Question & AnswerQ&A (CIRCULAR NO. 408)
The objective is to provide the general policy on the grounds for termination of Pag-IBIG I membership.
These Guidelines cover all Pag-IBIG I members who are entitled to withdraw their Total Accumulated Value (TAV) anytime upon occurrence of any of the grounds for termination of Fund membership.
The additional grounds include critical illness of the member or any immediate family member certified by a licensed physician under categories like cancer, organ failure, heart-related illness, stroke, and neuromuscular-related illness, subject to Deputy CEO-Services Cluster approval, and other meritorious grounds approved by the Board.
Critical illness refers to a serious disease or medical condition in which death is possible or imminent.
Immediate family members include spouse, parents, children, siblings, grandparents, grandchildren, and legally adopted children for applications involving withdrawal of savings of their adoptive parents.
No, there will be no forfeiture of dividends for members who terminate their membership due to the additional grounds stated in the Guidelines.
If a member's membership was earlier terminated based on allowed grounds but the member is subject to mandatory coverage, they shall continue to be mandatorily covered after membership enrollment.
Circular No. 380 governs all prescribed rules relating to application, processing, approval, and fund releasing for provident benefit claims of Fund members qualifying for membership termination.
The Circular took effect fifteen (15) days following the completion of its publication in the Official Gazette or a newspaper of general circulation.