Pag-IBIG Reminds Of Condonation Program

CITY OF SAN FERNANDO, Pampanga - The Home Development Mutual Fund (HDMF, or Pag-IBIG Fund, here disclosed that the government office is still offering a penalty condonation program until June 30 for members who have unpaid housing loans and delinquent employers who failed to register their employees with the agency.

The agency has launched a penalty condonation program for members who have failed to make housing loan repayments for at least three months.

HDMF said the housing loan penalty condonation program aims to extend assistance to its members, especially those who were affected by typhoons and earthquakes and overseas Filipino workers (OFWs) who experienced financial woes in the Middle East and Japan, said PAG-IBIG Fund spokesperson James Cosico in a statement.

The penalty condonation program is also available for delinquent employers, or those that failed to register their employees with the agency and collect contributions from them for payment to the PagIBIG Fund, he said.

Cosico clarified that employers who deducted PagIBIG payments from workers but did not remit this are not covered by the condonation program. Employees who have previously availed themselves of the condonation program for unpaid loans are not qualified to apply.

HDMF said that eligible employers may pay contribution in behalf of their employees from the time that the latter should have been covered by the PAG-IBIG Fund.

Universal PAG-IBIG coverage was made mandatory in 2010 to assure the public of better social security services.

"The delinquent employers may pay only the employer's contribution, as the employees may no longer be connected with the company. Employees, on the other hand, may opt to pay the fraction that they ought to contribute during the past years," it said.

Consico also said that PAG-IBIG fund has offices in the regions and provinces all over the country that members can visit so that they can be assisted in drawing up a plan for repayment of their obligations.

Likewise, those negligent employees who have already availed themselves of the PAG-IBIG benefits and loan services but have had bad records would be ineligible for the program.

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