www.pag-ibig-fund.com/sp_provident.htm

MEMBER'S PROVIDENT SAVINGS PROGRAM

PURPOSE:

• Total Accumulated Value (TAV) consists of:
• The member's accumulated contributions;
• The employer's counterpart contributions ( if applicable); and
• Dividend earnings credited to the member's account;
• Dividends are tax-free; equivalent to 70% of the Fund's annual net income.

  Savings are guaranteed by the Philippine Government.

RATE OF CONTRIBUTIONS:

• One Percent (1%) of member's monthly compensation - for employees earning not more than P1,500.00 per month.
• Two Percent (2%) of member's monthly compensation - for employees earning more than P1,500.00 per month.
• Employer's are required to provide 2% counterpart contributions to their qualified employees.

GROUNDS FOR WITHDRAWAL OF SAVINGS

1. Membership maturity
   • (Active membership for 20 years i.e., after 240 monthly contributions).
   • For members registered under RA 7742, partial withdrawal of savings is allowed after 10 to 15 years of continuous membership, provided the member has no outstanding housing loan.
2. Retirement
   • Age 45 (early retirement)
   • Age 60 ( optional retirement)
   • Age 65 ( mandatory retirement)
3. Permanent Departure from the Country
4. Permanent / Total Disability
5. Insanity
6. Termination from service by reason of health
7. Death of member

   Heirs are provided with an additional P6,000 Death Benefit Grant.

Source: www.pag-ibig-fund.com