My Pagibig Fund Contributions

I remember last year while I was inside the jeepney on my way to our office, as my mind was occupied with mutual funds (still thinking when & where I can open a mutual fund account that day), I saw a passenger seated beside me holding an envelope with a logo of Pagibig fund. What caught my attention was the text beside the logo " HOME DEVELOPMENT MUTUAL FUND ". Wooow, why didn't I think of that? Hey, I've been searching for a mutual fund company not knowing that I'm already a member of it.
Last week as I was arranging some of the important documents/papers, I found an interesting printouts in my cabinet - "the summary of Pagibig contributions". From what I remember it was last year when I requested my colleague to help me to get a printed summary of all my contributions in Pagibig. I was so happy when I found it because I thought I lost it already.
Summary of my contributions as of July 2014
Imagine, I've been a Pagibig fund member for 15years and I already have 180 monthly contributions.
As shown in the above photo, the employee & employer both have a contribution plus the total dividends added to it which brings me to a sum of P 50, 605.93 that I can already withdraw anytime since they now have an optional withdrawal @ 10 or 15 years of continuous membership. "Di ko pinapansin ang Pagibig fund dati kasi P 100.00 lang ang contributions ko per month dito ngayon ko lang napansin na malaki na rin pala ang dividend gains nito".

As a regular employee with a typical mindset before, my initial action would be to file a salary loan on Pagibig fund after completely paying it for two years. But with the Pagibig fund interest rate of 10.5% per annum on the Multi-Purpose Loan added every year on the 80% loanable amount of your TAV, I now value every peso that I will lose if I make that loan again. I made a rough computation today & the total interest for MPL (Multi-Purpose Loan) is approx. P 8,501.78 --- sayang di ba? And why would I file a loan - di ko pa naman kailangan di ba?" Ang sarap kayang tingnan ng payslip ng walang salary loan sa SSS & Pagibig fund. (Note: I finished paying my Pagibig loan last 2013 & my SSS loan last Nov 2014).

As for the optional withdrawal on my contribution, no plans of withdrawing it yet. I plan to continue my pagibig 1 savings/contributions until I retire. I added that TAV (total accumulated value) on my networth today.
My Total Savings & Investment / Total Networth / Target Goal for 2015
I made a 10k cash loan again last week that I will use on my lending raket here and I also made an additional 1k on my FAMI balanced fund.
So my new target total savings & investment this year will be P 61,028.78 or 168 sets on my 365 pesos savings starting today. Hmmm, visualizing these numbers again "200,000.00" :)

Though my plan to open a Pagibig 2 savings program didn't pursue last week because I was informed that our company is still trying to settle some of our unpaid contributions, I hope & pray that our company be able to rise up from the financial crisis that we are experiencing today.


Though my priority now is to study again, I still feel that I'll be able to reach my new target this year.

Go for the Goals again this 2015!

Happy Weekend :)

6 comments:

  1. I heard pag hindi mo daw niloan ang pera mo sa SSS/PagIbig, pwedeng makuha yan ng iba?... kaya halos lahat ng kilala ko nagloloan kapag pwede na.

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    1. oo ganyan din ang sabi sabi sa amin noon, pero hindi ko iniintindi yan basta ako nagloloan ako regularly kapag natapos kong bayaran ang loan ko, file agad ako.

      last year lang ako 2013 & 2014 lang ako hindi muna nagloan, kasi inaayos ko pa ang budgeting ko :)

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  2. Pag-IBIG 1's dividends is 10.5%? Really? Where did you read that?

    And please update us when you open a Pag-IBIG 2 account, I'm also looking into it.

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    1. mam jill, hindi po --- yun ang interest rate kapag nag-loan ka :),
      cge po mam, pag pumunta ako ulit sa pagibig office, inquire ko ang dividend rate nila.

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  3. Okay din pala ang PAG-IBIG, ha! At now ko lang nalaman yang optional withdrawal na yan. Medyo matagal na rin akong member, pero may housing loan kasi ako kaya saka ko na iisipin yan pag fully paid na ako sa loan ko. Kayang kaya mo yang 200k na yan, Grace, kaw pa! :)

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    1. oo puede mo nang kunin ang total contributions mo after 10 yrs then pede ka ulit mag-start, ganyan ginawa ng kasamahan ko e :)

      kaya naman 200k kaso baka matigil ako magtrabaho pag natuloy ako sa plano kong mag-aral kaya nagmamadali akong mag-ipon ngayon :)

      thanks, ms edel :)

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