Membership in Pag-IBIG Fund is mandatory upon all employees covered by the SSS or GSIS programs, provided that coverage of employees whose monthly compensation is less than P4,000.00 shall be voluntary. In case of the latter, the employee must signify in writing his intention to join the fund.
The school (as an employer) contributes an amount equivalent to two percent of the month pay of the member, provided that the maximum monthly compensation to be used in computing employee and employer contributions shall not be more than P5,000.00.
The Pag-IBIG fund which is a Provident Savings Fund offers diversified loan packages such as:
· Housing Loan Program
· Home Improvement Program
· Multi-Purpose Loan Program
· Assumption of Mortgages/Loan Restructuring
· Retirement – the employers’ contribution becomes part of the retirement benefits
Details on PAG-IBIG membership and forms are available at the Human Resource Administration and Development Office.