OFWs asked to use HDMF number in paying monthly premiums 

Overseas Filipino workers (OFW) will now be required to provide their Home Development Mutual Fund (Pag-IBIG) membership ID number when using the online registration of the Philippine Overseas Employment Administration (POEA), according to a report by BusinessMirror.

The new requirement aims to make it more convenient for OFWs to pay their monthly Pag-IBIG premiums using the POEA’s Electronic Payment and Collection System (EPCS).

“The POEA shall now require all OFWs and aspiring OFWs to provide and encode their Pag-IBIG Member ID number [Pag-IBIG MID] in their e-Registration System account,” POEA and Pag-IBIG said in Joint Advisory 1 (series of 2022).

The Pag-IBIG contribution will now be done during processing of the overseas employment certificate (OEC).

Under the joint issuance, jobseekers must also include their Pag-IBIG MID when applying for overseas employment using the EPCS.

The same requirement will also be imposed for OFWs, who have already been deployed abroad, the next time they log-in to the EPCS.

OFWs could get their Pag-IBIG MID through the utilities of the POEA E-registration system and Pag-IBIG’s online service portal.

The POEA and Pag-IBIG completed their system integration for the new premium collection scheme last February.

“All licensed recruitment agencies, POEA frontline personnel and Philippine Overseas Labor Offices [POLOs] are requested to help disseminate, remind, and assist their OFW-clients regarding this joint advisory,” POEA and Pag-IBIG said.

Both agencies noted that ensuring OFWs are members of Pag-IBIG will be able to provide their clients with more savings and access to shelter.

Pag-IBIG Fund Board of Trustees Chairman and Housing Secretary Eduardo D. del Rosario reported last February that the agency achieved its highest-ever net income of P34.73 billion last year, marking the fifth consecutive year that the agency netted an income of over P30 billion.

Last year’s net income was higher by 9.5 percent than P31.71 billion in 2020 and also topped its previous record of P34.37 billion in 2019.

“Our members will directly benefit because we shall again go beyond what is required of us by declaring over 86 percent of our net income as dividends for their savings,” Del Rosario has said.

Under the Pag-IBIG Fund charter, the agency is required to declare at least 70 percent of its annual net income as dividends, which shall be credited proportionately to its members’ savings.

However, Del Rosario said the Pag-IBIG Fund management is recommending to set aside dividends worth P29.86 billion, equivalent to 86.56 percent of its net income as they wanted to give the utmost benefit to their members in the second year of the pandemic.

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