Have you paid your Pag-IBIG Fund contributions yet? In a previous post, we talked about the benefits and programs of Pag-IBIG Fund members. Today, we will focus on how members can pay for their contributions, through over-the-counter or online methods.
In Dubai, OFWs can pay Pag-IBIG Fund contributions and access its services through the Migrant Workers Office (MWO). In addition, there are banks and remittance companies that provide offline and/or online payment options, depending on members’ preferences.
Contents
Dubai OFW’s Guide to Paying Pag-IBIG Contributions
Before anything else, let us have a quick look at what Pag-IBIG Fund is, its programs and benefits, and how OFWs in Dubai can pay their monthly contributions:
What is Pag-IBIG?
The Home Development Mutual Fund (HDMF), also known as Pag-IBIG Fund, is a state-run corporation under the Philippine Department of Human Settlements and Urban Development (DHSUD). It offers affordable housing loans and savings programs to members. The term “Pag-IBIG” stands for “Pagtutulungan sa kinabukasan: Ikaw, Bangko, Industriya, at Gobyerno.”
In January 2010, the implementation of Republic Act 9679 or the “Home Development Mutual Fund Law” began, thus expanding the compulsory coverage of Pag-IBIG Fund to all OFWs. Meanwhile, Pag-IBIG membership/coverage is voluntary for Filipino immigrants, permanent residents, and naturalized citizens abroad.
In Dubai, OFWs can access Pag-IBIG Fund services at the Migrant Workers Office (MWO). Notably, from time to time the office conducts “services missions” in the Northern Emirates, providing various services (e.g. contact verification, Pag-IBIG Fund membership activation, OWWA, SSS services) to Filipinos there.
Vision and Mission
What is the vision and mission of Pag-IBIG Fund? Its official website presents the following statements:
Vision. “For every Filipino worker to save with Pag-IBIG Fund, to achieve their dream of home ownership, and to improve their quality of life.”
Mission. “To generate more savings from more Filipino workers, to administer a sustainable Fund with integrity, sound financial principles, and with social responsibility, and to provide accessible funds for housing of every member.”
Programs and Benefits
As for the Pag-IBIG Fund programs and benefits, here is an overview of what members can apply for:
Pag-Ibig I Savings
This is the regular savings program of Pag-IBIG, involving the contribution (or saving) of PHP 200 per month. The great thing about the Pag-IBIG I Savings Program is that if offers higher annual dividend earnings than commercial banks. Upon retirement, members shall receive the Total Accummulated Value (TAV), which includes all monthly savings, employer counterpart (if applicable), and dividend earnings.
Modified Pag-IBIG 2 (MP2) Savings
If you’re already a Pag-IBIG Fund member and contributing regularly, you can opt for higher savings and dividends by joining the Modified Pag-IBIG 2 (MP2) Savings program. For a minimum contribution of PHP 500 a month over a five-year maturity period, members can look forward to gaining more dividends — at rates higher than those of Pag-IBIG I or regular savings.
Housing Loan
Whether you’re planning to buy a house and lot, build or improve your house, or refinance an existing housing loan — you can apply for the Pag-IBIG Fund Housing Loan. Members can borrow up to PHP 6 million, at interest rates that are much lower than those in regular or commercial banks.
Health and Education Loan Programs (HELPs)
This program is extended to members who need financial assistance for health- and education-related expenses. Members can borrow up to 80 percent of their Regular Savings. Meanwhile, to make the process easier, funds are credited directly to hospitals and schools that are accredited by Pag-IBIG.
Multi-Purpose Loan
Similar to HELPs, the Multi-Purpose Loan (MPL) also offers loan amounts up to 80 percent of a member’s regular savings. Payable over a maximm period of two years (24 months), the MPL may be used for minor house improvements, children’s tuition, additional capital for small businesses, and other purposes.
Calamity Loan
Calamities such as typhoons, floods, and earthquakes usually come without warning, affecting the household and livelihood of many Filipinos. Fortunately, Pag-IBIG Fund members can apply for the Calamity Loan, which provides immediate financial assistance. Just like the other loans, it involves amounts up to 80 percent of members’ regular savings, payable over a period of two years (24 months) or three years (36 months).
Video: Pag-IBIG Programs
To learn more what the Pag-IBIG Fund has to offer, here’s a video posted by POLO Abu Dhabi YouTube channel, featuring the programs and benefits of being a Pag-IBIG member:
How to Pay Pag-IBIG Contributions
There are two ways to pay Pag-IBIG Fund contributions: offline (over the counter) or online. If you prefer to make over the counter payments, you can go to a bank or remittance company that is an accredited partner of Pag-IBIG.
In the UAE, the banks and remittance companies that accept Pag-IBIG Fund contributions are: Asia United Bank (AUB) and its collecting agents; Philippine National Bank (PNB) and its collecting agents; and Ventaja International Corporation collecting agents.
To make an over the counter payment, just go to any of the above banks/remittance companies, fill out the Remittance Application Form, and submit the required documents (e.g. ID card, passport). Informt the branch staff that you would like to pay for your Pag-IBIG Fund contribution.
Pag-IBIG Remittance Centers in UAE
Below is a list of remittance companies that accept Pag-IBIG Fund contributions in the UAE (covering Abu Dhabi, Dubai, and the Northern Emirates). These companies are collecting partners of either AUB, PNB, or Ventaja, which are accredited by Pag-IBIG:
- Abu Dhabi Marketing Office
- Ahalia Exchange Bureau
- Al Ahalia Money Exchange Bureau
- Al Ansari Exchange
- Al Bader Money Exchange
- Al Fardan Exchange
- Al Fuad
- Al Ghurair International Exchange
- Al Rostamani International Exchange
- Delma Exchange
- Deniba International Exchange LLC
- Dubai Representative Office
- Economic Exchange Center
- Emirates India International Exchange LPC
- GCC Exchange
- Index Exchange LLC
- Joyalukkas Exchange
- LM Exchange LLC
- Lari Exchange
- Leela Megh Exchange Co LLC
- Lulu Exchange
- Malik Exchange
- Multinet Trust Exchange
- National Exchange Co – UAE
- Onyx Exchange
- Orient Exchange Co LLC
- Pinoy Express Hatid
- Progoti Exchange
- Send Exchange EST
- UAE Exchange Centre LLC
- Wall Street Exchange Centre LLC
How to Pay Pag-IBIG Contributions Online
If you are busy and unable to make over the counter payment, paying online is a faster and more convenient option. For this reason, the Virtual Pag-IBIG website was launched, enabling members to pay contributions and loans, view records, schedule appointments with Pag-IBIG, and access other related services.
For this method, you need to create a Virtual Pag-IBIG account first through the website. After creating your account, you can begin paying your contributions online, as long as you have a bank card (MasterCard or Visa) or digital wallet (Maya or GCash).
Contact Information: MWO Dubai
For questions and concerns regarding your Pag-IBIG Fund membership and contributions, you can get in touch with the “Pag-IBIG Fund Dubai Member Services Desk” at the Migrant Workers Office (MWO) through the following contact details:
Address: Street #2C, Beirut St., Near Al Qusais Police Station, Al Qusais 3, Dubai, United Arab Emirates
Telephone: +971 50 652 6626
Email: popdubai@pagibigfund.gov.ph / vo_uaeandkuwait@pagibigfund.gov.ph
Website: http://www.mwodubai.org/
Facebook: https://www.facebook.com/MWODubaiAndNorthernEmirates/
Google Map Location:
Final Thoughts
Buying a house and lot or building a home is a major expense; fortunately the Pag-IBIG Fund provides affordable loans so that many Filipinos can accomplish their dream homes. For OFWs in Dubai who are planning to buy or build a house, consider getting a Pag-IBIG loan and take advantage of its affordable rates.
Meanwhile, if you are hoping to grow your savings, you could try joining the Pag-IBIG MP2 Program. Check out this article to know more about this high-earning savings program.