Bigger, Better, Faster Pag-IBIG Fund

Bigger, Better, Faster
Pag-IBIG Fund
Atty. Darlene Marie B. Berberabe
President, Pag-IBIG Fund
11th ECOP MGM |13 August 2015
Henry Sy Sr. Auditorium , St. Luke’s Global City, Taguig City
th
This document is circulated for the participants of the 11 ECOP MGM and should NOT be used for
commercial presentation purposes partially or in its entirety without EXPRESSED permission from the Author
Atty. Darlene Berberabe or HRManagement and Business Solutions Inc.
Twin Mandates of Pag-IBIG Fund
as provided in Section 2 of RA 9679
Pag-IBIG Fund
Pag-tutulungan sa kinabukasan: Ikaw, Bangko,
Industriya, at Gobyerno.
PROVIDENT
SAVINGS
To establish, develop, promote,
and integrate a nationwide sound
and viable tax-exempt mutual
provident savings system suitable
to the needs of the employed and
other earning groups; and
SHELTER
FINANCING
To motivate them to better plan and
provide for their housing needs, by
membership in the HDMF, with
mandatory contributory support of the
employers in the spirit of social justice
and the pursuit of national
development
Mandatory membership for Filipino workers
earning at least PHP 1,000 a month
Your Pag-IBIG today
Dividends
₱11.34
15.5 Million
Members
Billion
2014
2014
₱376.09 B ₱28.07 B
Total Assets
Membership Savings
77
Branches
Nationwide
Target by 2015:
117 Branches
22
Posts
Worldwide
Nationwide
Highest in the Fund’s
34-year History
2014
Net Income
₱ 16.22
Billion
Housing Loan
Programs
Housing Loan Programs
End-User Home Financing
Program
Loan amount up to P6 Million
Interest rate as low as 6.5%*
Multiple housing loan allowed
Monthly Amortization
Loan Term
Interest Rate
1M
3M
6M
3 Years
6.500%
6,320.68
18,962.04
37,924.08
5 Years
7.270%
6,835.33
20,506.00
41,012.00
10 Years
8.035%
7,362.06
22,086.18
44,172.36
15 Years
8.585%
7,749.46
23,248.37
46,496.73
20 Years
8.800%
7,902.74
23,708.23
47,416.45
25 Years
9.050%
8,082.23
24,246.69
48,493.37
30 Years
10.000%
8,775.72
26,327.15
52,654.29
*as of June 1, 2015
Housing Loan Programs
End-User Home Financing Program
End-User
Home Financing
Program
As High as 11.5%
As High as 11.5%
6.5%*
6.5%*
per annum
per annum
*three-year re-pricing period
43%
43%
REDUCTION
REDUCTION
*three-year re-pricing period
Housing Loan Programs
Group Housing Loan
Program (GHLP)
Engage the participation and involvement
of project proponents, through land
development and house construction on
the land owned and provided by the
project proponent.
Units from the project to be financed shall
be offered for sale to the project
beneficiaries.
Pag-IBIG Led
Housing Projects
Pag-IBIG Led Housing Projects
Hanjin Employee Village
(Castillejos, Zambales)
Project :
Hanjin Village
Total Housing Units:
2,775
Price Range:
Php 399,000 to
Php 599,000
Hanjin Employee Village
(Castillejos, Zambales)
House Model
Land Area
(sqm)
Floor Area (sqm)
Package Price &
Loan Value
Appraised
Value
Loan to Value
Ratio
No. of
Units
1-BR Duplex A
55.0
20.0
P399,000.00
P601,050.00
66.40%
1,693
2-BR Duplex B
55.0
28.0
P499,000.00
P773,950.00
64.50%
575
3-BR Single
Attached
65.0
34.6
P599,000.00
P961,450.00
62.30%
507
Total
2,775
Housing Loan
Programs
End-User Home Financing Program
Group Housing Loan Program (GHLP)
Pag-IBIG-Led Projects
Provident
Programs
Provident Programs
Pag-IBIG Savings
Government
guaranteed
Tax-exempt
Free from 20% withholding tax
still only
₱100
per month
unchanged since 1980s
Higher yield
Average dividend rate of 4% per
annum
(Dividend Rate for 2014: 4.18%)
Provident Programs
People’s AirCargo Co.
Employer Share
Total Monthly Savings
As high as
P 7,770
P 3,885
Safety Utilities For Maritime
& Computer System, Inc.
Employer Share
Total Monthly Savings
As high as
P 4,000
P 2,000
Employers matched the Upgraded Savings
of Employees as Reward for Hard Work
Provident Programs
Modified
Pag-IBIG 2 (MP2)
Savings
Program
Enjoy higher dividend earnings,
tax free
5-Year maturity period
Save & deposit anytime
Minimum of PHP 500 only
2014 Dividend Rate
4.68%
per annum
5-year average dividend
rate: 4.14% per annum
Sample Computation
Bank Savings Comparison
Provident Programs
Short-Term Loan Programs
Multi-Purpose Loan Program
Provides financial assistance to
Pag-IBIG members
Loan amount up to 80% of Total
Accumulated Value (TAV)
Calamity Loan Program
Provides immediate financial
assistance to Pag-IBIG members
in calamity-stricken areas
Loan amount up to 80% of Total
Accumulated Value (TAV)
Provident Programs
Regular Pag-IBIG Savings
Modified Pag-IBIG 2 Savings Program
Short-Term Loan Programs
Key Reforms
Key Reforms
Doubled
Loanable
Amount
End User Home Financing
Program
from
₱3M to
₱6 M
Loan Take-out (July 2010 – June 2015)
No. of Units
Loan Value
260,349
P 187 B
Features
Circular 247
Circular 310
Effectivity
Apr. 5, 2009
July 2, 2012
Loanable
Amount
P3 Million
P6 Million
Sample Amortization Table
Key Reforms
Affordable Housing
Loan Program
(AHP)
Designed for minimum wage earners,
the AHP caters to the actual need of the
borrower based on his capacity to pay.
Loan amount up to P750K
Interest rate as low as 4.5%*
Multiple housing loan allowed
Loan Take-out (2012 – May 2015)
No. of Units
Loan Value
16,315
Amounts
P 6B
Outside NCR
NCR & OFWs
GROSS MONTHLY
INCOME
(Maximum)
P 15,000
P 17,500
P 12,000
P 14,000
LOAN AMOUNT
(Maximum)
P 450,000
P 750,000
P 450,000
P 750,000
INTEREST RATE*
4.5%
6.5%
4.5%
6.5%
Sample Amortization Table
Key Reforms
Loan Value
Affordable Housing
Loan Program
(AHP)
1600
P1.577 B
1400
Jan-May
2015
1200
1000
INCREASE
800
600
400
1313%
P111.583 M
July – Dec. 2012
200
0
July - Dec. 2012
Jan. - May 2015
No. of Units
4500
4,285
4000
Jan-May
2015
3500
3000
2500
INCREASE
2000
1500
287
1000
July – Dec. 2012
500
0
July - Dec. 2012
1393%
Jan. - May 2015
Key Reforms
Calamity Loan Program
Interest rate reduced
by HALF
from
10.75%
now at
5.95%
Key Reforms
Improved Insurance for Housing Loan Borrowers
Insurance Premium Cut by Almost 50%
Before
Now
(YRT Insurance Pool)
(Lockton Philippines and Reinsurance Brokers, Inc.)
41¢ per P1,000
23¢ per P1,000
Burial Benefit
None
Up to P20,000
Effect of Total Permanent
Disability
None
Full payment of loan
Effect of terminal illness
None
Amortization support up to P500,000
Experience Refund
None
20% of the insurer’s profit to be refunded
to the insured
OFW Premium
Additional P2 per P1,000
None
Medically Sub-standard Premium
With additional premium
None
Within 30 days
Within 24 hours
Features
Premium Rates
Claims Processing
Key Reforms
Pag-IBIG Branches’ New Look
Previous Look
Initial Branches
With
“New Look”
Taguig (SM Aura)
Binondo (Lucky Chinatown Mall)
Guadalupe
Palawan
Key Reforms
Enjoy Discounts & Rewards
from our partner establishments
61 and counting
PARTNERS
Key Reforms
Pag-IBIG Website E-Services:
Pag-IBIG
On-line
Payment
Channels:
Key Reforms
Key Reforms
360%
Unique Visits
7
7.27M
6
5
4
3
2
430,611
INCREASE
8
Likes
as of Aug. 12, 2015
1.58M
facebook.com/PagIBIGFundHDMF
1
0
2010
2014
pagibigfund.gov.ph
Number of Inquiries
500000
24/7
Hotline
P a g -
I B I G
724-4244
457 K
400000
300000
200000
100000
40,117
Jan-July
2015
0
2010
2015
1040%
INCREASE
Key Reforms
Pag-IBIG maintains
ISO 9001 certification
All NCR branches
now ISO-certified
Key Reforms
2014
ANTI-RED TAPE
SURVEY
100% PASSING RATE
Pag-IBIG is the only government agency
with back-to-back 100% passing rate
in 2013 and 2014 surveys
Key Reforms
COA’S
UNQUALIFIED
OPINION
2012 2013
Key Reforms
RE-AFFIRMATION
OF COMMITMENT
TO UPHOLD INTEGRITY
Corporate-Wide Recitation
and Signing of the Integrity Pledge
THANK YOU!
Bigger, Better, Faster Pag-IBIG Fund
Atty. Darlene Marie B. Berberabe
President, Pag-IBIG Fund
11th ECOP MGM
13 August 2015
Henry Sy Sr. Auditorium , St. Luke’s Global City, Taguig City