employees.

"Ang bottomline ani nga law kay maka-generate ta og more members nga maka-avail sa mga benefits," Teves said.

Teves added that RA 9679 is one way of having force savings for the employees through their monthly contributions which earn dividend by end of the year.

Under this law, compulsorily membership is for those covered by the Social Security System (SSS) not more than sixty-five (65) years old, all employees who are sub-jected to mandatory coverage by GSIS, Filipinos by foreign-based employers, household helpers earning at least P 1,000 a month and self-employed persons regardless of trade, business or occupation with an income of at least P 1,000 a month not more than 60 years.

Also covered by the mandatory membership are the members of the military, the Bureau of Fire Protection, the Bureau of Jail Management and Penology and the Phil-ippine National Police.

A private employee, whether permanent, temporary or provisional who is not over 60 years old, and Filipino seafarers are also included in the mandatory membership.

People between 18 to 65 years old who are unemployed can opt for voluntary coverage.

Earlier, a nongovernment group criticized Pag-IBIG's expansion of the voluntary coverage to include overseas Filipino workers, which was reportedly labeled as legal-ized extortion.

Members of Migrante International had condemned the newly imposed policy as unfair and unreasonable.

After what lobby groups considered as a success, the mandatory contribution for OFWs was already dropped and was changed into voluntary. (FREEMAN)